New Delhi: Hindustan Unilever Ltd (HUL) has launched five new skincare products and one new toothpaste this month, apart from rejigging the prices of stock-keeping units of six products across its soaps, detergents, and coffee products, sources said.
The fast moving consumer goods (FMCG) company has launched five new products under its Vaseline brand--Vaseline Revitalizing Green Tea cream, Vaseline Calming Lavender cream, Vaseline Itch Relief cream, Vaseline Multipurpose Dry Skin Repair cream, and Vaseline Aloe gel--in August, trade sources said.
HUL has also launched three stock-keeping units of a new toothpaste--Close Up White Attraction. The new skincare products launched under the company’s Vaseline brand are part of its ongoing premiumisation strategy.
HUL, with brands such as Pond’s, Vaseline, and Fair & Lovely, has a market share of around 52.7% in the Indian skin cream segment. The Indian skin care market stood at $1.6 billion in 2017 and is projected to grow at a compound annual growth rate of 9% to reach $2.7 billion by 2023.
At the time of filing this report, HUL did not respond to queries on these price changes.
HUL has cut prices of one stock-keeping unit each of Dove, Lifebuoy, and Lux toilet soaps by up to 28.6%, sources said. Besides these, the company has cut prices of both its stock-keeping units of Rin detergent powder by up to 15.6%. These price reductions are primarily targetted at pushing volumes in the rural market amid consumption slowdown.
