Unilever Nigeria to Quit the Skin Care and Home Care Industries.

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Unilever Nigeria’s Fast Moving Consumer Goods division has announced that it will leave the skin care and home care industries in order to realign the company for long-term profitability.

This information was sent in a corporate notice to the Nigerian Exchange Ltd that was signed by Abidemi Ademola, the company secretary.

The business claimed that by altering its business strategy, it would be able to expand more quickly and better serve the interests of customers, shareholders, and staff.

“This will require repurposing the portfolio by quitting the home care and skin cleaning categories to focus on greater growth possibilities,” the statement said in part.

The business also stated that it expected its withdrawal from these two categories over 2023 to lead to an overall increase in profitability, growth, and a decrease in costs.

Punch

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