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Industry Talk

Essity expands in leakproof apparel

Acquisitions strengthen position in the fastest growing product segment in intimate hygiene.

5th September 2022

Innovation in Textiles
 |  Stockholm, Sweden

Medical/Hygiene

Stockholm-headquartered Essity has finalised the acquisitions of the Canadian company Knix Wear and the Australian company Modibodi – both leading providers of leakproof apparel for periods and incontinence.

With these acquisitions, Essity will become the global market leader within leakproof apparel – the fastest growing product segment in intimate hygiene which includes feminine care and incontinence products.

Leakproof apparel has an expected annual growth rate of more than 20% for the next five years and Essity is already active in the market with feminine care brands such as Libresse, Bodyform, Saba and TOM Organic, and within incontinence products under the Tena brand.

Knix offers a broad assortment of intimate apparel with leading positions in the growing leakproof apparel category. The company has a strong presence in the US and Canada and sells mainly direct-to-consumer through online channels, supplemented by six Knix retail stores. The company was founded in 2013 by CEO Joanna Griffiths with the mission to redefine intimates. Knix and its teen brand, Kt by Knix, offer a broad assortment of intimate apparel. Essity has acquired 80% of the shares in Knix. Joanna Griffiths will hold the remaining 20% shares and will stay on as president. The total enterprise value of Knix amounts to US$400 million. In 2021, the company reported net sales of C$133.6 million and a sales growth of 97%.

Modibodi provides leakproof apparel for periods and incontinence. The company has a strong presence in Australia, New Zealand and the UK and operates an online, direct-to-consumer business model, with growing sales in retail and through e-tailers.

In 2021, the company reported net sales of A$56.7 million and sales growth of 18%.

Knix has been consolidated into Essity’s accounts as of September 1, 2022, and Modibodi from August 1, 2022.

www.essity.com

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