From Wikipedia the free encyclopedia
|Industry||Consumer packaged goods|
|Revenue||less than US$ 4 billion (2020)|
|Parent||Johnson & Johnson|
Neutrogena Corporation 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. 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.
In 1930, Emanuel Stolaroff (1900–1984) 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. By then, Lloyd Cotsen had entered the Stolaroff family by marrying his daughter Joanne Stolaroff. In 1962, the company name was officially changed to Neutrogena Corporation; Cotsen became president in 1967.
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. 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. In 1982, profits reached US$3 million, and Cotsen was named the CEO.
In 1994, Johnson & Johnson acquired Neutrogena for $924 million, at a price of $35.25 per share. 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.
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. 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.
- "NEUTROGENA CORP, Form SC 14D9, Filing Date Aug 26, 1994". secdatabase.com. Retrieved May 15, 2018.
- Neutrogena.com | Archived 2011-05-08 at the Wayback Machine
- Hofmeister, Sallie (23 August 1994). "Johnson to Acquire Neutrogena". The New York Times.
- Company Perspectives: While continuing the Neutrogena past
- "Emanuel Stolaroff". Find a Grave. Retrieved 2021-04-23.
- "Neutrogena Chairman Lloyd Cotsen Dies at 88". www.usnews.com. 2017. Archived from the original on 2017-08-02.
- "Gale Directory of Company Histories: Neutrogena Corporation"
- "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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