Thinx offloads majority stake to Kimberly-Clark
Kimberly-Clark Corporation announced on Thursday it has acquired a majority stake in menstrual underwear label Thinx.
Terms of the transaction were not disclosed.
"Kimberly-Clark invented the 'femcare' category 100 years ago and Thinx invented the 'femtech' category nine years ago. It's fitting that we will be working more closely with a like-minded organization to realize our mission and vision, and to enable Thinx underwear to more quickly become a mainstream product for period and bladder leak needs," said Maria Molland, CEO of Thinx.
"I'm so proud of the work this team has done to get to this point and thrilled that Kimberly-Clark is dedicated to not only helping us retain our entrepreneurial character, but also giving us the opportunity to tap into their expertise to accelerate our growth and ability to innovate."
The majority investment comes after Kimberly-Clark, which owns the Huggies, Kleenex, Kotex, Cottonelle, Depend and Pull-Ups brands, took a minority stake in Thinx in 2019, for the sum of $25 million.
"Our investment in the success of Thinx represents a compelling strategic fit as we build our portfolio of period and light bladder leakage solutions, and we are excited for the opportunity this expanded partnership will provide to both Kimberly-Clark and Thinx," said Russ Torres, group president of Kimberly-Clark's North American consumer business.
"The investment in Thinx paves the road for collaboration and allows us to work together to drive category growth with our retail partners while continuing to support Thinx in direct-to-consumer channels."
Founded in 2013 by Miki Agrawal, Antonia Dunbar, Radha Agrawal, New York-based Thinx is described as a "disruptor and the leader" in the reusable period and incontinence underwear category. It is currently stocked in Koh's, Free People and URBN in the U.S. and London Drugs in Canada, as well as Boots in the UK, among other locations.
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