“We are not creating a strategy for recession now. As a business, we are ready for the demand to pick up and it is not that we are putting the shutters down,” said HUL chairman. “The slowdown has to first slow. Then you have to stop slowing down. And then you have to reverse. So, at this stage, it is difficult to predict whether we have reached the bottom or not.”
The Indian unit of Netflix Inc grew more than 700% during 2018-19, helped by expanding local content.
“It’s a volatile environment. We used to say, two steps forward and one step back. The third quarter indeed was one of these quarters that is one step back for Carlsberg when it posted flat volume growth. It was impacted by price and excise tax increase in a couple of states," Hart said at an investor call last week.
Amazon had sought CCI approval last month for its proposed Rs 1,500 crore deal to acquire 49% of Future Coupons through its investment arm, Amazon.com NV Investment Holdings LLC, which in turn will give them 3.5% stake in Future Retail, Biyani’s flagship company.
The local unit of Unilever will launch more than a dozen friendly personal care products under Love, Beauty and Planet brand, that are made from ethically and sustainably sourced ingredients with vegan-friendly formulations and packed in 100% recycled and recyclable bottles.
Liquor trade’s hangover from the slowdown is similar to FMCG failing to take a bigger bite out of consumer spend, again thanks to liquidity issues. Hindustan Unilever had last month said trade was facing an acute liquidity crunch. Analysts expect liquor sales to remain subdued for the rest of the fiscal.
Net profit at Twitter Communications India rose 108% to Rs 5.8 crore, according to company filings sourced from Veratech.
Over the past two-three years, P&G Home Products has been exiting unprofitable categories and product sizes, in line with its global strategy, that slowed down its revenue growth but led to much more profitable business.
Diwali was a crucial period since sales of most categories had been flat or had declined this year.
The maker of Absolut vodka and Chivas Regal scotch had gross sales of Rs 20,335 crore in the year-to-March 2019, latest filing sourced from Veratech showed. Pernod's growth numbers outpaced Diageo's Indian business that grew 10% in revenues.
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