Comments
Fast-Moving Consumer Goods (FMCG) major Hindustan Unilever, GlaxoSmithKline Asia, and GlaxoSmithKline Consumer have mutually agreed to terminate the distribution agreement of Over-The-Counter (OTC) products.
The OTC products included Crocin, Eno, Iodex, Otrivin, Sensodyne.
Related Stories
FMCG sales stay flat in October, Western India drives sales growth
According to Bizom data, the FMCG sales grew by 0.5 per cent month-on-month while it dropped by -3.6 per cent year-on-year in OctoberHUL informed in the stock exchange filing that the termination will be in effect from November 8, 2023. The company in the filing stated the one year notice period for termination shall commence from November 9, 2022 as per the agreement.
“It was agreed that HUL will distribute select OTC and oral care brands of GSKAPL & GSKCPL in India. GSKAPL, GSKCPL and HUL (the companies) have now mutually agreed to discontinue this consignment selling arrangement. The companies will work together to ensure a smooth transition,” said a HUL spokesperson.
Related Stories
Tata Motors narrows loss to ₹944 crore in Q2
Tata Motors’ revenue up 30 per cent; JLR, too, posts strong performance
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.