Personal Care Conglomerate Kimberly-Clark Acquires Majority Stake in Thinx, a Period Underwear Brand

The maker of Kotex and Kleenex had initially invested $25 million in Thinx in 2019. The year prior, Thinx generated $50 million in annual sales, according to a Wall Street Journal report. The terms of the deal were not disclosed.

Founded nearly a decade ago through a Kickstarter campaign, Thinx was an early player in the leak-proof underwear category. In 2017, the company encountered controversy after a former employee accused co-founder Miki Agrawal of sexual harassment and inappropriate behaviour. Agrawal has since exited the company.

“Our investment in the success of Thinx represents a compelling strategic fit as we build our portfolio of period and light bladder leakage solutions,” Russ Torres, group president of Kimberly-Clark’s North American consumer business, said in a statement.

Period clothing is a growing market. Knix, a Toronto-based underwear brand also known for its leak-proof products, raised $43.5 million in a growth equity fundraising round last May. Newcomers have entered the space in recent years, such as Saalt and the Period Company, co-founded by stylist Karla Welch in 2020.

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