Neutrogena
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| Company type | Subsidiary |
|---|---|
| Industry | Cosmetics |
| Founded | 1930 (as Natone) 1962 (as Neutrogena) |
| Founder | Emanuel Stolaroff |
| Headquarters | , United States |
Area served | Worldwide |
| Revenue | less than US$ 4 billion (2020) |
| Parent | Johnson & Johnson |
| Website | Neutrogena.com |
Neutrogena Corporation,[1] trading as Neutrogena, is an American company that produces cosmetics, skin care and hair care and owned by parent company Johnson & Johnson and is headquartered in Los Angeles, California.[2] According to product advertising at their website, Neutrogena products are distributed in more than 70 countries.[3]
Neutrogena was founded in 1930 by Emanuel Stolaroff, and was originally a cosmetics company named Natone. Johnson & Johnson acquired the independent company in 1994.[4]
The company originally supplied to department stores and salons that catered for the Hollywood film industry.[5]
History
In 1930, Emanuel Stolaroff started a small company called Natone.[6] Soon, it grew into a larger business, and he started expanding it into retail markets.[citation needed] Stolaroff met Belgian chemist Edmond Fromont in 1954, and acquired the rights to distribute his patented formula of a mild clear soap that cleared the skin, without drying it, in the US.[2] By then, Lloyd Cotsen had entered the Stolaroff family by marrying his daughter Joanne Stolaroff.[5] In 1962, the company name was officially changed to Neutrogena Corporation; Cotsen became president in 1967.[7]
The company listed publicly on the NASDAQ in 1973, with a market value of $1.2 million.[8] Cotsen started marketing soap through two major channels: dermatologists and luxury hotels.[9] Neutrogena managed to stay clear of any major pricing wars, like those of other big corporations of that generation.[citation needed] It launched product lines in acne and anti-aging areas.[5] In 1982, profits reached US$3 million, and Cotsen was named the CEO.[5]
In 1994, Johnson & Johnson acquired Neutrogena for $924 million, at a price of $35.25 per share.[1] Johnson & Johnson's international network helped Neutrogena boost its sales and enter newer markets including India, South Africa, and China. Priced at a premium, Neutrogena products are distributed in over 70 countries. The company has major subsidiaries in Canada, United Kingdom, South Korea and India.[2]
At the Consumer Electronics Show in January 2023, Neutrogena announced a partnership with Nourished, a vitamin brand that 3D-prints customized gummy supplements.[10]
Sunscreen recall
In July 2021, parent company Johnson & Johnson recalled four Neutrogena aerosol sunscreen products and one Aveeno branded spray from stores in the United States after detecting the carcinogen benzene in some samples.[11][12] The company went on to state that benzene is not used in the manufacturing process of the sprays and said it began an investigation into the source of the contamination.[13][14]
References
- ^ a b "NEUTROGENA CORP, Form SC 14D9, Filing Date Aug 26, 1994". secdatabase.com. Retrieved May 15, 2018.
- ^ a b c Neutrogena.com | Archived 2011-05-08 at the Wayback Machine
- ^ "Find out more about us". Neutrogena. Retrieved 2023-02-24.
- ^ Hofmeister, Sallie (23 August 1994). "Johnson to Acquire Neutrogena". The New York Times.
- ^ a b c d Company Perspectives: While continuing the Neutrogena past
- ^ "It All Began With a Bar of Soap: The History of Neutrogena". Cosmetic Promotions. 2019-06-10. Retrieved 2023-02-24.
- ^ "Neutrogena Chairman Lloyd Cotsen Dies at 88". www.usnews.com. 2017. Archived from the original on 2017-08-02.
- ^ "Neutrogena". fashionabc. Retrieved 2023-02-24.
- ^ "Gale Directory of Company Histories: Neutrogena Corporation"
- ^ Jerde, Emma Sandler, Sara (2023-01-04). "Neutrogena now offers personalized vitamin supplements". Digiday. Retrieved 2023-03-31.
{{cite web}}: CS1 maint: multiple names: authors list (link) - ^ "Neutrogena Suncreen recall". Neutrogena. Retrieved 2021-12-29.
- ^ "CDC | Facts About Benzene". Emergency Preparedness and Response. Centers for Disease Control and Prevention (CDC). 2019-05-15. Retrieved 2021-07-15.
- ^ Schwartz, Felicia (2021-07-15). "J&J Recalls Aveeno, Neutrogena Spray Sunscreens". The Wall Street Journal. ISSN 0099-9660. Retrieved 2021-07-15.
- ^ "Johnson & Johnson sunscreen recall, Neutrogena Ultra Sheer and all the products affected". Newsweek. 2021-07-15. Retrieved 2021-07-15.
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