Unilever will acquire a majority stake in Nutrafol. This was announced by the group at the end of May. Currently, the company holds a minority share of 13.2 per cent in the American provider of hair wellness products. Nutrafol numbers among the top hair health brands in the USA!
Holistic Approach Addresses Various Causes of Hair Loss
Nutrafol was founded in 2016 and markets clinically tested products formulated by doctors for thinning and damaged hair in both men and women in different stages of life. The company explains that it takes a holistic approach. Nutrafol products contain the patented Synergen Complex with a blend of various nutraceutical ingredients that target multiple root causes affecting hair health including hormones, stress, lifestyle, metabolism, nutrition, and aging.
Nutrafol’s revenue grew 100% year-over-year in 2021, and the company says it’s on track to do so again this year. For the past few years, the company has relied on subscription plans to grow and sustain its customer base — currently, between 85% to 90% of Nutrafol’s online customers are subscribers. But the company has big expansion plans — including plans to grow its retail footprint and roll out new products. For example, this month, Nutrafol launched its first major product category beyond supplements, by debuting scalp-focused shampoo and essence spray.
Most Frequently Recommended Brand
In the USA, Nutrafol is the brand most often recommended by dermatologists for patients with hair growth issues. For men and women in America, hair health is one of the most significant beauty problems, Unilever adds. According to the company, Nutrafol has already built up a network of over 3,000 doctors who sell the products. Furthermore, the manufacturer also draws attention to its successful e-commerce business. The companies say they now hope to expand both sales strategies to create a multi-channel distribution network.
In future, Nutrafol will operate as part of Unilever’s Health & Wellbeing unit.