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INDIAN BUSINESS LEADER AWARDS: THE LEADING COMPANY HUL WINS THE OUTSTANDING COMPANY OF THE YEAR AWARD

by Sai Shruti

Date & Time: Apr 04, 2022 11:00 PM

Read Time: 1 minute



HIGHLIGHTS-

• HUL receives an outstanding company of the year award.
• Three firms united to form Hindustan Lever, which was eventually called HUL.
• HUL has 14 brands with each having revenue of Rs 1,000 crore.

Hindustan Unilever Ltd (HUL) is the Indian subsidiary of the fast-moving consumer goods (FMCG) giant Unilever. It is unquestionably the country's largest FMCG firm, with a turnover of over Rs 45,000 crore. At a Business Leader Awards in Mumbai, Hindustan Unilever (HUL) has been named the outstanding company of the year. The company has a presence in nine out of ten Indian households, due to its large network of over 45,000 distributors and 50 brands.

HUL: Formation of the company

The first domestic subsidiary of Unilever, Hindustan Vanaspati Manufacturing Company, was established in 1931. From here the journey of Unilever began. It was followed by Lever Brothers India in 1933 and United Traders in 1935. In November 1956, these three firms united to form Hindustan Lever, which was eventually called HUL.

HUL: Journey of success

HUL has built up a huge portfolio of brands over the years, with names including Pond's, Brooke Bond, and Lakme joining the fold through acquisitions. GSK Consumer Healthcare, the parent company of brands including Horlicks and Boost, recently merged with HUL in 2020, making it the largest player in the food and refreshment category. HUL has 14 brands with each having revenue of Rs 1,000 crore.

According to the company's website, products including Brooke Bond tea and Surf Excel detergent surpassed the Rs 1,000-crore sales in 2007, while detergent brand Wheel surpassed the Rs 2,000-crore sales record in 2008.

HUL: Inroads into rural India

HUL made inroads into rural India with Project Shakti, which began in 2001 and targeted villages with populations of less than 5,000 individuals, allowing the company to establish a presence in about half of India's 6 lakh villages.

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