India: Procter & Gamble overtakes Nestle to become country’s third-largest FMCG player
FMCG giant Procter & Gamble (P&G) has moved ahead of Nestle to become the third-largest consumer goods player in India, according to a report in the Economic Times.
Having doubled its sales in the country in the last three years, P&G now only sits behind two other companies in revenue terms – HindustanUnilever and Amul.
A P&G spokesperson said: "In fiscal 2014, we generated robust sales growth across all entities through a strong innovation programmes across product categories and pricing for added consumer benefits. We continue to drive profitability in a competitive market environment with strong sales growth and productivity driven cost savings. In addition, our focus on end to end efficiencies resulted in positive cash flows from operations”.
P&G has three subsidiaries in India: Procter & Gamble Health & Hygiene, which markets feminine hygiene brand Whisper and Vicks anti-cold balm; Gillette India, which is a maker of razors and other shaving products; and Procter & Gamble Home Products, best known for its Ariel and Tide detergents.
Despite its strong revenue growth, P&G is still some way behind its two larger rivals: its revenues of Rs 9,274 crore ($1.51 billion) are more than three times less than the Rs 30,053 crore ($4.89 billion) turnover of Hindustan Unilever, and almost two times less than Amul’s revenue of over Rs 18,000 crore ($2.93 billion). However, Amul does not directly compete with P&G in any segment.
Source: Economic Times