Colgate-Palmolive is #16 on our Top Global Beauty Companies 2022 Report.
Below is a look at the company's 2022 highlights, recent acquisitions, best-selling brands and latest innovations.
Corporate Sales:
$17.4
Beauty/Personal Care Sales:
$3.5 billion
Key Personnel:
- Noel Wallace, chairman, president and CEO
- Stanley J. Sutula III, chief financial officer
- Stephan Habif, chief technology officer
- Prabha Parameswaran, group president, growth and strategy
- Panagiotis Tsourapas, group president, Europe and developing markets
- Maria Paula Capuzzo, president, Colgate-Africa/Eurasia
- Michael A. Corbo, chief supply chain officer
- Mukul Deoras, president, Colgate-Asia Pacific
- Jean-Luc Fischer, president, Colgate-Europe
- Jesper Nordengaard, president, Colgate-North America
- Juan Pablo Zamorano, president, Colgate-Latin America
Major Products/Brands:
Soap, toothpaste, skincare and deodorant brands, including Elta MD, Filorga, Irish Spring, Palmolive, PCA Skin, Protex, Sanex, Softsoap, Sorriso, Speed Stick, Lady Speed Stick, Tahiti.
New Products:
Filorga Time-Filler 5XP Correction Cream 50ml, Irish Spring (relaunch), EltaMD UV Daily Broad-Spectrum SPF, Softsoap Milk & Golden Honey Liquid Hand Soap.
Financial Summary:
Colgate-Palmolive saw its overall corporate sales climb 6% to $17.4 billion in 2021, with personal care sales accounting for 20% of that total.
The company’s North American net sales for the collective oral, personal care and home care category in North America decreased 1% in 2021 to $3.7 billion, driven by volume declines of 4%. Organic sales in North America decreased 2% in 2021, largely driven by the U.S. The decrease in Personal Care was primarily due to organic sales declines in the liquid hand soap and bar soap categories.
2021-2022 Highlights
Colgate-Palmolive is proud of its ranking as the No. 1 toothpaste company in the world. In Q1 of 2021, the company rolled out a revolutionary recyclable toothpaste tube to the U.S. market. Made of high-density polyethylene (HDPE), it’s the first to be recognized by external recycling authorities as recyclable.
In February 2022, Colgate-Palmolive unveiled a new and modernized design look for its Irish Spring soap brand. The green and white deodorant soap has been synonymous with “fresh and clean” since its launch in 1970 and has evolved with the addition of several companion scents and body washes.
The redesign was initiated to expand the brand’s appeal to younger, male consumers. Colgate-Palmolive’s Global Design Brand Group worked with creative agencies Chase Design Group and Tin Horse to achieve the rebrand, which was targeted to better reflect “stylish, modern masculinity.”
The design team married the new brand promise—“smell from a nice-smelling place”—with the brand’s familiar assets—a richer green Irish Spring structure, white brand mark and golden clover symbol—to create a sleek, modern look that confidently pays homage to the brand’s legacy.
In addition to appearing on traditional bar soaps and marketing collateral, the newly refreshed look is interpreted across each of the brand’s 13 body wash SKUs spanning Original Clean along with Moisture Blast, Active Scrub, Aloe Mist, 5-in-1, Charcoal Refresh, Ultimate Wakeup, Black Mint and Sage Cedar scents.
On January 27, 2022, Colgate-Pamolive’s board approved a 2022 Global Productivity Initiative, a program intended to reallocate resources toward the company’s strategic priorities and faster growth businesses, drive efficiencies in the company’s operations and streamline the company’s supply chain to reduce structural costs. Implementation of the Global Productivity Initiative is on track for completion by December 31, 2022.
Looking Ahead:
In a statement issued in Q2 2022, Colgate’s Noel Wallace, chairman, president and CEO, commented that the company achieved a 14th consecutive quarter of organic sales growth at or above their targeted range of 3% to 5%, with net sales increasing 5.5% and organic sales growing 9.0%, representing a significant acceleration versus the first quarter. “Our focus on premium innovation, brand building and digital capabilities drove broad-based organic sales growth, with growth in every division and all four of our categories, including double-digit organic sales growth in oral care and pet nutrition,” he said. “We are especially encouraged by the increase in our global toothpaste market share year to date led by share growth in the U.S. where our focus on more premium innovation is driving share gains.”
He added that significant increases in raw and packaging material and logistics costs continued during the quarter and currencies remained volatile in many parts of the world. The company continues to respond by accelerating its revenue growth management plans. “Our solid results this quarter, despite significant headwinds from raw materials, foreign exchange and the broader macro environment, demonstrate that our strategies are working,” he said. “We will continue to deliver impactful innovation that provides value to our customers and consumers as we work to offset these headwinds and deliver sustainable, profitable growth over the long term.”
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