IGB archive

Godrej Consumer sells its UK unit

India Global Business Staff

Mumbai-based Godrej Consumer Products has sold its UK unit to JZ International, a pan-European private investment business based in London. The divestment of Godrej Consumer Products UK is part of the company′s strategy to focus on emerging markets - Asia, Africa and Latin America. The company said it is in line with its long-term objective of optimising portfolio and making the relevant capital allocation choices. Nisaba Godrej, Executive Chairperson, GCPL, said in a statement, said: “We continue to make strong progress on our journey to be a leading FMCG player in emerging markets; guided by our '3 by 3 approach', and focused on three categories - home care, hair care and personal care in three geographies.” Godrej UK was its first international acquisition way back in 2005 and had a portfolio of brands such as Touch of Silver, Cuticura and Soft & Gentle. A decade ago, UK business accounted for nearly 15 per cent of its sales, which over the years has come down to 5 per cent last fiscal.

Tata Group’s take over of Air India puts the competition on alert

RBI says growth impulses strengthening, inflation trajectory favourable

Gadkari focuses on alternate fuels, EVs in clean transport push

India, UAE march towards Comprehensive Economic Partnership Agreement

India’s new Parliament on track to host 2022 Winter Session