Unilever Nigeria Plc, one of Nigeria’s leading Fast-Moving Consumer Goods (FMCG) companies, has announced its exit from the home care and skin cleansing markets with the stoppage of OMO, Sunlight and Lux brands.
In a statement by the company, the decision to stop the production of the three products was informed by the need to enhance its profitability and growth in the consumer goods market in the country.
A week ago, the company announced that it was restructuring its business model to focus “more on business continuity measures that reduce exposure to devaluation and currency liquidity in our business model.”
In a follow up statement, Unilever indicated that offloading its home care and skin cleansing portfolios would enable the management to “concentrate on higher growth opportunities.
Speaking on the decision, the company’s Managing Director, Mr Carl Cruz, further clarified: “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”, Cruz added added
The industrialist explained that the company was repurposing its portfolio by gradually exiting two categories, home care and skin cleansing, affecting only three brands (OMO, Sunlight and Lux), as it remained better poised to drive the rest of its brand portfolio for growth.
