New Delhi: Almost every industry is affected by the terrible recession in the country. it has also affected the soap companies in the country. Many soap companies have reduced their product prices by 30 per cent. According to AK newspaper, companies like Hindustan Unilever and Wipro have cut their soap prices like Lux, Lifeboy, Dove, Santoor by four to 30 per cent.
Hindustan Unilever has cut prices in the Lux and Lifeboy portfolios by between four and six per cent, while the price of Dove has been cut by 20 to 30 per cent. Wipro has also announced a cut in the price of Santoor. Wipro said the company has reduced the prices of several soaps due to reduction in raw material prices. Lifeboys and Lux are among the top selling soap brands in the country's Rs 20,960-crore toilet soap market.
Lifeboy is the best-selling soap in the country when it comes to home use. Soaps are the biggest category in the Personal Care section. According to HUL management, the performance of the personal care segment in the beauty and personal care segment has been stable. Sources said, the company has decided to reduce the prices due to declining demand and rising competition. According to analysts who monitor the company, the move comes after HUL's top management discussed the June 2019 quarter's business performance.
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