Hindustan Unilever Limited (HUL) is pursuing an aggressive strategy to conquer India's changing consumer market:
-Acquired 90.5% share in luxury skincare brand Minimalist for ₹2,670 crore
-Taking a four-pronged strategy to develop its beauty and wellbeing business:
a)Expanding big brands such as Ponds and Lakme
b)Bringing more Unilever global brands to India
c)Using Unilever technology for the Indian consumer
d)Buying local brands in beauty and wellbeing
HUL also plans to enhance its premium portfolio share in beauty and wellbeing by 900 basis points. The acquisition of Minimalist supports HUL's strategy to reach premium demand spaces and serve affluent consumer groups.
This aggressive strategy reflects HUL's resolve to future-proof its portfolio and leverage India's expanding premium beauty market.
Source: Financial Express