Nutrafol, the hair growth brand owned by Unilever, has announced the appointment of Cindy Gustafson as its new CEO, effective January 2025. Gustafson, who currently serves as the company’s Chief Marketing Officer, will succeed co-founder Giorgos Tsetis in the role. Tsetis, who played a pivotal role in Nutrafol’s growth, will transition to the position of Chairman and will continue to serve in an advisory capacity.
Gustafson’s appointment signals the brand’s commitment to expanding its market presence and strengthening its core product offerings. According to The Business of Beauty, her primary goal is to enhance Nutrafol’s reach while fortifying its position in the hair growth supplement sector.
Nutrafol, known for its range of supplements aimed at addressing thinning hair, caters to both men and women at various stages of life. Since its founding, the brand has garnered significant attention for its scientifically-backed approach to hair restoration.
Unilever Ventures, the private equity arm of Unilever, became a key investor in Nutrafol in 2017, during the company’s Series A financing round led by the investment platform CircleUp. In 2022, Unilever acquired a majority stake in Nutrafol, integrating the brand into its Health & Wellbeing division, which also includes other notable names such as Liquid I.V. and Onnit.
In addition to its hair growth products, Nutrafol has recently expanded into the skincare market. In February 2024, the company launched a new daily supplement aimed at women over the age of 18 who experience mild to moderate acne. This launch represents Nutrafol’s ongoing commitment to addressing various skin and hair health concerns with a holistic approach.
Reflecting on the brand’s journey, Tsetis remarked, “What we have built, and more importantly, the people we have been able to help as a result, is truly a dream realised. We have made a tremendous impact on so many lives, but we also know that women are plagued by another confidence killer, acne. So, for the past two-and-a-half years, we have brought all of the scientific resources and research available to us at Nutrafol to develop our whole-body approach for women struggling with their skin.”
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