25 February 2022
Kimberly-Clark acquires DTC brand Thinx
Leading personal care multinational Kimberly-Clark Corporation said Thursday that it acquired a majority stake in Thinx, a direct-to-consumer brand in the reusable period and incontinence underwear category.
Thinx, founded in New York City in 2013, makes a series of four brands, including its eponymous absorbent panties, which serve as an alternative to tampons and pads.
It's an example of a brand that employed direct-to-consumer growth strategies and in so doing raised awareness about a consumer category that stood to solve problems for women – namely, menstruation – but had been a marketing taboo. In recent years, its products have entered major retailers like Target and CVS, as well as expanded its product line to include activewear.
In 2019, Thinx received an investment from Kimberly-Clark, which counts Kotex and Depend among its brands.
"Kimberly-Clark invented the 'femcare' category 100 years ago and Thinx invented the 'femtech' category nine years ago. It's fitting that we will be working more closely with a like-minded organization to realize our mission and vision, and to enable Thinx underwear to more quickly become a mainstream product for period and bladder leak needs," said Maria Molland, CEO of Thinx, in a statement. "I'm so proud of the work this team has done to get to this point and thrilled that Kimberly-Clark is dedicated to not only helping us retain our entrepreneurial character, but also giving us the opportunity to tap into their expertise to accelerate our growth and ability to innovate."
Terms of the deal were not disclosed.
On the Move has the latest hiring update from The Vitamin Shoppe and At Home.
This week, Unilever, Nike and BigCommerce are seeing major transitions in the executive ranks. Meanwhile, The Vitamin Shoppe named a permanent CEO, and At Home brought on a longtime Walmart executive as president.
Conny Braams. (Courtesy photo)
Consumer goods giant Unilever announced key changes in top leadership roles. These include:
Graeme Pitkethly will retire as chief financial officer, effective at the end of May 2024. The board is set to launch a formal search for his successor. Pitkethly has been with Unilever for 21 years.
Conny Braams, who serves as chief digital and commercial officer, will leave the company, effective August 2023. Braams previously held senior management roles including Executive Vice President (EVP) of Middle Europe; and EVP Foodsolutions Asia, Africa and Middle East.
Craig Williams. (Courtesy photo)
Nike, Inc. announced several key leadership changes focused on consumer-led growth and marketplace. They are as follows:
Heidi O’Neill who is currently president of consumer and marketplace, will become president of consumer, product and brand.
Craig Williams, who is currently president of the Jordan Brand, will become president of geographies and marketplace at Nike, Inc.
Matthew Friend, EVP and Chief Financial Officer at NIKE, Inc., will expand responsibilities to include procurement, global places and services and demand and supply management.
Jared Carver will serve as CEO of Converse. Over the last four years, he served as VP/GM of North America for Converse.
Scott Uzzell, the previous CEO of Converse, transitioned to a new role as VP/GM, North America for Nike, Inc.
“These shifts will allow us to streamline our focus across product, brand storytelling and marketplace, mining deep consumer insights to deliver breakthrough innovation and engagement, while building long-term growth and profitability,” said Nike CEO John Donahoe, in a statement.
Lee Wright. (Courtesy photo)
Lee A. Wright was named CEO of The Vitamin Shoppe on a permanent basis, after serving as interim CEO since January 2023. Wright previously served as Chief Commercial Officer of Franchise Group and in executive roles at Conn’s.
Muriel Gonzalez was promoted to president of the retailer, after serving as EVP and chief merchandising and marketing officer of The Vitamin Shoppe since August 2020.
BigCommerce announced the following leadership roles:
Daniel Lentz was promoted to chief financial officer of BigCommerce, effective July 1. He previously served as SVP of finance and investor relations. Lentz will succeed CFO Robert Alvarez, who is retiring after a 12-year stint as CFO.
Chuck Cassidy was promoted to general counsel, effective June 2. Cassidy previously served as VP and associate general counsel. He will succeed Jeff Mengoli, who is retiring.
Hubert Ban was named chief accounting officer. He will replace Vice President of Accounting and Principal Accounting Officer Thomas Aylor, who departed the ecommerce platform on May 19.
Jeff Evans. (Courtesy photo)
Jeff Evans was named president and chief merchandising officer of At Home, the home goods retailer.
Evans previously served as EVP of entertainment, toys and seasonal at Walmart, managing the largest general merchandise business for the retailer. He rose to the position after serving in executive roles at Walmart US and Sam’s Club.