Hindustan Unilever (HUL) expects beauty and personal care industries to be the main growth drivers till 2028, focusing more on premiumisation of products and services.
In FY 2023, HUL has seen a turnover of Rs 58,124 crore, of which Rs 21,831 crore was from personal care and beauty segments. According to Sanjiv Mehta, Managing Director and CEO of HUL, beauty is still in its initial stages in India and there is immense scope for growth as people want better products. Thus, they are over-indexed on premiumisation versus the market. People with a higher disposable income will always want better services and products and, hence, these segments are bound to grow.