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Each HLL mega brand can generate Rs 1,000 cr biz: Banga
Mumbai, June 13: Consumer goods major Hindustan Lever Ltd said on Friday that each of its mega brand is capable of generating a sale of Rs 1,000 crore in the forseeable future.
Reviewing the performance of business strategy, drawn two years ago, and future plans, Banga said there was enormous room for growth of power brands and that could be done by leveraging the scale, redefining categories and adopting technological innovation.
The company was clear leader in the laundry soap segment as well as personal wash segment with double digit growth in the market marked by low price competition, he said.
"We will compete with low price competitors by playing to our strengths -- using our strongest brands backed by superior technology and the lowest cost supply chain", Banga said adding the company would leverage its unique combination of local and global scale."
On the brand extention, he said extensions like Lifebuoy talc have had "a promising start and there are more to come."
This would be supported through continued investment in technology, both to make better products and secure cost advantage, he added.
Banga said HLL's own technology capability (about 200 R&D people), coupled with Unilever technology network of over 5000 R&D personnel and a budget of $1.3 billion, gave the company the strength to compete in the market place.
Bureau Report