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Unilever focuses on what it's got
Brand equity & strengthBrand models, architecture
Unilever plans to expand its presence in the higher-growth categories of health, beauty and hygiene, but CEO Alan Jope also says there are no plans to sell off its nutrition and ice cream businesses and it has “drawn a line” under attempts to acquire GSK Consumer Health.
Why it matters
Unilever has been much in the news of late, from criticism of its brand purpose approach to its recent reorganisation around five distinct business groups and speculation around a possible major acquisition. At an earnings call, Jope made clear that no significant disposals or acquisitions are being planned.
The multinational fast-moving-consumer-goods business will continue to spend around €7 billion a year in brand and marketing investment, with a significant chunk of that going behind the 13 €1 billion brands that together make up half its turnover.
Unilever’s €1 billion brands grew 6.4% last year, strengthening in terms of brand equity and brand power.
Unilever’s share-of-spend to share-of-market for these brands was above 100.
Key brand growth performances include: Dove (+8%), Hellmann's (+11%) Magnum (+9%), Ben & Jerry's (+9%). “These are not COVID bounce backs,” said Jope.
Innovation delivered over €1 billion incremental turnover in 2021, twice that of 2020.
Brand and marketing investment in 2022 will be higher in the priority markets of the US, India and China.
“Our brands are in very good shape. Our brand health is allowing us to lead on price” – Alan Jope, CEO, Unilever.