Unilever to sell Thai direct selling business Unilever Life to RS Group
Unilever has agreed to divest Unilever Life, its direct selling business in Thailand, to Thai media company RS Group for an undisclosed price.
Unilever Life operates as a multi-level marketing (MLM) direct selling business. It has a portfolio of three brands, namely Beyonde, iFresh, and Aviance.
Robert Candelino — CEO of Unilever Thailand said: “For the past 20 years, Unilever Life has disrupted the market with its unique business model, dynamic innovation, wonderful people and noble purpose of creating opportunities for people to realise their dreams. We are proud of this business, our people and its legacy.
“We are excited for this business to begin its next chapter under the new ownership and the continued leadership of Unilever Life President, Suchada Theeravachirakul.”
Unilever to sell Thai direct selling business Unilever Life to RS Group. Photo courtesy of Unilever.
The closing of the deal, which is subject to the meeting of certain conditions, is expected to occur in three to four months.
Surachai Chetchotisak — CEO of RS Public Company Limited said: “Acquiring or investing in businesses or assets with growth potential (M&A) is one of the core strategies of RS Group, which will significantly expand the Company’s ecosystem.
“This decision to acquire Unilever Life – which is a purposeful business that helps Thai people become entrepreneurs through trusted platform, will strengthen RS Group’s commerce business model and reach a wider range of target groups in new distribution channels. Therefore, it increases business opportunities and creates added value for the company too.”