Colgate’s Prestige Skin-Care Acquisitions Inspire Interest In Similar Deals
Colgate-Palmolive plans to “dial up investments” in prestige skin-care brands EltaMD and PCA Skin, which helped drive North American sales up 3% in the first quarter, says CEO Noel Wallace during his first quarterly presentation as CEO.
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Back in April, CEO Noel Wallace noted Colgate’s interest in further skin-care M&A during his first quarterly presentation at the firm’s helm. The Filorga purchase is significantly bigger than 2018 deals that whet Colgate’s appetite for high-growth, high-margin skin care and represents a gateway to the fast-growing travel retail channel.
Colgate test markets its first direct-to-consumer retail program with a tooth-whitening product available by subscription sales, says incoming CEO Noel Wallace. Program not expected to be “huge-scale opportunity” but to help accelerate innovation and better understand consumers.
Noel Wallace, also named to board, says Colgate will continue to prioritize brand building, innovation in current product segments, expanding in channels and markets, maximizing e-commerce growth and investing to drive penetration in growing populations. He joined the oral, personal and home care product and pet nutrition company in 1987 and has served in senior management roles around the world.