Kimberly-Clark Corporation, a maker of menstrual hygiene products, announced that it has completed the acquisition of a majority stake in Thinx, Inc., a reusable period and incontinence underwear product producer.
The company made an initial minority investment in Thinx in 2019.
A Compelling Strategic Fit
Speaking on the acquisition, Russ Torres, group president of Kimberly-Clark's North American consumer business, said, "Our investment in the success of Thinx represents a compelling strategic fit as we build our portfolio of period and light bladder leakage solutions, and we are excited for the opportunity this expanded partnership will provide to both Kimberly-Clark and Thinx."
"The investment in Thinx paves the road for collaboration and allows us to work together to drive category growth with our retail partners while continuing to support Thinx in direct-to-consumer channels," Torres added.
Alison Lewis, chief growth officer for Kimberly-Clark, said, "We have tremendous respect for Thinx and its accomplishments in period and light bladder leakage reusable underwear.
"The Thinx value proposition is particularly meaningful because it's rooted in purpose and consumer need. We're excited to partner with Thinx to bring these breakthrough products to more people and accelerate growth in this category."
Kimberly-Clark Corporation reported full-year sales growth of 2%, to $19.4 billion (€17.4 billion), in its financial year 2021.
Maria Molland, CEO of Thinx, commented, "Kimberly-Clark invented the 'femcare' category 100 years ago and Thinx invented the 'femtech' category nine years ago. It's fitting that we will be working more closely with a like-minded organisation to realise our mission and vision, and to enable Thinx underwear to more quickly become a mainstream product for period and bladder leak needs."
Molland said she was "so proud of the work this team has done to get to this point and thrilled that Kimberly-Clark is dedicated to not only helping us retain our entrepreneurial character, but also giving us the opportunity to tap into their expertise to accelerate our growth and ability to innovate."
Thinx is one of the leading names in the reusable period and incontinence underwear category.
With the continued advancement of hybrid environments, more consumers are staying and working from home, and they are demonstrating increased awareness and consideration for the category, Kimberly-Clark noted.
Market trends also confirm consumers are seeking these additional solutions for personal hygiene requirements.