# Who are Kenvue Inc.'s customers? Who does Kenvue Inc. earn revenue from?
Canonical: https://valuechain.wiki/kenvue · Facet: customers · Updated: 2026-09-23T08:23:27.7108+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Kenvue Inc.'s confirmed revenue counterparties include Walmart Inc, Costco Wholesale. Per the valuechain.wiki graph: 2 revenue edges, backed by 2 dated sources, 1 of them primary filings (as of 2026-09-23).

### 킴벌리클라크 (high)  → /kimberly-clark.md
- metric: Contract value $48.7B · Proposed transaction announced 2025-11-03 · Announced enterprise value of the proposed Kenvue acquisition
- note: Kimberly-Clark signed a merger agreement to acquire all outstanding Kenvue shares for cash and stock. Because the transaction has not yet closed, the metric reflects the announced enterprise value.
- [confirms] U.S. Securities and Exchange Commission (EN, filing, published 2026-02-20) https://www.sec.gov/Archives/edgar/data/1944048/000194404826000030/kvue-20251228.htm: "K-C will acquire all of the outstanding shares of the Company."
- [confirms] Kimberly-Clark Investor Relations (EN, ir, published 2025-11-03) https://www.investor.kimberly-clark.com/news-releases/news-release-details/kimberly-clark-acquire-kenvue-creating-32-billion-global-health: "Kimberly-Clark will acquire all of the outstanding shares of Kenvue common stock."
- [confirms] Newsis (KO, news, published 2025-11-03) https://mobile.newsis.com/view/NISX20251103_0003388569: "Kimberly-Clark will acquire Kenvue for $48.7 billion in cash and stock."

### Walmart Inc (high)  → /walmart.md
- note: Kenvue directly identifies Walmart as one of its five largest North American customers. Customer-specific revenue is not disclosed, while retail-media spending analysis independently confirms Walmart's central role in Kenvue's retail channel.
- [confirms] Sensor Tower (EN, research, published 2025-11-25) https://investgame.net/wp-content/uploads/2025/11/amazon_retail_media_report_1h_2025_v1_8625.pdf: "Kenvue: Amazon 6%, Walmart 68%, Target 3%, Other 23%."
- [confirms] U.S. Securities and Exchange Commission (EN, filing, published 2023-09-18) https://www.sec.gov/Archives/edgar/data/1944048/000162828023032464/kenvues-4debtexchange424b3.htm: "Kenvue’s top five customers in North America include mass retail customers such as Walmart."

### Costco Wholesale (high)  → /costco.md
- note: Kenvue directly identifies Costco as a wholesale and club-channel customer among its five largest customers in North America. Revenue attributable to Costco is not separately disclosed.
- [confirms] U.S. Securities and Exchange Commission (EN, filing, published 2023-09-18) https://www.sec.gov/Archives/edgar/data/1944048/000162828023032464/kenvues-4debtexchange424b3.htm: "wholesale/club customers such as Costco."

Reverse side: https://valuechain.wiki/kenvue/suppliers.md · Ripple: https://valuechain.wiki/kenvue/ripple.md

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Full node: https://valuechain.wiki/kenvue.md · JSON: https://valuechain.wiki/kenvue.json