LONDON—In 2016, Unilever made headlines with its $1bn purchase of the irreverent subscription service Dollar Shave Club (DSC). The deal was expected to offer Unilever a big leg up leap into direct-to-consumer territory, edging the giant into a new era of digital-first brand building. Yet by 2023, Unilever had divested DSC for an undisclosed sum. As Rob Sellers for THE GOODS reported, Unilever had struggled to retain DSC’s challenger spirit and customer loyalty within a large corporate structure.
Fast-forward to 2025, and Unilever appears ready to try again with a challenger brand. According to Sky News, the company is rumoured to be in final talks to acquire the refillable deodorant business Wild for £230m. The question now is whether Unilever can deploy the lessons learned from DSC to nurture—rather than dilute—the identity that has fuelled Wild’s impressive growth and product innovation.
Context: Unilever’s Mixed Results and Strategic Repositioning
Before exploring Wild’s potential, it is worth noting Unilever’s recent financial performance. In its Q4 and full-year results for 2024:
- USG reached 4.2%, yet turnover on a reported basis climbed by only 1.9% to €60.8bn.
- Underlying operating profit rose 12.6% to €11.2bn, while reported operating profit dropped 3.7% to €9.4bn.
The company continues to reshape its business, particularly through demerging its giant Ice Cream division (set for a separate stock exchange listing).
Personal Care (which includes Dove, Lifebuoy, and Lux) delivered a USG of 5.2%, though turnover on a reported basis declined 1.5% to €13.6bn. Meanwhile, the Beauty & Wellbeing unit—encompassing prestige brands like Hourglass and Tatcha—grew 6.5% in USG but faced slower reported turnover growth of 5.5% (totalling €13.2bn).
Amid this backdrop, the news that Unilever is close to announcing the purchase of Wild could bolster its personal care portfolio, especially in the high-growth category of sustainable, refillable products.
Learning from the Past: The Dollar Shave Club Legacy
What Went Wrong?
Cultural mismatch emerged as the leading cause of DSC’s underperformance. Dollar Shave Club’s brand identity rested on irreverent humour, a “challenger brand” ethos, and direct engagement with millennial and Gen Z consumers. Once inside Unilever, DSC’s marketing lost its edge, its pricing power eroded under margin pressures, and its pioneering spirit faded. Larry E Bodner, DSC’s CEO at the time, noted that the once “rebellious” brand simply could not maintain its voice under Unilever’s traditional operating model.
Strategic Implication
When a multinational acquires an innovative start-up, culture clash is common if the acquirer applies heavy-handed processes or centralises decision-making too quickly.
The potential sweet spot for Wild lies in leveraging a multinational’s scale and resources while preserving the brand identity that initially endeared it to consumers.
In DSC’s case, that balance never materialised: the brand’s cutting-edge marketing and pricing strategies conflicted with Unilever’s established systems, leading to waning consumer engagement.
The Wild Opportunity
Sustainability as a Differentiator
Founded in 2019, Wild has emerged as a multi-channel personal care success story, thanks to its eco-friendly focus on refillable deodorants (their staple) and additional personal care items–lip balms, bodywashes, and handwashes.
According to Statista:
“The global deodorants market is projected to generate US$27.80bn in revenue in 2025… with per capita revenues of US$3.56 anticipated in the same year. The demand for natural and organic deodorants is on the rise around the globe, including in the United States, as consumers prioritise health and sustainability.”
Meanwhile, Mintel notes that consumers expect ‘clean brands’ to demonstrate complete transparency—especially regarding product origins, ingredients, and packaging. Should Wild formally join Unilever’s portfolio, such scrutiny will intensify.
“Sustainable brands need to explain why their products command a higher price tag rather than relying on sustainability claims alone,” says Mintel.
“They must emphasise performance and overall value, positioning eco-friendliness as an added benefit. While a single green attribute—like biodegradable packaging—may convince some shoppers to switch, truly earning their trust requires proving that every aspect of the product is ‘clean,’ from ingredients to safety and effectiveness.”
For Wild—widely recognised for its eco-friendly ethos—maintaining authenticity under the umbrella of a global conglomerate could be both a challenge and a defining opportunity.
Proof of Concept: Wild's Growth and Profitability
Wild reported a 77% year-on-year sales increase in 2023, reaching £47m in revenue and marking its first profitable year. By 2025, industry analysts forecast the brand could exceed £70m annually, having established both a robust online subscription base and a presence in major UK retailers like Boots and Superdrug.
This multi-channel strategy will count towards Wild’s resilience that DSC didn't have, relying almost exclusively on subscriptions. Considering Unilever’s global muscle, expanding Wild’s distribution footprint presents a significant growth opportunity—provided the brand remains true to its disruptive identity.
Strategic Considerations for Unilever
1. Cultural Integration vs. Autonomy
Preserving Wild’s core DNA is paramount. As DSC’s story illustrates, an overly centralised approach can stifle the very attributes—edgy marketing, direct consumer engagement, and playful branding—that win a challenger brand its fans.
Unilever will do well to consider maintaining Wild as a largely independent business unit, preserving its nimble decision-making and provocative style.
2. Leveraging Synergies
Unilever’s extensive global distribution network could rapidly scale Wild, both geographically and into adjacent product lines (e.g., hair care or skincare). The brand’s sustainability credentials align with Unilever’s broader focus on environmental responsibility—though critics have accused the conglomerate of “greenwashing” in the past.
Wild can utilise Unilever’s scale to enhance rather than dilute its brand proposition, capturing a bigger share of the strong market for eco-conscious personal care.
3. Managing Price Sensitivity
A principal factor in DSC’s decline was losing its nimble pricing edge within a larger corporation. Wild’s current premium positioning reflects its eco-friendly angle—a value-add that resonates with consumers who prioritise sustainability. Still, integrating into Unilever could reduce production costs, providing a margin buffer for innovation and marketing.
The key here will be to avoid unnecessary price slashing steering well clear of discount stores. Wild’s core audience may perceive steep discounting or mass-market positioning as compromising its quality and ethics.
4. Communication & Brand Narrative
From banned TV spots to tongue-in-cheek social media campaigns, Wild’s brand narrative courts controversy and attention. Similarly, DSC’s viral ad was central to its success, before corporate oversight subdued its tone.
Unilever know they need to get it right this time. Striking a balanced approach to governance that maintains Wild’s creative energy, while managing reputational risks will be good news; Over-cautious oversight could alienate its loyal fan base.
Strategic Agency Involvement
The creative agencies Unilever assigns to Wild will need to preserve its distinctive edge—ensuring its voice resonates long after the ink on the acquisition dries. Can Ogilvy simply repurpose its award-winning Dove campaigns for Wild? No. While Dove’s empowering, body-positive messaging have earned a shelf of accolades, Wild’s DNA is brazenly different—quirky, rebellious, and laser-focused on sustainability-savvy consumers seeking something offbeat. Adopting a legacy brand’s creative formula risks alienating the very audience that embraced Wild’s off-kilter vibe. Instead, any agency charged with Wild’s creative must craft new campaigns that honour the brand’s fearless energy, even as it benefits from Unilever’s global heft.
Preserving the Challenger Mindset: A Framework
If this acquisition proceeds, Unilever and Wild might consider these four core principles to maintain momentum:
- Identify Core Autonomy
Decide which key areas—marketing, product innovation, etc.—remain firmly under Wild’s control. - Define Integration Points
Pinpoint where Unilever’s resources (e.g., supply chain, back-office operations) can amplify rather than dilute brand identity. - Track Cultural Health
Conduct regular cultural diagnostics and brand audits, gathering feedback from employees, partners, and customers to ensure Wild’s ethos stays intact. - Invest in Brand Evangelists
Empower existing Wild leadership to champion the brand’s ethos within the wider organisation, preventing “big-company” inertia from dampening innovation.
The rumoured £230m price tag underscores Unilever’s renewed ambition in the DTC space, this time informed by the hard lessons of DSC’s trajectory. Should the deal be finalised, Wild’s success will hinge on Unilever’s ability to embrace, rather than assimilate, the brand’s challenger spirit—an outcome that is notoriously difficult to achieve in a business with over 400 labels worldwide.
Yet with consumer demand for greener, more innovative personal care products on the rise—and the market for sustainability-focused brands projected to see double-digit growth—Wild’s proposition neatly aligns with modern consumer priorities. If managed thoughtfully, this acquisition could illuminate how a global conglomerate can harness a challenger brand’s loyal following without sacrificing the very elements that made it disruptive in the first place.
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