HUL bets growing wealth will broaden spending avenues

The company sells over 50 brands in India across categories like detergents, foods and others

- Suneera Tandon

Fast-moving consumer goods maker Hindustan Unilever Ltd (HUL) recently unveiled its roadmap for the next couple of years, highlighting a significant shift in Indian consumer preferences. While HUL's core mass-market brands will remain a significant portion of its portfolio, the company anticipates a substantial shift in the coming years in several other categories that it projects will double or even quadruple in size, driven by India's rising GDP.

According to the company, that's because Indian consumers are increasingly seeking advanced formulations and convenient formats, leading them to transition from traditional soaps and detergent powders to body wash and liquid detergents.

More households are expected to move up the $8,500-40,000 annual income bracket by 2030 versus 2018, even as those with less than $4,000 annual income shrink dramatically by the end of the decade, HUL said in a presentation filed with the stock exchanges on its 'capital markets day' on Friday.

HUL sells more than 50 brands in India across detergents, foods, soaps, shampoo, toothpaste, cosmetics, and ice cream, among others. The company's products are priced from ₹1 and ₹10 shampoo sachets to ₹800 lipstick.