Goodbye: Unilever Dumps Further Production Of “Omo”, “Lux” and” Sunlight”
LAGOS APRIL 1ST (NEWSRANGERS)-Multi-national consumer goods producer, Unilever, says it is dumping further production of popular household detergent, “Omo”, “Sunlight” and the equally popular “Lux” toilet soap.
The organization which made the disclosure recently, pointed out that the decision is sequel to exit the home care and skin cleansing market as part of its restructuring process to accelerate organizational growth and profitability.
According to the statement, the restructuring became imperative due to the overriding need to pay more attention to “…business continuity measures that reduce exposure to devaluation and currency liquidity in our business model.”
The multinational organization also disclosed that the decision to offload itsohme care and skin cleansing portfolios would enable the management to “concentrate on higher growth opportunities.”
“All companies need to adapt to changing market circumstances, and now is the right time for us to reposition Unilever Nigeria Plc to better meet the needs of our consumers, shareholders, and employees.
“We are a truly Nigerian business and the oldest serving manufacturer in the country. By making these changes, we will unleash the sustained and profitable growth we need to be here for the next 100 years as well,” Managing Director, Mr Carl Cruz, said.
Cruz added that the organization is repurposing its portfolio by gradually exiting the home care and skin cleansing, a move that will affect three brands-OMO, Sunlight and Lux.
The move, he further explained, will make Unilever better poised to drive the rest of its brand portfolio for growth into the future and strengthen business operations with measures to digitize and simplify processes.
In recent time, the Nigerian business climate has undergone turpsy-turvey times following the redesign of the Naira. The development made it difficult for Nigerians and several organisations to access requisite funds.
Fresh News TV
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Posted by News Rangers
on Apr 1 2023. Filed under Business, National.
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