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Godrej Household Products (GHPL) today said Sara Lee Corporation has terminated its licence to sell Kiwi shoe care and Kiwi Kleen brands in India and Sri Lanka.
Sara Lee would pay Rs 177 crore to GHPL for terminating the licence, which comes into effect from April 3, the company said in a statement.
GHPL is a wholly-owned subsidiary of Godrej Consumer Products Ltd (GCPL).
“This agreement helps us to continue being more focussed on our core categories in line with our 3 by 3 strategy — presence in emerging markets in Asia, Africa and Latin America through three core categories — personal wash, hair care and home care. Shoe care is not a core business for us,” GCPL Chairman, Mr Adi Godrej, said.
“Over the last few years, our team has done a great job growing the Kiwi brands in India and Sri Lanka through a compelling product portfolio, specialised focus on the modern trade channel and a leadership position in Sri Lanka. We wish continued success for the brands,” GCPL Managing Director, Mr A. Mahendran, said.
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