HUL first announced its decision to demerger its beauty and personal care (BPC) business in December last year. From April 1, 2024, he will develop his two specialized businesses: Beauty and Wellbeing (B&W) and Personal Care (PC).
“BPC will continue to be a source of value creation for us. However, the business models, innovation rhythms and competitive environments of B&W and PC are becoming different. This transition will allow us to further develop both businesses. It allows us to focus and leverage our strong portfolio.”Rohit Jawa, Chief Executive Officer and Managing Director of HUL, said:
At the company’s third quarter (Q3) financial results conference on January 19, Java confirmed the decision to strengthen the beauty business.
“Over the past six to seven months, we have clearly seen an opportunity to create value by leveraging our relatively strong market share in beauty and health.”
he added: “Now is the time to introduce a high level of specialization and focus to build a beauty and wellbeing company within HUL and separate it from personal care…Currently, we have expanded from mass to beauty, We are building a portfolio that serves all demanding areas of beauty care.” Prestige. ”
Java expressed confidence in the company’s new beauty division, which includes brands such as Pond’s, Lakmé, Simple, Love, Beauty and Planet.
It also includes prestige brands.
Prestige brands under the Unilever banner include Hourglass, Living Proof, Paula’s Choice and Tatcha.
“We have some beautiful stocks like Lakme and Pound, and we also have the ability to build small, digital-first brands like Simple, Love, Beauty, Earth. and Novology. In the future. With the addition of Prestige, we believe we now have a complete portfolio that can play in a very exciting market. We are poised for significant growth for many decades to come.” Java said.
“Exciting days ahead”
HUL’s move mirrors Unilever’s decision to similarly demerger its beauty and personal care business in 2022.
Java said this strategic move would allow the division to significantly expand its beauty business.
“We’ve pretty much built an end-to-end beauty company that we can actually operate and become an even bigger business in the future, without compromising the scale that we get from the rest of Unilever’s engine. It’s exciting. The days are waiting.”
The Beauty and Wellbeing division will be led by Herman Dillon as Executive Director. Dhillon spearheaded the launch of his Dove Hair and his TRESemmé in India.
In recent years, she led a transformation of the skincare business, including a comprehensive refresh of brands such as Lakme.
Meanwhile, the personal care division includes skin cleansing, oral care, and deodorants. Brands like Lifebuoy and Close Up fall into this category.
The organization will be led by Executive Officer Kartik Chandrasekhar, currently Global Vice President and Head of Oral Care and Skin Cleansing. As Global Vice President of Lifebuoy, he led the brand to become the world’s number one hygiene brand.