Co goes for 2.5% price hike on skin cleansing products

MUMBAI: FMCG major Hindustan Unilever Ltd (HUL) is raising prices of its skin cleansing products by 2.5 per cent, to ward off inflationar y pressures, said a senior company offi ci al.

This would be the second price hike by the company in the cleansing products af ter it had increased 2.5 per cent in the December 2020 quarter, said HUL Chief Financial Officer Srinivas Phatak.

"In skin cleansing, the company took a price hike of 2.5 per cent in the December quarter. We are putting in another 2.5 per cent (hike) of pricing as we speak into the market in cleansing," said Phatak. HUL is a market leader in the skin cleansing products and has popular brands such as Lux and Lifebuoy in the segment.

The company is seeing significant inflation into the select categories as skin cleaning and tea.

Phatak, who is moving to Unilever's headquarters in London as executive vice-president (financial control and risk management), said the cost impact was around 7-9 per cent.