NYT’s Corner Office features Sundial Brands’ Richelieu Dennis
The executive featured in the most recent installment of the New York Times’ Corner Office series will be familiar to readers in the CPG space. The column, published on Sept. 22, features an interview with Sundial Brands CEO Richelieu Dennis.
In the interview, Dennis discusses growing up moving between Liberia and Sierra Leone and the precursor times to his business — started with his mom and his college roommate Nyema Tubman — when he would sell the soap he made on the street. He also discusses the drive that was instilled in him by the entrepreneurial efforts of both of his grandmothers.
With Sundial Brands, Dennis has sought to focus on oft-overlooked consumers, and Dennis is widely credited as the pioneer of the idea of the New General Market — a new way of approaching multicultural, cross-demographic consumers by highlighting commonalities while celebrating difference.
“It is not a segmentation approach; it is an approach of inclusion,” Dennis told Drug Store News in 2015. “It also is not part of a multicultural or ethnic strategy; it is a multi-need strategy in which the heterogeneity within … and the similarities across populations are simultaneously acknowledged and understood.”
To read the full interview, click here.
Unilever to acquire personal care company Carver Korea
LONDON and ROTTERDAM — Unilever has plans to grow its personal portfolio. The company on Monday announced its acquisition of leading skin care brand Carver Korea from Goldman Sachs and Bain Private Equity for $2.68 billion (2.27 euro).
Carver’s leading brand, AHC, is focused on age management and skin hydration and nourishment, with a line of products that includes essences, toners, moisturizers, masks and sun protection products. The company’s origins are as a professional products supplier for beauty salons.
“We are delighted to be acquiring Carver Korea. It is an impressive business that is completely aligned to our personal care strategy,” Unilever personal care president Alan Jope said. “It will significantly strengthen our position in North Asia, the largest skincare market in the world; and will complement our existing portfolio, enabling us to offer luxury skincare products at attainable price points. AHC has been strongly gaining popularity thanks to its efficacious, innovative and premium products; and it therefore offers great opportunities for growth."
Carver’s position in Korean beauty — particularly given South Korea is the fourth largest skin care market in the world — will bolster Unilever’s position within Asia’s beauty market and the global personal care category, the company said.
“This has been a great opportunity for us to partner with a leading Korean company in an exciting segment of the cosmetics space and to help support its brand, operations and growth around the world,” Bain Capital Private Equity managing director Ed Han said. “Unilever is a strong partner to help the company in its next phase of growth and development."
Kroger creates new website to identify local vendors
CINCINNATI — Kroger has launched a new website to welcome local and emerging brands to partner with the company.
"Kroger has always had a commitment to supporting small-business owners and local vendors," said Mike Donnelly, Kroger EVP merchandising and procurement. "Our business has a track record of successfully blending centralized and decentralized decision making to promote local products while also enjoying economies of scale. Since Kroger's day one, we have had a longstanding, 365-day-a-year commitment to support and source from local farmers, ranchers, food producers, wineries, breweries and product makers. There are tastes and products that are unique to every region."
Kroger's team of buyers continuously look for opportunities to purchase regionally that allow the company to expand its product portfolio for customers, stimulate the local economy and enhance product freshness. now vendors will be able to contact them through the new website, called Kroger.Com/WeAreLocal. Sourcing locally also supports the company's sustainability commitments, including Kroger's Zero Hunger|Zero Waste initiative launched last week.
"Kroger has led the way for over a decade in making local, natural and organic products more affordable and accessible to America – especially for shoppers on a budget," Donnelly said. "We've always believed that our customers shouldn't have to pay higher prices just because a product is local, natural or organic. There are a lot of headlines about making local, natural and organic foods more affordable. The truth is, we've always been affordable. That's why we developed our Simple Truth brand, which today is the biggest natural and organic brand in the country by volume."