(Reuters) - Unilever ( UL ) on Thursday said that it was taking steps to close its skincare business REN, citing internal challenges that were made worse by market conditions and "left the brand unable to sustain success in the long term."

The consumer goods company, which makes Dove soap and Vaseline, said there was no fixed date for the closure of REN, but it expects the brand to stop trading by the end of the third quarter this year.

(Reporting by Pushkala Aripaka in Bengaluru; Editing by Mrigank Dhaniwala)