Unilever expects emerging markets to account for 75% of sales by 2020, up from current 55%
August 19, 2011
– Unilever expects emerging markets to account for 75% of the consumer products company’s sales by 2020, up from 55% currently, while European and U.S. markets grow slowly, said CEO Paul Polman, Reuters reported Aug. 17.
World population growth will stem largely from emerging markets, where an additional two billion people will be born over the next 40 years, said Polman.
Unilever is growing in Asia, Africa, Latin America, Brazil, India, China and Turkey at a rate of 10%, compared with its overall growth of 4% to 6%.
The group exceeded forecasts with 7.1% underlying sales growth in the second quarter, after raising prices to counter inflated commodity costs.
Unilever invests around 100 million lira annually in Turkey, whose gross domestic product rose 11% in the first quarter. The company has plans to increase the Turkey’s responsibility to 36 from 12 countries, including North Africa, Middle East, Russia, Ukraine and Belarus.
The primary source of this article is Reuters, London, England, on August 17, 2011.