Kenvue Prioritizes Growing 15 Brands In Pivot To Recovering Marketplace Prominence
Kenvue’s plans to drive sales include re-introducing brands to consumers and making “priority” of 15 brands, most in self care. “Overall, the execution of our recovery plan in the fourth quarter fell short of expectations,” says CEO Thibaut Mongon.
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The J&J spinout and Neutrogena and Aveeno owner says the challenge facing its Skin Health and Beauty business is not about brand equity or online performance as much as in-store in the US, where it has underperformed. CEO Thibaut Mongon outlined planned investments, expected to drive growth acceleration in Kenvue’s fiscal 2024 second half, at the CAGNY 2024 conference.
In describing Haleon’s Q4 showing as a “strong finish to the year,” Bernstein’s Bruno Monteyne pointed to “remarkable strength in respiratory health,” with the category resoundingly beating analysts’ consensus estimates of a 2.5% decline.
CEO Thibaut Mongon says Kenvue’s priorities since separation from J&J include “maybe something that was not obvious in the previous world,” when employees “could not relate to how” their work mattered. North America president change comes with skin health and beauty portfolio “not where we want to be.”