Nutrafol’s Growth and Leadership Change: A New Chapter for Unilever’s Hair Growth Brand
Nutrafol, the leading dermatologist-recommended hair growth supplement brand in the US, continues to make impressive strides in the beauty and wellness industry. The brand, which is now part of Unilever’s Health & Wellbeing division, has seen remarkable growth since its acquisition in 2022, more than doubling its turnover and expanding its presence globally. With a focus on addressing hair-health concerns, Nutrafol is tapping into a growing global market where over 114 million people in the US and 250 million in China struggle with hair-related issues.
In fact, Nutrafol’s rise aligns with the surging demand for hair growth solutions. According to beauty trends tracker Spate, online searches for the term ‘hair growth’ are skyrocketing, with 1.3 million searches each month in the US alone. This surge in interest is reflective of the broader consumer trend toward seeking solutions for thinning hair, making Nutrafol’s success even more significant.
Since Unilever acquired a majority stake in Nutrafol in 2022, the brand has thrived, becoming the second-largest brand in Unilever’s Wellbeing division. This division, which has delivered 15 consecutive quarters of double-digit growth, has set its sights on achieving €3 billion in turnover in the coming years. Nutrafol’s presence in major retail outlets like Sephora and its expansion into China through cross-border e-commerce in 2023 have further propelled its growth. With more than 1 million consumers in the US relying on its science-backed, dermatologist-recommended products, Nutrafol has established itself as a leader in the hair care space.
The brand’s direct-to-consumer model has been a significant driver of its success, with 80% of Nutrafol’s revenue coming from repeat customers. Notably, 63% of its customers have placed more than four orders, demonstrating exceptional loyalty to the brand’s products. Nutrafol offers targeted supplements for both women and men at various life stages, addressing common concerns such as thinning hair, hair loss, and overall scalp health.
A New CEO and Fresh Leadership
In another significant development, Nutrafol has announced the appointment of Cindy Gustafson as its new CEO. Gustafson, currently the Chief Marketing Officer, will take over from co-founder Giorgos Tsetis in January 2025. Tsetis, who has played a crucial role in Nutrafol’s growth and success, will transition into the role of Chairman, where he will continue to provide strategic guidance and support in an advisory capacity.
Gustafson’s promotion comes at a pivotal moment for Nutrafol, as she aims to further extend the brand’s reach and strengthen its core product categories. Her leadership is expected to build on Nutrafol’s impressive growth trajectory, driving further innovation and expanding the brand’s impact in the hair and wellness space.
Expanding Beyond Hair Care
While Nutrafol is widely recognized for its hair growth supplements, the brand has recently ventured into new areas, including skincare. In February 2024, Nutrafol launched a daily supplement specifically designed for women over 18 who experience mild to moderate acne. This new product marks the brand’s expansion into the skincare category and reinforces Nutrafol’s commitment to providing holistic solutions for beauty and wellness concerns.
Tsetis, reflecting on the company’s success, noted, “What we have built, and more importantly, the people we have been able to help as a result, is truly a dream realized. We have made a tremendous impact on so many lives, but we also know that women are plagued by another confidence killer, acne. So for the past two-and-a-half years, we have brought all of the scientific resources and research available to us at Nutrafol to develop our whole-body approach for women struggling with their skin.”
Looking Ahead: Nutrafol’s Bright Future
With Gustafson at the helm, Nutrafol is poised for continued success as it capitalizes on the growing demand for effective, science-backed solutions for both hair and skin health. The brand’s combination of innovative products, strong consumer loyalty, and global expansion positions it to remain a dominant player in the wellness and beauty industries for years to come.
As Nutrafol continues to evolve under new leadership, its commitment to providing high-quality, dermatologist-recommended solutions for hair and skin health remains steadfast. With new product innovations and global growth on the horizon, Nutrafol’s future looks exceptionally bright.
