To take on the new, digital-first companies that are taking the industry by storm, Hindustan Unilever is splitting its beauty and personal care range. The business, now split into two, will have one arm focusing on beauty and wellbeing and another that will focus on personal care.
India’s beauty and personal care market is skyrocketing. The growth in the industries has been significant in that few years and new players have been establishing themselves with much ease than ever before. New-age brands that are digital first have been able to win over modern-age shoppers with ease of access, new offerings, and lucrative discounts. The shift in the status quo has forced the established brands to take note and change with the changing environment.
In view of the same, Hindustan Unilever has bifurcated its beauty and personal care division into two separate businesses. One being beauty and wellbeing (B&W) and another being personal care (PC). The structuring is inspired by and a mirror image of the structure at the parent company, Unilever. The said transition of splitting into B&W and PC will take effect from the next financial year, i.e. starting April 1, 2024.
In FY23, HUL’s beauty and personal care division reported revenue of Rs21,831 crore, thereby contributing 37% of HUL’s revenue. HUL has brands like Lifebuoy, Lux, Sunsilk, Clinic Plus, Dove, Lakmé, Pond’s, and Closeup under its umbrella.
New Management Structure at Hindustan Unilever
To cater to this step, Hindustan Unilever has also brought in changes to its management structuring. The divisions will be held by two separate executive directors. The B&W business will be headed by Harman Dhillon. On the other hand, PC will be headed by Kartik Chandrasekhar. Both directors will be joining the company’s management committee starting April 1, 2024. Madhusudhan Rao who was heading the B&W and PC as of now as Executive Director will retire soon as per the company.
Dhillon joined HUL in 2006 and at present, leads India Skincare at HUL. She has also led TRESemmé business as global brand director, based out of London. Furthermore, at present Chandrashekhar is the global VP and head of oral care & skin cleansing for D&E markets.
From the Leadership Desk
Rohit Jawa, CEO and MD, HUL, said, “HUL has a track record of strong performance. As we embark on our next phase of growth and transformation, we will combine our scale and discipline with innovation and agility to serve our consumers even better and build a future-fit business. BPC continues to be a source of value creation for us. However, the business model, innovation rhythm and competitive landscape for both B&W and PC are diverging. The transition will allow us to bring more focus, and leverage our strong portfolio in both businesses. I am glad to have seasoned business leaders like Harman and Kartik to lead B&W and PC, respectively.”
Image courtesy: Hindustan Unilever
Courtesy Link: – https://timesofindia.indiatimes.com/business/india-business/hindustan-unilever-splits-beauty-and-personal-care-division/articleshow/105669836.cms?from=mdr