Unilever is reportedly mulling the sale of two luxury skin care brands.
The consumer goods giant is hoping to offload Kate Somerville and REN Skincare, Sky News reported on Sunday.
Unilever is currently working with advisors from Pricewaterhousecoopers on a potential sale of the two luxury brands it acquired in 2015.
Kate Somerville is the eponymous brand of the California-based celebrity facialist and REN Skincare is marketed as sensitive skin specialists.
Unilever has declined Cosmetics Business' request for comment.
The potential sale follows the departure of Vasiliki Petrou, the CEO of Unilever’s Prestige Division.
Petrou is credited for creating the division in 2014, which houses Kate Somerville and REN, along with Tatcha, Hourglass and Paula's Choice.
Unilever expanded the business by investing in hair care via the acquisition of K-18.
The conglomerate reported a "muted" quarter for its Prestige Division in its latest financial results, driven particularly by the US and China.
Unilever's CEO Hein Schumacher, when questioned about the "slowing down" in skin care on a call to analysts, said the slump is not long-term.
"Some brands continue to beat the [slowdown] trend and obviously some brands are sort of more going with the trend," he added.
"Quite a few of our brands…are digitally native so we're capable of investing more behind them and control that.
"We feel that it is a very positive part of our business, and we will continue to invest."
