10.25.23
Johnson & Johnson is #9 on our Top Global Beauty Companies 2023 report.
Below is a look at the company's 2023 highlights, recent acquisitions, best-selling brands and latest innovations.
Note: J&J completed an exchange offer to finalize the separation of Kenvue Inc., formerly Johnson & Johnson’s Consumer Health business in August. Going forward, next year's report will be about Kenvue, not J&J.
The company’s skin health/beauty sales declined 4.2% to $4.4 billion. The company attributed the decline primarily to supply chain constraints in the U.S. partially offset by price actions and strong new product performance in the Asia Pacific and Latin America regions.
Oral care franchise sales declined 8.5% to $1.5 billion compared to the prior year. The decline was due to portfolio simplification in the U.S., competitive pressures in EMEA and China, category decline and pricing pressures in EMEA, as well as suspension of personal care sales in Russia and negative COVID-19 impacts in China.
The company’s baby care sales declined 6.7% to $1.5 billion driven by category deceleration and competitive pressures in the U.S., suspension of personal care sales in Russia and weakness in India.
The company made progress in two significant undertakings: preparing J&J to operate as a faster, more focused two-sector company, and initiating the separation of its consumer health business, Kenvue. J&J achieved this despite the effects of high inflation, geopolitical tension and continued supply chain disruption.
In April 2023, Kenvue Inc. initiated a roadshow for the initial public offering (IPO) of 151,204,000 shares of its common stock. Then, in July, J&J announced plans to split-off at least 80.1% of the shares of Kenvue Inc. through an exchange offer.
With the separation of Kenvue, J&J aims to sharpen its focus on transformational innovation specifically in Pharmaceutical and Medtech. Brands under the Kenvue umbrella include Aveeno, Neutrogena, Listerine, BAND-AID and more. Thibaut Mongon will serve as CEO of Kenvue and Paul Ruh will serve as CFO. The planned split was originally announced back in 2021.
In August 2022, J&J decided to transition to an all cornstarch-based baby powder portfolio. As a result, the iconic talc-based Johnson’s Baby Powder was discontinued globally in 2023.
In May 2023, J&J was recognized by Forbes and Statista as one of America’s best employers for diversity.
In June 2023, Aveeno launched The Startup Collective, which is designed to empower Black female-identifying business owners with a chance to win a $100,000 grant with access to hands-on business guidance and mentorship from an Aveeno leader. Finalists will attend a virtual pitch competition to present their company and product.
In Q2, corporate sales climbed 6.3% to $25.5 billion. Consumer health improved this quarter to $4 billion thanks in part to Neutrogena in skin health/beauty products and Women’s Health products outside the U.S.
See Next: Natura & Co. ranks at #10 on our list of Top Global Beauty Companies 2023
Below is a look at the company's 2023 highlights, recent acquisitions, best-selling brands and latest innovations.
Note: J&J completed an exchange offer to finalize the separation of Kenvue Inc., formerly Johnson & Johnson’s Consumer Health business in August. Going forward, next year's report will be about Kenvue, not J&J.
J&J's Corporate Sales
$94.9 billionJ&J's Beauty Sales—Skin, Beauty, Oral, & Baby
$7.3 billionKey Personnel at J&J
- Joaquin Duato, chairman of the board and chief executive officer
- Joseph J. Wolk, executive vice president, chief financial officer
- Thibaut Mongon, chief executive officer and director, Kenvue
- Paul Ruh, chief financial officer, Kenvue
- Meri Stevens, chief operating officer, Kenvue
J&J's Major Products/Brands
- Johnson’s Baby Products
- Aveeno
- Clean & Clear
- Dabao
- Le Petite Marseillais
- Lubriderm
- Neutrogena
- OGX
- Sundown Vivvi & Bloom
- Listerine
J&J's New Products
- Vivvi & Bloom 2-in-1 Face & Body Whip Lotion
- Aveeno Eczema Therapy Rescue Relief Treatment Gel Cream
- Aveeno Tone + Texture Gentle Renewing Night Cream
- Neutrogena Scalp Therapy Anti-Dandruff Daily Control
- Neutrogena Ultra Gentle Body Gel Hydrator Lotion Pro-Vitamin B5 Moisturizer
By the Numbers
J&J’s corporate sales rose 1.3% last year to $94.9 billion. Consumer Health sales, which includes a broad range of skin health/beauty, over-the-counter medicines, baby care, oral care, women’s health and wound care products, were $15 billion, a decrease of 0.5% from 2021.The company’s skin health/beauty sales declined 4.2% to $4.4 billion. The company attributed the decline primarily to supply chain constraints in the U.S. partially offset by price actions and strong new product performance in the Asia Pacific and Latin America regions.
Oral care franchise sales declined 8.5% to $1.5 billion compared to the prior year. The decline was due to portfolio simplification in the U.S., competitive pressures in EMEA and China, category decline and pricing pressures in EMEA, as well as suspension of personal care sales in Russia and negative COVID-19 impacts in China.
The company’s baby care sales declined 6.7% to $1.5 billion driven by category deceleration and competitive pressures in the U.S., suspension of personal care sales in Russia and weakness in India.
J&J's 2022-2023 Highlights
Joaquin Duato, chairman and CEO, said, “2022 was a year of achievement and evolution for Johnson & Johnson.”The company made progress in two significant undertakings: preparing J&J to operate as a faster, more focused two-sector company, and initiating the separation of its consumer health business, Kenvue. J&J achieved this despite the effects of high inflation, geopolitical tension and continued supply chain disruption.
In April 2023, Kenvue Inc. initiated a roadshow for the initial public offering (IPO) of 151,204,000 shares of its common stock. Then, in July, J&J announced plans to split-off at least 80.1% of the shares of Kenvue Inc. through an exchange offer.
With the separation of Kenvue, J&J aims to sharpen its focus on transformational innovation specifically in Pharmaceutical and Medtech. Brands under the Kenvue umbrella include Aveeno, Neutrogena, Listerine, BAND-AID and more. Thibaut Mongon will serve as CEO of Kenvue and Paul Ruh will serve as CFO. The planned split was originally announced back in 2021.
In August 2022, J&J decided to transition to an all cornstarch-based baby powder portfolio. As a result, the iconic talc-based Johnson’s Baby Powder was discontinued globally in 2023.
In May 2023, J&J was recognized by Forbes and Statista as one of America’s best employers for diversity.
In June 2023, Aveeno launched The Startup Collective, which is designed to empower Black female-identifying business owners with a chance to win a $100,000 grant with access to hands-on business guidance and mentorship from an Aveeno leader. Finalists will attend a virtual pitch competition to present their company and product.
Looking Ahead
In Q1 2023, corporate sales rose $5.6% to $24.7 billion and were bolstered by consumer health sales, which grew 7.4% as reported largely driven by over-the-counter products. Contributors to growth were Neutrogena and Aveeno.In Q2, corporate sales climbed 6.3% to $25.5 billion. Consumer health improved this quarter to $4 billion thanks in part to Neutrogena in skin health/beauty products and Women’s Health products outside the U.S.
See Next: Natura & Co. ranks at #10 on our list of Top Global Beauty Companies 2023