In order to reposition its business for long-term profitability, Unilever Nigeria's Fast Moving Consumer Goods unit has announced that it will withdraw from the skin care and home care markets. This information was provided in a corporate communication to the Nigerian Exchange Limited that was signed by Abidemi Ademola, the company secretary. In order to improve how well it serves the needs of customers, shareholders, and employees, the company claimed that it was changing its business model. The company added that its exit of these two categories over 2023 was envisaged to result in the overall improvement in profitability, growth and a more sustainable business.
Part of the statement read, “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 digitise and simplify processes; and focusing more on business continuity measures that reduce exposure to devaluation and currency liquidity in our business model.”
