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HUL Raises Prices Of Soaps, Toothpaste, Skincare Products

September 12, 2013: 12:00 AM EST
Hindustan Unilever Ltd. increased the prices of soaps, toothpastes, and skincare products by as much as 13 percent in the previous two months, citing higher costs of raw materials due to the depreciation of the Indian rupee. HUL’s move is expected to cause other consumer packaged goods companies in India to also raise their prices. Other companies, such as Colgate-Palmolive, GlaxoSmithKline Consumer Healthcare and Reckitt Benckiser, have already increased prices in response to the 13.8 percent depreciation of the rupee against the dollar. Higher prices are expected to drive down sales, as consumers cut back on unnecessary expenses, market analysts say. For example, NestléIndia reported sales grew 8.9 percent; however, 8.2 percent was price-related and only 0.7 percent in terms of volume.
Sapna Agarwal , "HUL increases prices of soaps, toothpaste, skincare products", Livemint, September 12, 2013, © HT Media
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