Hindustan Unilever expects beauty, personal care to drive growth

By

Maverick Martins

Published
Jun 9, 2023

Fast-moving consumer goods giant Hindustan Unilever Ltd expects the beauty and personal care categories to be the key growth drivers over the next five years.

The company sees huge growth potential in this lucrative category and plans to focus on premiumisation to make deeper inroads in the segment.

HUL has recorded a total turnover of Rs 58,124 crore for the financial year 2023, out of Rs 21,831 crore came from the beauty and personal care segment.

“Beauty is still a very nascent category in India, and if you just look at the number of skin products used by Indian consumers versus some other developing country like Thailand, it will give you an insight into how much more we can develop the beauty industry,” Sanjiv Mehta, managing director CEO of HUL told Businessline.

“India is going to develop, and everyone aspires for better products. And if India keeps growing, consumers will crave better products. So, we are today over-indexed on premiumisation compared to the market. That strategy remains unabated, as people who have more disposable income are relatively resistant to slowing down,” added Mehta.

Hindustan Unilever Limited is one of India’s largest consumer goods companies with a strong presence in the beauty and personal care segment.