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Tuesday, July 23, 2024

Unilever expects faster growth in PH on easing inflation

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Unilever Philippines expects to grow its business faster than the gross domestic product (GDP) in 2024, as inflation eases and people start to return to the buying of premium portfolio.

“We will continue to deliver high growth. Driving more people into the category, driving frequency of use and application, contributes to the overall growth of the company and it benefits the ecosystem. Our goal is to continue to be one of the highest growing countries for Unilever Global,” newly-appointed Unilever Philippines chief executive Fredy Ong said in a briefing Monday.

The company will navigate business growth by focusing on its core brands, driving brand superiority and scaling innovations to drive category growth and premiumization, he said.

“We recognize the opportunity for our business to grow competitively. In the Philippines, we will drive category growth, grow volumes and market share through ruthless focus on our strategy, powered by data and digital transformation,” Ong said.

He said sustainability, a core value across all product segments and in compliance to the government’s extender producer responsibility (EPR), is of paramount importance to the company.

The Philippines continues to be among the top ten markets for Unilever globally, with the Unilever Philippines business growing ahead of the country’s GDP. 

Emerging markets contribute to 58 percent of Unilever’s turnover globally.

Southeast Asia, including the Philippines, is a very important region for the company and a growth driver for Unilever.

Unilever Philippines stood out as a leading FMCG player by locally manufacturing over 90 percent of its products. 

Its commitment to local production has been bolstered by recent investments, including the 2016 expansion of their nutrition factory and the 2023 inauguration of a new beauty and wellbeing and personal care facility in Cavite.

These investments significantly increased production capacity, meeting the growing demand in the Philippines and export markets.

Unilever Philippines ranks among the top manufacturers for nutrition, beauty and wellbeing, personal care, ice cream and home care. 

It was recently recognized in the Advantage Group Survey, ranking them as the #1 FMCG supplier in 2023.  Unilever consistently held top positions in the survey since its inception in 2018.

Unilever Philippines set out a growth action plan in October 2023, focused on three priorities: delivering higher-quality growth, stepping up productivity and simplicity and adopting a strong performance focus.

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