Mumbai: Hindustan Unilever Limited (HUL) brands are transforming to serve the India of tomorrow. Speaking at the 89th annual general meeting recently, the company’s chairman Nitin Paranjpe said that the India growth journey, which began prior to the pandemic, continues to be strong. He mentioned that India needs growth that is not just transformative, but also inclusive - growth that is both productivity and employment led. Drawing attention to the paradoxical and fast changing world we live in, he highlighted the urgency for businesses to take the lead in addressing the environmental and societal challenges that the world faces.
In his speech titled ‘Serving India, Today and Tomorrow’, Paranjpe said "HUL has been an integral part of India’s growth story over the years and has always believed that what is good for India is good for the company."
He shared a glimpse of the company’s future-fit strategy. "Our belief that purpose-driven brands and business can indeed deliver sustainable growth and it has been further strengthened over the years."
He also mentioned that the company crossed the Rs 50,000 crore turnover mark and over the last decade, HUL has more than doubled its turnover, tripled the Ebitda and quadrupled the market cap.
Paranjpe said, “At HUL, we are embedding sustainability across the value chain and beyond through what we call the ‘Compass’; our strategy to make sustainable living commonplace. We believe that 'Compass' will help us deliver superior performance and drive sustainable and responsible growth. We are building technology muscle to serve our customers and consumers even better. We are determined to showcase that there can never be a trade-off between purpose and performance.”
HUL has the power to impact the lives of consumers
Paranjpe highlighted that HUL is working towards building brands with a purpose. With more than 9 out of 10 Indian households using one or more of HUL brands. He said “HUL has the power to impact the lives of consumers. The company’s brands strive to bring about positive social change and break barriers to help build a more inclusive society through thoughtful marketing campaigns. Through several initiatives, the company has been addressing challenges like water scarcity, livelihood opportunities, employability, health and sanitation among others.”
Moving towards a phygital journey
As the world changes and moves towards digitalization, brands need to be present everywhere and communicate consistently to stay top of mind. On this, he said, "with an increased adoption of digital, the shopper journey has now become phygital."
He added that in a nation of paradoxes, critical to unlocking value is deaveraging – we need to win in rural and in urban, in mass as well as in premium, in traditional and on digital.
HUL's growth drivers
He feels that the road ahead holds both challenges and opportunities. "In order to overcome the challenges and realise the enormous opportunities that exist, it is imperative to ensure that the next phase of growth for the nation is both sustainable and equitable. Businesses can play a key role in this transformative journey," he concluded.
