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WOMEN OF THE WORLD - VASILIKI PETROU
WOMEN OF THE WORLD
VASILIKI PETROU
I'm delighted to introduce Vasiliki,
certainly a force in the world of
beauty, including holding the Chair at
the CEW (cosmetic executive women).
She is wise, knowledgeable and
generous with her support of others,
we need more Vasiliki's in the world!
KIM WINSER, OBE
Vasiliki Petrou is Global EVP and Group CEO of Unilever Prestige, which incorporates Dermalogica, Murad, REN, Living Proof, Paula’s Choice, Kate Somerville, Hourglass, Tatcha and Garancia.
Born in Greece, she holds a Masters degree in English & Communications from the University of Texas (Vasiliki went to the US as a Fulbright Scholar) and an MBA from Columbia Business School in New York City. After graduating, she joined Procter & Gamble, where she led various positions in global and local roles from haircare to colour cosmetics.
Vasiliki parted company with P&G a decade ago when she was appointed Vice President of the Personal Care division at Unilever, before assuming her current role heading up the newly-formed Prestige division in 2014, overseeing acquisitions of REN, Kate Somerville, Murad and Dermalogica the following year. Prestige turnover exceeded €1 billion in 2021, with ambitions to treble that figure in the next few years.
A recipient of the Kellogg Foundation Fellowship in recognition of female leaders, Vasiliki is currently Chair of Cosmetic Executive Women (CEW), which has a 10,000-strong network of members that support, mentor and connect women in the global beauty industry. Fluent in four languages, she lives in London with her husband and their two children, Yannis, 19, and 16 year-old Eva.
Born in Greece, she holds a Masters degree in English & Communications from the University of Texas (Vasiliki went to the US as a Fulbright Scholar) and an MBA from Columbia Business School in New York City. After graduating, she joined Procter & Gamble, where she led various positions in global and local roles from haircare to colour cosmetics.
Vasiliki parted company with P&G a decade ago when she was appointed Vice President of the Personal Care division at Unilever, before assuming her current role heading up the newly-formed Prestige division in 2014, overseeing acquisitions of REN, Kate Somerville, Murad and Dermalogica the following year. Prestige turnover exceeded €1 billion in 2021, with ambitions to treble that figure in the next few years.
A recipient of the Kellogg Foundation Fellowship in recognition of female leaders, Vasiliki is currently Chair of Cosmetic Executive Women (CEW), which has a 10,000-strong network of members that support, mentor and connect women in the global beauty industry. Fluent in four languages, she lives in London with her husband and their two children, Yannis, 19, and 16 year-old Eva.
KW: How would you describe your leadership style?
VP: I see my role as a parent to a family of brands at different life phases: some are young enterprises that need more attention and nurturing, while others are more established. Like children, each of our brands has their own authentic character, so I want them to retain that identity as they grow. For that reason, we don’t integrate businesses: each has their own CEO and HQ, their own P&L, their own global business plan, so they continue to build on their unique values and ethics.
I expect high performance from everyone I work with. I want to leave legacies wherever we operate. The world needs big solutions to big issues, so I am passionate about hiring great people and giving them the freedom and resources to create magic in their sphere. I want new thinking, new paths forward. Don’t tell me what our competitors are doing: we don’t want to follow.
I have learned so much from Gen Z and their sense that experiences matter more than ownership of possessions. I love to spend time with the younger people in our business, because they are tapped into pop culture and have fresh ways of doing things that can be so informative for the senior teams.
VP: I see my role as a parent to a family of brands at different life phases: some are young enterprises that need more attention and nurturing, while others are more established. Like children, each of our brands has their own authentic character, so I want them to retain that identity as they grow. For that reason, we don’t integrate businesses: each has their own CEO and HQ, their own P&L, their own global business plan, so they continue to build on their unique values and ethics.
I expect high performance from everyone I work with. I want to leave legacies wherever we operate. The world needs big solutions to big issues, so I am passionate about hiring great people and giving them the freedom and resources to create magic in their sphere. I want new thinking, new paths forward. Don’t tell me what our competitors are doing: we don’t want to follow.
I have learned so much from Gen Z and their sense that experiences matter more than ownership of possessions. I love to spend time with the younger people in our business, because they are tapped into pop culture and have fresh ways of doing things that can be so informative for the senior teams.
I expect high performance from everyone I work with. I want to leave legacies wherever we operate. The world needs big solutions to big issues, so I am passionate about hiring great people and giving them the freedom and resources to create magic in their sphere. I want new thinking, new paths forward. Don’t tell me what our competitors are doing: we don’t want to follow.
I have learned so much from Gen Z and their sense that experiences matter more than ownership of possessions. I love to spend time with the younger people in our business, because they are tapped into pop culture and have fresh ways of doing things that can be so informative for the senior teams.
VP: I see my role as a parent to a family of brands at different life phases: some are young enterprises that need more attention and nurturing, while others are more established. Like children, each of our brands has their own authentic character, so I want them to retain that identity as they grow. For that reason, we don’t integrate businesses: each has their own CEO and HQ, their own P&L, their own global business plan, so they continue to build on their unique values and ethics.
I expect high performance from everyone I work with. I want to leave legacies wherever we operate. The world needs big solutions to big issues, so I am passionate about hiring great people and giving them the freedom and resources to create magic in their sphere. I want new thinking, new paths forward. Don’t tell me what our competitors are doing: we don’t want to follow.
I have learned so much from Gen Z and their sense that experiences matter more than ownership of possessions. I love to spend time with the younger people in our business, because they are tapped into pop culture and have fresh ways of doing things that can be so informative for the senior teams.
How do you promote professional development in your teams?
I believe in stimulating creativity and trusting teams to develop through co-creation. Our “Pitch’ hub in London is a non-conventional workplace, where I envisaged an environment that made people think differently and be excited by ideas. We have artists come in to do workshops and provide unconventional thinking and inspiration. I installed sleep pods to give people space to experiment with short naps and how that affects creativity.
Jane Wurwand taught me the power of vocational training. She founded the International Dermal Institute (IDI), which set an international gold standard for postgraduate skin education. Dermalogica now trains 100,000 people every year in nearly 40 locations. But we also have Natalia, a virtual trainer, who supports global product training through digital platforms.
We know that the key to so much of human identity is touch and personal connections – and that was what so much missed during the pandemic. We don’t use chatbots for online consultations: people are individuals and can feel overwhelmed by product choice, so we invest in training to deliver remote consultations in most of the cases.
Jane Wurwand taught me the power of vocational training. She founded the International Dermal Institute (IDI), which set an international gold standard for postgraduate skin education. Dermalogica now trains 100,000 people every year in nearly 40 locations. But we also have Natalia, a virtual trainer, who supports global product training through digital platforms.
We know that the key to so much of human identity is touch and personal connections – and that was what so much missed during the pandemic. We don’t use chatbots for online consultations: people are individuals and can feel overwhelmed by product choice, so we invest in training to deliver remote consultations in most of the cases.
What would you like your legacy to be?
I am well respected and successful in my industry. I am a fervent advocate of quotas to get women in board positions, otherwise progress will not happen at speed. I want my legacy to be that I supported female entrepreneurs and created a business model that teaches companies on “how to buy and grow companies vs buy and crash”. I believe that I have a duty to help young people leveraging my experience and network.
Your business model is built on acquiring brands: how do you curate your portfolio?
Out of 200 or more assets, ten might be shortlisted and one acquired. I’m always out and about, sniffing around, discovering what is new and exciting and creating a real buzz, but not just from marketing hype. If I’m going to add a new business to my existing ‘string of pearls’, it has to have roots, an authentic brand story, strong brand equity, values and purpose, a social conscience, sustainability and global relevance.
I believe passionately in the authenticity of brands, and that they retain their integrity when they join our family. For example, I tried the foundation stick from Hourglass and loved it: this was the first true cruelty-free luxury colour cosmetics brand. I contacted the founder, Carisa Janes, and felt her values, creativity and vision immediately. Through partnering with Unilever we were able to do an unprecedented innovation on a carmine free red lipstick (no more crushed beetles).
I believe passionately in the authenticity of brands, and that they retain their integrity when they join our family. For example, I tried the foundation stick from Hourglass and loved it: this was the first true cruelty-free luxury colour cosmetics brand. I contacted the founder, Carisa Janes, and felt her values, creativity and vision immediately. Through partnering with Unilever we were able to do an unprecedented innovation on a carmine free red lipstick (no more crushed beetles).
During your career, the digital era has changed the world dramatically. What does that mean to you as a business leader?
Unilever Prestige is about digital innovation and luxury, even in a market selling products that are have a tactile heart at their core. I am playing at the intersection of human touch and technology. Beauty tech companies and data analytics are vital to success now and in the future: a big part of our business is e-commerce, and that direct consumer contact allows us to understand behaviours, wants and desires. But I also use my gut and instinct with hard data to make decisions. Women have a different energy and an emotional intelligence that informs the way we lead businesses.
The digital revolution has helped indie brands enter the marketplace much more quickly and effectively, sharing their unique stories and building the foundations of a solid business by nurturing powerful relationships with customers.
The digital revolution has helped indie brands enter the marketplace much more quickly and effectively, sharing their unique stories and building the foundations of a solid business by nurturing powerful relationships with customers.
You reference the environment: sustainability is one of the biggest challenges facing the human race. How do you reconcile that with your role at the helm of businesses that manufacture consumable products for profit, in an industry not known for its green credentials?
The solutions for perfection in terms of sustainability don’t yet exist: You can’t do it overnight, but we must keep the pressure on. It is about the journey and we must all celebrate small wins and the journey vs only the destination.
How important is it for businesses to contribute to society beyond their own products and profit?
I turn up at work every day because we are impacting lives in a positive way. Tatcha, our Japanese skincare business, supports the Room to Read education programme in Africa and Southeast Asia, and has started a similar literacy programme in the US. We know that education helps to break the cycle of poverty and improves health outcomes. Murad does wellness programmes on cultural stress, inspired by Dr Murad’s philosophical discussions and approach to a 360 holistic approach to skincare and beyond.
Looking at your own wellness, how do you spend time ‘off duty’?
I grew up in the Greek town of Volos, and love to be by the sea and to swim. I am into energy, meditation and philosophy. I do Tai Chi, which came as a revelation to me on a retreat in Bali, so I came back and found a teacher in London, who was trained by Chinese monks. I like variety, so have a trainer for boxing and cardio workouts. I also love to walk, and find that being in nature helps me think with a clear head. I’ve played piano since childhood and play at home too. I’m a member at the Tate and the Royal Academy, and find being in those spaces inspiring and rejeuvenating. Travel is inspiring too: seeing new places and meeting different people gives me energy.
