Helen of Troy looking to sell personal care business
Consumer products supplier Helen of Troy revealed that it is exploring the sale of its ‘ill-performing’ personal care business that includes the Pert shampoo and Brut perfume brands, Reuters reports.
According to the report, Helen of Troy told Reuters that the divestiture would allow it to focus on its core brands, including Honeywell air purifiers and OXO kitchenware.
The Wall Street Journal said that the company’s beauty division (which includes the personal care brands) has an estimated value of $300 million (€266 million).
It achieved approximately $100 million in sales in the last quarter, which is a 3% decrease from the year before.
The report outlines that sales in Helen of Troy’s personal care business have been steadily ‘suffering’ since 2015.