Unilever appoints new distributors

Unilever Caribbean Ltd (UCL) has approved the adoption of a new route-to-market structure, a strategy used to enhance product distribution channels through partnerships with third parties.

Unilever said the decision was approved by its board of directors on January 15.

In a notice to shareholders, Unilever said part of the decision includes the appointment of Smith Robertson and Company Ltd and MICON Marketing Ltd as national distributors in the beauty, personal care, home care and nutrition categories.

Both Smith Robertson and Company Ltd and MICON Marketing Ltd are marketing and distribution companies based in TT.

Smith and Robertson Company Ltd specialises in the distribution of pharmaceuticals and beauty care products while MICON Marketing Ltd focuses on the distribution of food, household, bakery and personal care items as well as non-alcoholic beverages, confectionery and tobacco.

For the nine months ending September 30, Unilever reported a profit of $19.3 million, a $1 million increase from $18.3 million in 2023.

The company also reported a three per cent increase in revenue for the same period, increasing to $173 million in 2024, compared to $168.1 million the year before.

Chairman Daniela Bucaro said the revenue growth was attributed to the beauty and personal care segment of the company.

Brands such as Dove, Degree, Vaseline and Axe contributed to the segment, growing from 50 to 55 per cent of the company’s total revenue.

"The ice cream segment also performed well as a result of a change in distributor. Meanwhile, reinvestment in brands in the home care segment continues to provide results," Bucaro said.