I mean, the consumption class has to in some ways, you know, really grow. I'm deeply optimistic about India. I'm deeply optimistic that a lot of the future innovation will come from India. I have my eyes out for that," Narasimhan said at a virtual session on fast moving consumer goods makers organized by industry body Confederation of Indian Industry CII.
Reckitt, that sells the popular Dettol soap and Lysol cleaning products, has significantly benefited as the pandemic raged across the world. Its hygiene products have quickly moved off supermarket shelves helping the company report strong third-quarter earnings that topped estimates. Closer home, Dettol became the number one selling soap brand in India by value share, riding on the increased demand for personal hygiene products in the country, the company said in July when it announced its half-yearly and second quarter results.
Its toilet cleaning brand Harpic too increased its reach in the market in the aftermath of the pandemic. Narasimhan pointed that going forward three consumer trends are likely to find more permanence the world over. These include a more digitized world, re-imagined consumer experiences and conscious consumption. Agencies Laxman Narasimhan has been a member of the PepsiCo executive committee for the last four years reporting to the Chairman and Chief Executive. Narasimhan, the second Indian to take up the top job at the British healthcare giant after Kapoor, joins RB from beverages and snacks maker PepsiCo , where he is currently global chief commercial officer responsible for the US giant's long-term growth strategy.
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Acquired through this transaction were a number of major brands, including Woolite fabric care products, Wizard air fresheners, Easy-Off oven cleaners, and Old English polishers. Under his leadership, the company completed a second key U.
The company was now the fourth largest household products company in both the United States and the world. To help fund this growth initiative, the company announced that it would sell its U. Alan J.
Dalby was named chairman in September By , 80 percent of revenues were generated by household products, a significant increase from the 50 percent figure of ten years earlier. With the acquisition of four brands from S. Pretax profits fell by 25 percent in and the company's stock began sinking.
With shareholder pressure increasing, Sankey resigned as chief executive in February , with Michael Turrell, who had been global operations director, taking over on an acting basis. The company had an impressive portfolio of household product brands but appeared to suffer from poor management. The company turned to a merger with Benckiser N. Johann Adam Benckiser founded Benckiser in as a manufacturer of industrial chemicals based in Ludwigshafen, near Frankfurt, Germany.
For the remainder of the 19th century and more than half of the 20th century, Joh. Benckiser G. The firm began diversifying into consumer goods and industrial cleaning products in , the same year it launched Calgon water softener. In Calgonit automatic dishwashing detergent was introduced, followed two years later by Quanto fabric softener. By the s, Albert Reimann, great-great-grandson of the company founder, had selected Martin Gruber, a loyal company veteran, to head Benckiser.
The company had remained an independent family-owned firm, and Gruber told Reimann that he would do his best to see that it remained so. With the chemical industry dominated by huge multinationals, such as Pfizer and Hoffmann-La Roche, however, Benckiser was having difficulty competing and appeared destined to slowly slide downhill. The entrance of Peter Harf into the picture started a dramatic transformation.
Harf was a management consultant with a business degree from Harvard University. From the early s through the early s Harf completed 26 acquisitions. Among the first was the St. See Closing Diaries table for 4 p. Sources: FactSet, Dow Jones. Change value during the period between open outcry settle and the commencement of the next day's trading is calculated as the difference between the last trade and the prior day's settle.
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