As demand slowdown hurts, makers of Lux, Lifebuoy, Santoor soaps cut prices

In wake of weak demand and tough competition, FMGC major HUL slashed prices of Dove, Lux, and Lifebuoy soaps, financial daily Livemint reported. The move is aimed at winning over consumers and passing on the benefits of cheaper input costs. Wipro Consumer Care, the maker of Santoor soap, also cut the price of the soap to stay in the game. Earlier this year, Santoor became the first soap brand from an Indian FMCG company to touch annual sales of Rs 2,000 crore.

"HUL does selective and judicious price changes across its portfolio in the normal course of its business. Given that the commodity prices are expected to remain benign for a certain time period, we have taken price reductions in the range of 4 per cent to 6 per cent in Lux and Lifebuoy portfolio, while it may be higher on certain packs in order to pass on the benefits to the consumers", a company spokesperson said on Tuesday.

According to research by Euromonitor, Lifebuoy and Lux are among the highest-selling soap brands in India’s toilet soap market, which is worth Rs 20,960 crore.

SOURCE: https://www.business-standard.com/article/companies/as-demand-slowdown-hurts-lux-lifebuoy-santoor-soap-makers-cut-prices-119082800172_1.html