Helen of Troy Limited is reportedly considering a sale of its beauty segment.
According to the Wall Street Journal, the company wants to focus more on its health and household products, and is therefore looking to divest its beauty division. The sale of the segment, which supplies Revlon hair dryers and Beadhead TIGI shampoos among other products, is estimated to fetch $300 million in proceeds (according to the Journal, citing sources familiar with the matter).
While health and housewares made up more than half of Helen’s revenue as of 2018, its beauty unit is quite small in comparison. The unit is apparently facing stiff competition from cosmetics/beauty brands such as Estee Lauder and Sephora.