Unilever’s quarterly sales growth slows in India, China
A slowdown in India and China has slowed Unilever’s quarterly sales growth. These are two of the biggest emerging markets for Dove soap and Ben & Jerry’s ice cream. This subdued growth has been attributed to the impact of trade wars hitting consumption in China and irregular monsoons curbing rural spending in India.
“There have definitely been signs of slowing markets in India and China … In India, we are going from very high rates of market growth to growth rates in the midsingle digits of growth,” Unilever finance chief Graeme Pitkethly told reporters.
Hyperinflation in Argentina, another one of its significant emerging markets, has also led to a 4% drop in volumes. These developments are worrying for the company as emerging markets contribute 60% to the company’s overall sales.