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Unilever Nigeria Announces Exit of Home Care and Skin Cleansing Markets by End of the Year

Unilever claimed that by altering its business strategy, it would be able to expand more quickly and better serve the interests of customers, shareholders, and staff. The company also stated that it anticipated that its withdrawal from these two categories over 2023 will lead to an overall increase in profitability, business growth, and sustainability. Nigeria’s beauty and personal care industry is anticipated to generate $7.87 billion in sales in 2023, according to Statista, a German company that does market research. Through 2027, this market sector is anticipated to rise by 16% annually. 

SOURCE: BUSINESS INSIDER