Unilever Says Exit From Home Care & Cleansing Markets Will Only Affect 3 Brands
Posted on March 29, 2023
One of the leading Fast-Moving Consumer Goods companies, Unilever Nigeria Plc, has disclosed that its exit from the home care and skin cleansing markets would only affect three brands.
In a statement, the firm stated that the brands were Omo, Sunlight, and Lux, noting that the decision to stop the production of these products was to accelerate the growth of the organisation and sustain profitability.
Last week, Unilever Nigeria announced that it was restructuring its business model to focus “more on business continuity measures that reduce exposure to devaluation and currency liquidity in our business model”.
Recall that the business environment in Nigeria has been very tough, and this year many organisations and Nigerians has found it difficult to access cash because of a Naira redesign policy of the Central Bank of Nigeria (CBN).
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