The CEO of Unilever, Fernando Fernandez, said that the consumer goods company will invested in a disproportionate way in two of its largest markets – the United States and India – to ensure that the units obtain benefits of the scale, advantage and imprint of the parent’s wallet to offer a growth of the higher volume of the group.India is the second largest market for Unilever, after the United States, which represents 12% of the global sales of the British multinational. Growth rate at the India Unit, Hindustan Unilever, where the new CEO Priya Nair deals with Friday, has reduced itself in the last two years, since consumers have strengthened their budget among inflationary pressures.
“The momentum is building in India, where we recently appointed a new boss of the business, Priya Nair, who takes over after successfully guiding our global beauty and well -being activity,” said Fernandez during the UNILEver profit calls on Thursday. “Priya combines a profound understanding of our home assistance activity and the person in India who has successfully ran for many years with the knowledge of the international markets necessary to maintain our wallet in tune with the significant needs of consumers and changes in channels already visible on the market,” he added.The change of guard in the India unit comes almost five months after Unilever called Fernandez, then financial chief, to replace the CEO Hein Schumacher administrator who was ousted within a year and a half at the helm, to speed up the turn of the company. In Hul, Nair takes the place of Rohit Jawa, who had the shortest period of all the CEO of the company.
With the slowdown in China, everyone rediscovered India, Unilever had previously said, since its position in the country remained exceptional in slowing down global markets.Fernandez claimed to see an acceleration of sales in India, gaining market shares and growing rapidly in new channels such as Quick Commerce. The company provides that the market will grow faster in the second half of the civil year compared to the first.
“If you actually see the growth of the market in the last 12 weeks, we see an improvement. There has also been a lot of work that has happened in terms of transforming the wallet, in which we are actually investing behind the market makers beyond the basic portfolio. When we add up to all this, we started seeing a step forward in volume,” said Srinivas Phatak, acting. The company has invested in core and future formats and saw the sales of E -Commerce grow in double digits, with rapid trade channels also that also double the business.
“While we look at this opportunity for growth, we feel quite safe and at ease with the growth trajectory of India; we will expect this well,” he said.
