FMCG major Hindustan Unilever, in its bid to offset high input costs, has hiked the price of its Lifebuoy soap by over 6 percent, while reducing the pack size of popular soap brand Lux.
Besides, it has also stopped the promotional offer for its Lux soap, under which a 110 gm soap was sold for Rs18 earlier. Now, HUL is selling Lux at Rs18 for a 100gm bar. Industry analysts attributed the price change to the rising commodity prices. As per data available, the price of crude palmoil, a key ingredient for making soaps, has touched Rs433 per kg in August as compared to Rs 391 per kg in June, marking an 11 percent rise. Looking at the current market situation, it seems that the brands are now taking bolder steps after the post-recession phase.
Source: www.economictimes.com
