HUL focuses on cosmetics and digitalisation
Rohit Jawa, CEO and managing director of Hindustan Unilever (HUL) emphasised how the beauty care market as a separate entity creates more value and the role of digital as a catalyst for the nation's growth.
25 Jan 2024 | By Aditya Ghosalkar
HUL’s CEO and MD, Rohit Jawa: The Indian beauty care market will grow exponentially
The personal care and beauty industry produces a staggering 120-billion units of packaging globally, according to a Towards Packaging report. The modern consumer seeks easily transportable, compact, convenient, and environmentally friendly products. The shift in consumer preferences towards green consumption has compelled manufacturers to adapt and align their practices with the new demands and tastes of environmentally conscious customers.
Effective in April, the new beauty branch of HUL to transpire. The objective is to yield more business than the personal care segment at a faster pace, given the beauty segment holds the potential to scale up individually.
India's consumer goods market largely relies on sales from millions of Kirana stores. Under the initiative 'Power to The Retailer', HUL has come up with a B2B app called 'Shikhar' to create personalised celebrity-endorsed videos promoting their unique offers and discounts.
Shikhar's platform integrates AI technology powered by our campaign collaborator, Gan.ai. This ensures the rapid creation of personalised videos while safeguarding against potential misuse.
Kedar Lele, executive director - customer development, HUL said, "Magic can happen when two different worlds, AI and traditional trade, converge. Our goal is to equip retailers with the power to stay competitive and streamline working capital, harmonising online and offline journeys for a seamless customer experience."
Jawa highlighted that the move by HUL is to create the focus and specialisation for different competitive sets. The move is spurred by a surge in competition in direct-to-consumer (D2C) brands.
Currently, HUL's beauty and personal care sector accounts for 37% of its total shares and also has an advantage over other HUL categories. Going by numbers, over the past two years, FMCG goods have reported growth by only 2% while personal care is up by 9%.
At the 188th Foundation Day Celebration by the Bombay Chamber of Commerce & Industry, Jawa urged Indian businesses to integrate societal and environmental considerations into their operations, making it a holistic approach to the company's sustainable growth.