Unilever Nigeria has announced that it will be exiting the home care and skin cleansing markets to reposition its business for sustained profitability.
This information was disclosed in a corporate disclosure issued by Unilever Nigeria on Monday.
The company pointed out that the changes made to its business model are aimed at accelerating growth and sustaining profitability while enhancing its ability to meet consumer needs.
Part of the statement read, “These changes will reposition the company to better meet the needs of consumers, shareholders, and employees.”
“Strengthening business operations with measures to digitize and simplify processes; and focusing more on business continuity measures that reduce exposure to devaluation and currency liquidity in our business model.”
“These changes will reposition the company to better meet the needs of consumers, shareholders, and employees. This will involve repurposing the portfolio by exiting the Home Care and Skin Cleansing categories to concentrate on higher growth opportunities, strengthening business operations with measures to digitize and simplify processes; and focusing more on business continuity measures that reduce exposure to devaluation and currency liquidity in our business model.”
The company also added that the exit of these two categories over 2023 will boost the vision to make Unilever Nigeria great, building on the impressive progress made in other key aspects of the business, and is envisaged to result in an overall improvement in profitability, growth, and a more sustainable Unilever Nigeria plc business.
