Vindi Banga, Unilever President, Foods, Home & Personal Care, said, ‘We already have a strong position in daily hair care and adding the salon brands will further build our position in the hair category. We can bring our world-class R&D expertise to it and offer greater opportunity for geographical expansion. TIGI's strength in styling, and its fashion and beauty expertise will also help us raise the bar on innovation for our existing hair brands.'
Once the deal is completed, TIGI will operate as a standalone Global Business Unit within Unilever.
TIGI's major brands include Bed Head, Catwalk and S-Factor. TIGI has operations in the US, UK, Italy, Germany and Australia. It employs about 550 people and in 2008, had worldwide sales of approximately $250m.
Launched in 1986, TIGI haircare products are sold worldwide primarily to and through hair salons. It is owned and run by Bruno, Guy and Anthony Mascolo, creators of Toni & Guy - with their other brother Toni - who are Chief Executive Officer, Chairman of the Board, and Worldwide Creative Director of TIGI respectively. The transaction does not include the Toni & Guy salon business.
Unilever currently offers consumers leading hair care brands like Dove, Axe for Men, Suave and Sunsilk in the US, as well as others such as Clear elsewhere in the world.
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