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Projection Shows Indian Beauty Growing 18% 2011–2014
By: Priyanka Bhattacharya
Posted: August 31, 2011
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Manvinder Banga, former chairman of Hindustan Unilever, has been appointed as a non-executive director on the board of UK-based global retailer Marks and Spencer Group Plc. He joins the board in September. Banga spent 33 years at Unilever as the president of global foods, home and personal care businesses, and was also an executive member of the board.
According to Marks and Spencer (M&S) chairman Robert Swannell, Banga’s experience in personal care and retail will support M&S becoming an international multichannel retailer. Industry watchers also see this as a move to establish the M&S brand in India, where the company currently has a 51:49 joint venture with Reliance Retail. Even though M&S has been in India for the past nine years, operating approximately 20 stores across the country, the brand hasn’t been able to establish its presence as strongly as it was first envisioned.
Axe Deo; Other “Obscene” Ads Axed From TV
The advertising content control board in India, Advertising Standards Council of India (ASCI), is unhappy at the explicit content and sexual tone of the Axe deodorant commercial aired in summer 2011. ASCI sent notice to Hindustan Unilever, the company that owns the brand, to take the commercials off air, to which HUL agreed. Meanwhile, ASCI also sent similar notices to two other men’s deodorant brands, Set Wet Style and Zatak, because the TV spots were deemed to be “indecent” and “obscene.” ASCI undertook the action upon a directive from the Ministry of Information and Broadcasting after the ministry had received complaints from viewers.
Henkel Posts Profit After Takeover
Since its takeover by Jyothi Laboratories, Henkel India will, according to the company’s CEO, post a net profit by the end of September 2011. Jyothi Lab, which bought the money-losing Indian unit of Henkel AG, expects to save 10% of Henkel India’s revenue over the next year due to cost reduction measures and new business strategies. The company also plans to increase the product pricing by 5%. The beauty brand currently sold by Henkel India is Fa.
Jyothi nearly halved the manpower at Henkel from 450 to 250, and Jyothi has already identified a professional chief executive, and will hire new brand managers and category heads as part of the new management structure.