Unilever Aims To Beat 2022 Growth Target While Wrangling Consumer Recession Fears
Unilever’s confidence is unshaken, though “the threat of recession is starting to impact consumer confidence and change in spending patterns and behaviors,” Unilever CEO Alan Jope acknowledged in a 26 July presentation on fiscal 2022 first-half results.
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After five years with a minority interest in Nutrafol for “clinically proven hair growth,” Unilever will acquire a majority stake in the supplements brand under undisclosed terms. Nutrafol says its nutraceuticals for men and women – sold through multiple channels including by more than 3,000 physicians – target “the six root causes affecting hair health.”
Unilever PLC says pricing is critical to enabling it to continue investing in brands as input cost inflation for the firm in 2022 is expected to reach almost €5bn. The British company increased pricing 8% across its portfolio, which includes skin care brand Dove and vitamin brand Olly, helping drive total underlying sales growth of 7.3% in the first quarter.
Around 1,500 senior and junior management roles will be cut under Unilever’s announced plan to reshape its corporate matrix, the firm reports on 25 January. The news comes a day after reports that activist investor Nelson Peltz of Trian Fund Management has taken a stake in the business.