"2017 was a very volatile year for our Indian business due to the highway ban and the introduction of GST. Consequently, our volumes declined by 2%," Carlsberg said in a statement adding that the decline was still less than the overall market.
It seems to be advantage Amazon at the moment with founder Kishore Biyani having met Jeff Bezos in the US two weeks ago to discuss a possible alliance.
India accounts for 2-9 per cent of global sales for most consumer multinationals and has been one of their last bastions for growth.
Nearly 40% of all branded products of daily use are sold in rural areas, home to about 800 million people whose purchasing behaviour depends on farm output
Nearly 40% of all branded products sales of daily use are in rural areas, home to about 800 million people whose purchasing behaviour depends on farm output.
The company’s sales growth, however, has slowed. For the quarter ended November, sales rose 20% to Rs 247 crore compared with over 50% increase during the preceding quarters.
H&M, the world’s second-largest clothing firm, had said it would open 50 stores in India with an investment of Rs 700 crore by 2020.
Like many large consumer goods companies, Colgate had struggled with sluggish volume growth and shifting consumer taste towards natural or herbal brands.
The industry executives cited said consumer demand picked up in the third quarter of the fiscal year, although that was also because of a lower base due to a demonetisation induced dip.
It would take a few more quarters to see market shares shift to branded products from unorganised sector, Sanjiv Mehta, managing director at HUL, said.
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