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TwitterUnilever, the world’s second-biggest consumer goods company, plans to increase its business in China to as much as five times the current level, Asia chief Harish Manwani said.
“Our business has been growing steadily about 18 percent to 19 percent per annum,” said Manwani, president of Unilever’s Asia, Africa, and Eastern and Central Europe operations told Bloomberg TV in Jakarta at the World Economic Forum on East Asia. “Our commitment in China is to build a business four- or fivefold” what it is now, he said, without giving a target date.
The maker of Dove soap and Magnum ice cream has raised prices as costs for commodities such as crude oil gain. Unilever last month said it accepted a decision by Chinese authorities to fine it 2 million yuan (309,000) for telling media about plans to raise prices. The economy of the world’s most-populous nation may grow 9.5 percent this year, more than triple the U.S. pace, according to economist estimates compiled by Bloomberg.
More than 55 percent of Unilever’s business now comes from emerging markets, Manwani said. “Asia, emerging Asia, is a very important part of it. I’m very excited about business prospects in Asia.”
Unilever derived 40 percent of its 44.3 billion euros in revenue last year from Asia and Africa, according to data compiled by Bloomberg. The Americas contributed 33 percent and Europe 27 percent.
“Our business has been growing steadily about 18 percent to 19 percent per annum,” said Manwani, president of Unilever’s Asia, Africa, and Eastern and Central Europe operations told Bloomberg TV in Jakarta at the World Economic Forum on East Asia. “Our commitment in China is to build a business four- or fivefold” what it is now, he said, without giving a target date.
The maker of Dove soap and Magnum ice cream has raised prices as costs for commodities such as crude oil gain. Unilever last month said it accepted a decision by Chinese authorities to fine it 2 million yuan (309,000) for telling media about plans to raise prices. The economy of the world’s most-populous nation may grow 9.5 percent this year, more than triple the U.S. pace, according to economist estimates compiled by Bloomberg.
More than 55 percent of Unilever’s business now comes from emerging markets, Manwani said. “Asia, emerging Asia, is a very important part of it. I’m very excited about business prospects in Asia.”
Unilever derived 40 percent of its 44.3 billion euros in revenue last year from Asia and Africa, according to data compiled by Bloomberg. The Americas contributed 33 percent and Europe 27 percent.
