Unilever CEO eyes more opportunities in India

Unilever’s newly-appointed CEO Fernando Fernandez has voiced optimism about the Indian market, believing in its long-term growth potential despite quarterly revenue shortfall.

In an interview with Barclays earlier this month, Fernandez highlighted the brand’s long-term prospects in India, despite the country’s substantial food inflation.

He says India is unique since richer and poorer Indians dwell close together, resulting in a demand and supply of labour. That made quick commerce a logical channel to grow.

“Our position in India is exceptional. We have great brands; we have a great portfolio,” he said.

“The economic environment in India will get better in the second half of the year. There are significant changes in the channels in India. The rise of affluent India is very important. There are 60 million households of the 320 million households in India. They have serious money now.”

According to Unilever’s financial results for the fourth quarter and full year 2024, India rose 1.8 percent, with underlying volume growth of 2.4 percent. Home care and beauty and well-being were the primary drivers, while personal care declined.