Kimberly-Clark Acquires Majority Interest in Thinx

DALLAS, Feb. 24, 2022 /PRNewswire/ -- Kimberly-Clark Corporation (NYSE: KMB), the pioneer of menstrual hygiene products, announced that it has completed its acquisition of a majority stake in Thinx, Inc., an industry disruptor and the leader in reusable period and incontinence underwear category. The company made an initial minority investment in Thinx in 2019.

"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," said Russ Torres, Group President of Kimberly-Clark's North American consumer business. "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."

"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 organization to realize our mission and vision, and to enable Thinx underwear to more quickly become a mainstream product for period and bladder leak needs," said Maria Molland, CEO of Thinx. "I'm 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."

"We have tremendous respect for Thinx and its accomplishments in period and light bladder leakage reusable underwear," said Alison Lewis, Chief Growth Officer for Kimberly-Clark. "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."

Thinx continues to be a leader 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. Market trends also confirm consumers are seeking these additional solutions for their period and bladder leak needs.

Terms of the transaction are not being disclosed.

About Kimberly-Clark

Kimberly-Clark (NYSE: KMB) and its trusted brands are an indispensable part of life for people in more than 175 countries. Fueled by ingenuity, creativity, and an understanding of people's most essential needs, we create products that help individuals experience more of what's important to them. Our portfolio of brands, including Huggies, Kleenex, Scott, Kotex, Cottonelle, Poise, Depend, Andrex, Pull-Ups, GoodNites, Intimus, Neve, Plenitud, Sweety, Softex, Viva and WypAll, hold the No. 1 or No. 2 share position in 80 countries. We use sustainable practices that support a healthy planet, build stronger communities, and ensure our business thrives for decades to come. To keep up with the latest news and to learn more about the company's nearly 150-year history of innovation, visit kimberly-clark.com.

About Thinx

Thinx Inc. is a family of four brands dedicated to creating products that support bodies from puberty to post-menopause. Together, Thinx, Thinx (BTWN), Speax by Thinx, and Thinx for All™ are on a mission to be the most innovative leader at bringing sustainable and comfortable menstruation and incontinence products to market. We strive to deliver the safest products available and work to go beyond global regulatory requirements with our STANDARD 100 by OEKO-TEX® certification [20.HUS.04850 | HOHENSTEIN HTTI]. Our innovation has been recognized by top industry publications, ranking #1 in 2019 for Best Period Panties by both Women's Health Magazine and Good Housekeeping. Thinx was ranked #1 for Women's Health Best Tech Gadgets for Women in 2018. Thinx was ranked #1 on Crain's "Fast 50" New York List in 2018, listed as one of CNBC's Most Disruptive Companies of 2018 and Inc. 5000's Fastest Growing Private Company of 2018. Visit thinx.com for more information.

Certain matters contained in this news release concerning the benefits of the anticipated investment in Thinx constitute forward-looking statements and are based upon management's expectations and beliefs concerning future events impacting the company. There can be no assurance that these future events will occur as anticipated. Forward-looking statements speak only as of the date they were made, and we undertake no obligation to publicly update them. For a description of certain factors that could cause the company's future results to differ from those expressed in any such forward-looking statements, see Item 1A of the company's Annual Report on Form 10-K for the year ended December 31, 2021 entitled "Risk Factors."

[KMB-C]

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SOURCE Kimberly-Clark