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| Type | Subsidiary |
|---|---|
| Industry | Consumer Packaged Goods |
| Founded | 1930 |
| Founder | Emanuel Stolaroff |
| Headquarters | Los Angeles , United States |
Area served | Worldwide |
| Revenue |  $16 billion USD (2010) |
| Parent | Johnson & Johnson |
| Website | Neutrogena.com |
Neutrogena is an American brand of skin care, hair care and cosmetics owned by Johnson & Johnson and is headquartered in Los Angeles, California.[1] 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. It is now part of the US-based Johnson & Johnson conglomerate, which bought the independent company in 1994.[2]
History
In 1930, Emanuel Stolaroff 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.[1] By then, Lloyd Cotsen had entered the Stolaroff family by marrying his daughter Joanne Stolaroff.[3] In 1962, the company name was officially changed to Neutrogena Corporation; Cotsen became president in 1967.[4]
The company listed publicly on the NASDAQ in 1973, with a market value of $1.2 million. Cotsen started marketing soap through 2 major channels: dermatologists and luxury hotels.[5] 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.[3] In 1982, profits reached US$3 million, and Cotsen was named the CEO.[3]
In 1994, Johnson & Johnson acquired Neutrogena for $924 million, at a price of $35.25 per share.[6] 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.[1]
References
- ^ a b c Neutrogena.com | Archived 2011-05-08 at the Wayback Machine
- ^ HOFMEISTER, SALLIE (23 August 1994). "Johnson To Acquire Neutrogena". NY Times.
- ^ a b c Company Perspectives: While continuing the Neutrogena past
- ^ "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"
- ^ "NEUTROGENA CORP, Form SC 14D9, Filing Date Aug 26, 1994". secdatabase.com. Retrieved May 15, 2018.