Neutrogena

From Wikipedia the free encyclopedia

Neutrogena Corporation
TypeSubsidiary
IndustryConsumer packaged goods
Founded1930; 91 years ago (1930)
FounderEmanuel Stolaroff
Headquarters,
United States
Area served
Worldwide
Revenueless than US$ 4 billion (2020)
ParentJohnson & Johnson
WebsiteNeutrogena.com

Neutrogena Corporation[1] trading as Neutrogena, is an American company that markets skin care, hair care and cosmetics 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.

Neutrogena was founded in 1930 by Emanuel Stolaroff, and was originally a cosmetics company named Natone. Johnson & Johnson acquired the independent company in 1994.[3]

The company originally supplied to department stores and salons that catered for the Hollywood film industry[4]

History[edit]

In 1930, Emanuel Stolaroff (1900–1984[5]) started a small company called Natone. Soon, it grew into a larger business, and he started expanding it into retail markets. 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.[4] In 1962, the company name was officially changed to Neutrogena Corporation; Cotsen became president in 1967.[6]

The company listed publicly on the NASDAQ in 1973, with a market value of $1.2 million. Cotsen started marketing soap through two major channels: dermatologists and luxury hotels.[7] Neutrogena managed to stay clear of any major pricing wars, like those of other big corporations of that generation. It launched product lines in acne and anti-aging areas.[4] In 1982, profits reached US$3 million, and Cotsen was named the CEO.[4]

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]

In July 2021, parent company Johnson & Johnson recalled many of the Neutrogena, as well as Aveeno, aerosol spray sunscreens from stores in the United States, detecting that benzene, a chemical tested to, in some samples, cause cancer.[8] The company went on to state that benzene is not used in the manufacturing process of the sprays and has begun an investigation into the source of the contamination.[9][10]

References[edit]

  1. ^ a b "NEUTROGENA CORP, Form SC 14D9, Filing Date Aug 26, 1994". secdatabase.com. Retrieved May 15, 2018.
  2. ^ a b c Neutrogena.com | Archived 2011-05-08 at the Wayback Machine
  3. ^ Hofmeister, Sallie (23 August 1994). "Johnson to Acquire Neutrogena". The New York Times.
  4. ^ a b c d Company Perspectives: While continuing the Neutrogena past
  5. ^ "Emanuel Stolaroff". Find a Grave. Retrieved 2021-04-23.
  6. ^ "Neutrogena Chairman Lloyd Cotsen Dies at 88". www.usnews.com. 2017. Archived from the original on 2017-08-02.
  7. ^ "Gale Directory of Company Histories: Neutrogena Corporation"
  8. ^ "CDC | Facts About Benzene". Emergency Preparedness and Response. Centers for Disease Control and Prevention (CDC). 2019-05-15. Retrieved 2021-07-15.
  9. ^ Schwartz, Felicia (2021-07-15). "J&J Recalls Aveeno, Neutrogena Spray Sunscreens". The Wall Street Journal. ISSN 0099-9660. Retrieved 2021-07-15.
  10. ^ "Johnson & Johnson sunscreen recall, Neutrogena Ultra Sheer and all the products affected". Newsweek. 2021-07-15. Retrieved 2021-07-15.

External links[edit]