- Founders Lindsey Boyd and Gwen Whiting would continue to manage the headquarters of The Laundress and one of its outlet in New York.
- The valuation of the deal is being speculated to be about USD 100 million.
The British-Dutch multinational consumer goods firm Unilever has reportedly acquired the New York-based global premium eco-friendly cleaning products manufacturer The Laundress. Although the financial terms of the acquisition agreement were not disclosed, reliable sources claim that the figure stands at about USD 100 million.
Reportedly, the takeover of The Laundress would help Unilever in expanding its portfolio in the high-grade cleaning products sector and fit well in the Sustainable Living Plan of Unilever. Sources familiar with the matter claim that the company has resolved to cut its environmental footprint by about 50 percent till the year 2030.
Founded in 2004 by Lindsey Boyd and Gwen Whiting, the New York City-headquartered company manufactures eco-friendly premium line of home cleaning, detergent, fabric care products. The duo reportedly turned their experience in the fashion industry toward creating advanced products to assist customers better care for their designer clothing.
The products of The Laundress are manufactured from plant-derived ingredients with no animal by-products and are free of chlorine bleach, parabens, phosphate, phthalates, petroleum, sodium lauryl sulfate, and allergens. They are currently sold in a concentrated form that utilizes less amount of water.
When Boyd worked for Chanel and Whiting for Ralph Lauren, the duo noticed that people invested a lot of money in their clothing but did not pay much attention to the way they cleaned it.
Co-founder of The Laundress, Gwen Whiting was reportedly quoted saying that the company set out to develop its own alternatives as the founders grew frustrated with ineffective cleaning products, dingy white T-shirts, and items ruined by the dry cleaners