Kimberly-Clark Acquires Majority Stake in Period-panty Brand Thinx
Kimberly-Clark Corporation said Thursday evening that it had completed its acquisition of a majority stake in the period-panty brand.
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“Our investment in the success of Thinx represents a compelling strategic fit as we build our portfolio of period and light bladder leakage solutions and we are excited for the opportunity this expanded partnership will provide to both Kimberly-Clark and Thinx,” Russ Torres, group president of Kimberly-Clark’s North American consumer business, said in a statement. “The investment in Thinx paves the road for collaboration and allows us to work together to drive category growth with our retail partners while continuing to support Thinx in direct-to-consumer channels.”
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Maria Molland, chief executive officer of Thinx said: “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. 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.”
The terms of the transaction have not been disclosed. But the personal hygiene company — which includes the Huggies, Kleenex, Kotex, Cottonelle, Depend and Pull-Ups brands in the greater portfolio, among others — previously made a minority investment of $25 million in Thinx in 2019.
Meanwhile, Thinx, which was founded in 2014 and also makes underwear for teens and post-menopausal women, continues to grow. The period-panty brand expanded into period activewear last year while also moving into Target, CVS, Nordstrom, Selfridges, Kohl’s and Urban Outfitters store shelves, as well as online shops like Amazon, at various price points.
Last March, Molland told WWD that she expected Thinx’s d-to-c business to grow by about 30 percent in 2021, year-over-year, and 200 percent in the $10 million wholesale business, generating more than $100 million in total company revenues.
“We’ve had tremendous growth across the business in the last year,” Molland said at the time. “We’re feeling like we’re riding the wave of consumers getting excited about something new, about period products.”
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