Business News of 2013-03-08

Unilever to launch luxurious products

Unilever has hinted it will soon release more luxurious products to their portfolio to align it to the income status of Ghanaian.

The Managing Director of Unilever West Africa, David Mureithi, told Citi Business News that as Ghana moves from one income status to another so does the lifestyle of its population hence the need to develop products to fit the new lifestyle of its consumers.

“We are adapting our portfolio of products to be suited for the middle-income consumer so you will see more and more launches of new products that align with the development of Ghana.”

David Mureithi said the company will soon open some new facilities in their factories by July this year. This he said was part of their infrastructural development plans they were rolling out for this year.

“We are investing heavily not only in our brands but also in our factories. Also we believe in supporting sustainable development-not just for us but for other Ghanaian businesses,” Mureithi added.

He expressed appreciation for the confidence that investors have had in the company’sleadership and management. Unilever Ghana last year recorded an 18% growth in profits. It continues to be one of the best performing stocks on the Ghana bourse with share price at GHS10.85 and a year-to-date appreciation of 27%.