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Unilever China confident of fivefold growth by 2020
By Ding Yining |
April 28, 2012, Saturday
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Online Edition
Online Edition
UNILEVER said it's "on the right track" to deliver a fivefold growth in its business in China by 2020 and is confident of achieving a 50 percent faster growth than the industry average, a senior official said over the weekend.
The British-Dutch multinational is the world's third largest consumer goods company measured by 2011 revenues.
"We're confident to deliver an average of around 15 percent growth over the next few years and China is already a top 10 market in terms of sales in the global network of Unilever," said Alan Jope, president for Unilever North Asia.
Unilever said two years ago that its aimed to raise its annual sales in China to 50 billion yuan (US$7.9 billion) by 2020. Jope said their business growth will mostly come from existing brands and products.
"The amount of investment in Unilever's brands and talent in China is twice the size at the global level," Jope said.
Unilever today put a 180-million-yuan (US$29 million) toothpaste plant into operation in Hefei, capital of Anhui Province, making its industrial park in Hefei the biggest Unilever manufacturing facility worldwide.
Jope said the company will continue to apply cost-saving measures in its factories across China and work on a product portfolio with higher profit margin.
"We'll not introduce a price hike in the near future and a price increase for us is the last resort to deal with the cost pressure," he said when asked about how to deal with rising material costs.
Currently, personal care products contribute two thirds of Unilever China's revenue while food products make up the rest. At the global level, the two categories each made up around 50 percent.
The British-Dutch multinational is the world's third largest consumer goods company measured by 2011 revenues.
"We're confident to deliver an average of around 15 percent growth over the next few years and China is already a top 10 market in terms of sales in the global network of Unilever," said Alan Jope, president for Unilever North Asia.
Unilever said two years ago that its aimed to raise its annual sales in China to 50 billion yuan (US$7.9 billion) by 2020. Jope said their business growth will mostly come from existing brands and products.
"The amount of investment in Unilever's brands and talent in China is twice the size at the global level," Jope said.
Unilever today put a 180-million-yuan (US$29 million) toothpaste plant into operation in Hefei, capital of Anhui Province, making its industrial park in Hefei the biggest Unilever manufacturing facility worldwide.
Jope said the company will continue to apply cost-saving measures in its factories across China and work on a product portfolio with higher profit margin.
"We'll not introduce a price hike in the near future and a price increase for us is the last resort to deal with the cost pressure," he said when asked about how to deal with rising material costs.
Currently, personal care products contribute two thirds of Unilever China's revenue while food products make up the rest. At the global level, the two categories each made up around 50 percent.
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