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Unilever Nigeria Stops Production, Sales Of Omo, Lux - Business - Nairaland

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Unilever Nigeria Reports Significant Revenue And Profit Growth In 2023 / Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites / Unilever Nigeria’s Market Exit To Affect OMO, Sunlight, Lux (2) (3) (4)

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Unilever Nigeria Stops Production, Sales Of Omo, Lux by Omihanifa: 9:32pm On Jan 19
Unilever Nigeria says it has stopped production and sales of home care and skin cleansing products — 10 months after the company announced plans to exit both markets.

The company disclosed this in its unaudited interim financial statements for the year ended December 31, 2023, published on the Nigerian Exchange Limited (NGX) on Wednesday.

On March 17, 2023, Unilever Nigeria revealed its intention to discontinue production of its homecare and skin-cleansing brands, which include Omo, Sunlight and Lux.

In a statement in the company’s earnings report, Unilever Nigeria said production and sales “ceased in December 2023”.

Unilever said the factory used to produce the home care and skin cleansing products has been leased out to a third party.

“Subsequent to the company’s exit from the Home Care and Skin Cleansing categories, the factory buildings have been leased to a third party for a duration of 10 years, with annual rental payments,” the company said.


Unilever Nigeria’s exit from the homecare and skin-cleansing markets leaves the company with just the foods, beauty and wellbeing, as well as personal care products.

Prior to Unilever Nigeria’s exit from both markets, the company reported a decline in revenue and an increase in losses.

Revenue fell by 45.1 percent year-on-year to N16,48 billion in 2023, from N23,92 billion grossed between January to December 2022.

Also, loss increased to N3.72 billion last year, compared to the previous year’s N1.49 billion.

https://www.thecable.ng/unilever-nigeria-stops-production-sales-of-omo-lux/amp

6 Likes 1 Share

Re: Unilever Nigeria Stops Production, Sales Of Omo, Lux by atiku4President(m): 9:34pm On Jan 19
Harsh economy will only grind the wheel of production to a halt

181 Likes 9 Shares

Re: Unilever Nigeria Stops Production, Sales Of Omo, Lux by RingRoadCartel(m): 10:02pm On Jan 19
According to FreeStuffsNG and his co-travellers, Nigeria will turn into Switzerland in a matter of days now. Food is cheap and the naira is stronger than ever at an all time low price of 1360/$

Dangote will sell us fuel at the price of #50/lt soon and a bag of rice will go back to the 8k it was selling for when Jonathan was intimidated out of office barely 9 years ago.

It's not even been up to a decade since nigerians decided to give the APC a chance, yet look at how much ruin our country is in. When some of us speak out, it will look as if we like it when bad things happen to our country, but that's very far from the truth! We only console ourselves with making mockery of APC supporters stupidity. We know all too well that whatever terrible consequence the APC government's incompetence brings to the table, we will all partake in it!

It just feels like yesterday, Buhari came in promising Eldorado. But upon seeing that it isn't as easy as Jonathan made it look, they decided to devise a means that will ensure that Nigerians don't give them the Ghadaffi treatment>>>> TRIBALISM. It worked so well, and ever since then, the APC has become invincible. No matter how low they sink this country, mark my words, they will always get away with it! At this point, someone has to step in or else...
Anyone waiting for a revolution is just wasting his time. All the APC has to do is pay Sam Larry and his thugs to infiltrate whatever protest or revolution and cause mayhem. Or if that doesn't work, give the revolution a tribal colouration and voila! people will throw their common sense out the window. God bless Nigeria.

441 Likes 57 Shares

Re: Unilever Nigeria Stops Production, Sales Of Omo, Lux by YeyeGbami: 10:02pm On Jan 19
Go hard or go home

13 Likes 4 Shares

Re: Unilever Nigeria Stops Production, Sales Of Omo, Lux by Beremx(f): 10:03pm On Jan 19
Omo still dey market? Can't remember the last time I saw the product in the market. They should have rebranded instead of stopping the production. Bringing back the blue color of the detergent would have been nostalgic

76 Likes 5 Shares

Re: Unilever Nigeria Stops Production, Sales Of Omo, Lux by Noblex2011(m): 10:03pm On Jan 19
Naija

2 Likes 4 Shares

Re: Unilever Nigeria Stops Production, Sales Of Omo, Lux by Noblex2011(m): 10:03pm On Jan 19
Okay
Re: Unilever Nigeria Stops Production, Sales Of Omo, Lux by christejames(m): 10:03pm On Jan 19
The great Tinubulation is upon us! shocked

126 Likes 8 Shares

Re: Unilever Nigeria Stops Production, Sales Of Omo, Lux by Niftish: 10:03pm On Jan 19
Products wey newer products don push go background.

57 Likes 6 Shares

Re: Unilever Nigeria Stops Production, Sales Of Omo, Lux by bestfriday(m): 10:03pm On Jan 19
Hhh
Re: Unilever Nigeria Stops Production, Sales Of Omo, Lux by Marvieduke(f): 10:03pm On Jan 19
I would just say there is competition in the market where new products are been introduced..... They should just tell us they want to rebrand with a new name.

34 Likes 3 Shares

Re: Unilever Nigeria Stops Production, Sales Of Omo, Lux by davit: 10:03pm On Jan 19
No wonder sunlight is no longer in the market.

36 Likes 2 Shares

Re: Unilever Nigeria Stops Production, Sales Of Omo, Lux by Metu2016: 10:04pm On Jan 19
Omo

1 Like 1 Share

Re: Unilever Nigeria Stops Production, Sales Of Omo, Lux by chigator2: 10:04pm On Jan 19
vv
Re: Unilever Nigeria Stops Production, Sales Of Omo, Lux by moyinoluwabun(m): 10:04pm On Jan 19
Oga ooo
Re: Unilever Nigeria Stops Production, Sales Of Omo, Lux by rayopt(m): 10:04pm On Jan 19
That is indeed a competitive market anyway and this is not a time to be slack. Watch how some people will think this has something to do with the current administration. Na normal Naija way sha.

14 Likes

Re: Unilever Nigeria Stops Production, Sales Of Omo, Lux by SmartPolician: 10:04pm On Jan 19
If you cannot stand the heat, get out of the kitchen.

14 Likes 1 Share

Re: Unilever Nigeria Stops Production, Sales Of Omo, Lux by Bahamas95(m): 10:04pm On Jan 19
Ah! I will miss sunlight, I love that detergent.

55 Likes 5 Shares

Re: Unilever Nigeria Stops Production, Sales Of Omo, Lux by Akwamkpuruamu: 10:04pm On Jan 19
Wahala....



Some zonebs will say, it's good for our economy. They won't reason loss of employment fir staff working there

39 Likes 1 Share

Re: Unilever Nigeria Stops Production, Sales Of Omo, Lux by Atolu01: 10:05pm On Jan 19
Production of Lux should not stop abeg.

19 Likes 2 Shares

Re: Unilever Nigeria Stops Production, Sales Of Omo, Lux by Mokason288(m): 10:05pm On Jan 19
angry
They should stop Abeggg

Who Dey use am ??

11 Likes 1 Share

Re: Unilever Nigeria Stops Production, Sales Of Omo, Lux by RainMoreDFARMS(f): 10:05pm On Jan 19
YeyeGbami:
Go hard or go home



°
I dey go my mama house

°
***RainMoreDays***

2 Likes 2 Shares

Re: Unilever Nigeria Stops Production, Sales Of Omo, Lux by CrownLands(m): 10:05pm On Jan 19
Chai! Some of the most popular products we grew up to see are going extinct in Nigeria.

Soon, we will be importing them from the UK.

Chai! Nigeria! We hail there!

30 Likes 2 Shares

Re: Unilever Nigeria Stops Production, Sales Of Omo, Lux by obioraeze(m): 10:05pm On Jan 19
Third party again ….. just like GKS this third party will over increase the price now and make other products go up too …….. they should kuku go completely, instead of the third party nonsense

Anyways check my signature for lands in abj and all west states with valid C OF O

4 Likes

Re: Unilever Nigeria Stops Production, Sales Of Omo, Lux by Chassy03: 10:05pm On Jan 19
He don cast

3 Likes

Re: Unilever Nigeria Stops Production, Sales Of Omo, Lux by AmazingELixir: 10:05pm On Jan 19
angry

As expected, Unilever Nigeria refused to invest in research and development, Lux and Omo produced locally hardly made any improvement unlike what we see in other countries where innovation drives sales.

Who uses those low quality products anymore when there are far better alternatives in other brands.

16 Likes 1 Share

Re: Unilever Nigeria Stops Production, Sales Of Omo, Lux by libertyfather(m): 10:05pm On Jan 19
lie lie....competitor don full market, some are even selling detergent with free bucket..u think say we no knw? you knw how many bar soap dey market

30 Likes 4 Shares

Re: Unilever Nigeria Stops Production, Sales Of Omo, Lux by Akwamkpuruamu: 10:06pm On Jan 19
RingRoadCartel:
According to FreeStuffsNG and his co-travellers, Nigeria will turn into Switzerland in a matter of days now. Food is cheap and the naira is stronger than ever at an all time low price of 1360/$

My brother, when u consider the reasoning of some people you share same country with, you become speechless...

57 Likes 7 Shares

Re: Unilever Nigeria Stops Production, Sales Of Omo, Lux by Omoapena(m): 10:07pm On Jan 19
No wonder I can't find sunlight in any supermarket..

10 Likes

Re: Unilever Nigeria Stops Production, Sales Of Omo, Lux by Yabsun(m): 10:07pm On Jan 19
Niftish:
Products wey newer products don push go background.
Is that your excuse to defend this government’s bad policies and their cluelessness?

27 Likes 3 Shares

Re: Unilever Nigeria Stops Production, Sales Of Omo, Lux by Indelibleage: 10:07pm On Jan 19
Other products are emerging. Sales dropped with the harsh economy and multiple taxation.

21 Likes 3 Shares

Re: Unilever Nigeria Stops Production, Sales Of Omo, Lux by gaby(m): 10:08pm On Jan 19
The journey longggg

1 Like 1 Share

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