Unilever's New CEO Champions Sustainable Innovation

2024-05-10 green

Vasiliki Petrou unveils Unilever’s strategy for sustainable innovation to tackle environmental and social issues, aiming for scalable solutions.

A Decade of Progress and A Sustainable Future

Unilever, the global consumer goods conglomerate, under the leadership of their newly appointed CEO Vasiliki Petrou, has reached a milestone of €1.4 billion turnover in 2023 through its Unilever Prestige division[1]. This division, which encapsulates ten premium beauty brands, has demonstrated an impressive 13 consecutive quarters of volume-led growth. The United States holds the position as the largest market for Unilever Prestige, contributing to about 60% of its business, with China following as the second-largest market[2]. With a decade of robust growth behind it, Unilever is now poised to integrate sustainability more deeply into the core of its business strategy.

Innovation at the Heart of Growth

The vision for the next decade is clear, as Petrou outlines a commitment to sustainable innovation. Unilever Prestige’s growth is not only a reflection of market expansion but also of the incorporation of purpose-driven, eco-conscious brands. K18, a new addition to the Unilever family, exemplifies this with its innovative biotechnology-based hair care solutions[2]. Through leveraging world-class R&D capabilities and consumer insights, Unilever Prestige is setting a new standard for the integration of sustainability within the luxury beauty sector.

Addressing Environmental Challenges Head-On

Unilever’s approach to innovation extends beyond product development. The company has been actively striving to create a circular economy for plastic packaging and is committed to protecting and regenerating natural and agricultural ecosystems[1]. This approach to business is not just about adapting to consumer demand but also about taking responsibility for the environmental footprint of their operations. The CEO’s vision includes ambitious climate targets and actions to respond to the urgent challenge of climate change.

Strategic Collaborations for a Sustainable Future

Moreover, Unilever’s leadership in sustainability is evident in their call for collaboration across businesses, governments, and regulators to hasten the transition to a net-zero economy. They have made strides towards a UN treaty to end plastic pollution, with Hein Schumacher, CEO of Unilever, representing the Business Coalition for a Global Plastics Treaty during negotiations in Canada[4]. The company is also engaged in enhancing the livelihoods of people in its global value chain and addressing the broader impacts of inequality[1].

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sustainability unilever