HUL to license Lakme and Lever Ayush brands to Lakme Lever Private Limited
HUL to license 'Lakme' and 'Lever Ayush', brands to its subsidiary, Lakme Lever Private Limited, for the Beauty and Wellness services business.
Growing disposable income and changing lifestyles in urban India has led to greater awareness about personal grooming, health and wellness. The emerging trends, augur well, for Beauty and Wellness services sector, presenting a large and exciting opportunity. HUL currently operates in the Beauty and Wellness services segment, through a network of largely franchised Lakme Beauty Salons and Ayush Therapy Centers. However, as per current business model, these contribute to an insignificant proportion of the Company’s, turnover and profits.
The key learnings to achieve success are: a) single minded focus in creating and nurturing a ‘service’ mindset b) excellence in execution by specialized and dedicated teams, passionate about beauty and wellness services and c) a different business model, appropriate for a ‘services’ business.
The HUL Board of Directors took note of these facts and the learnings of the Company. The Board approved the licensing of the Lakme and Lever Ayush brands to the separate subsidiary company, Lakme Lever Private Limited, who will evaluate options towards developing a uniquely different, new business model for this opportunity, with singularity of purpose and dedicated focus. Consequently, HUL will not be directly engaged in the services business of Lakme salons and Ayush Therapy Centres.
About Hindustan Unilever Limited
HUL is India's largest Fast Moving Consumer Goods company, touching the lives of two out of three Indians. HUL’s mission is to “add vitality to life” through its presence in over 20 distinct categories in Home & Personal Care Products and Foods & Beverages. The company meets everyday needs for nutrition, hygiene, and personal care, with brands that help people feel good, look good and get more out of life.
Hindustan Unilever Limited
B. D. Sawant Marg,
Chakala, Andheri (E),
Mumbai - 400 099.