Unilever to keep Calvin Klein brand

LONDON - Unilever is to hang on to its Calvin Klein brand when it sells its cosmetics division in an attempt to slim its portfolio to concentrate on its 400 key food and personal care products.

The Anglo-Dutch consumer products giant is selling a raft of brands as part of a strategy to reduce its number of brands from 1,600 to 400.

The strategy is part of its "path to growth" programme, which has also involved shedding some 25,000 staff.

Answering speculation that the premium fragrance brand was up for sale, Unilever chairman Anthony Burgmans said that Calvin Klein was not among the brands up for sale.

He said: "Calvin Klein is one of the 400 [key] brands that Unilever plans to retain in its product portfolio."

Speculation about the future of the brand surfaced last month amid reports that Unilever is to sell its Unilever Cosmetics Division, which was said to be capable of fetching 拢490m.

Potential buyers for Unilever's cosmetics division were reported to include Procter & Gamble and Estee Lauder.

It had been widely tipped to unload Calvin Klein. Unilever has already divested some of its former key cosmetics products over the last two years, including Elizabeth Arden and the rights to Elizabeth Taylor's fragrance business, which includes White Diamonds.

Sales of fragrances have been hit by a slowdown that accelerated after September 11, when people reduced their overseas travel, hitting sales of fragrances at airports.

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