HUL drops prices of some product portfolios by 6 percent

By

Maverick Martins

Published
Aug 28, 2019

FMCG major Hindustan Unilever (HUL) has dropped prices across its product portfolios in the beauty and personal care segment by four to six percent.
 

The company has been witnessing drop in sales due to the economic slowdown which is why it is looking to boost sales of its products by slashing prices.
 
Hindustan Unilever had reported a net profit at Rs 1,755 crore ($254.1 million) for the April-June period with revenue of Rs 10,114 crore with steady performance by its beauty and personal care products.

Personal wash had reported muted delivery in the popular segment resulting in the company’s lowest volume growth in the last seven quarters. To revive sales, the company has decided to specifically slash prices of its popular brands Lux and Lifebuoy.
 
“HUL does selective and judicious price changes across its portfolio in the normal course of its business. Given that the commodity prices are expected to remain benign for certain time period, we have taken price reductions in the range of 4-6 percent in Lux and Lifebuoy portfolio while it may be higher on certain packs in order to pass on the benefits to the consumers,” a company spokesperson told the BusinessLine.
 
Hindustan Unilever is the country’s largest consumer goods company and is expecting stable demand for the financial year 2020 due to the recent initiatives taken by the government.