Tuesday, November 20, 2007

HLL ‘Lever’ ages the power of Hindustan

In tune with its global identity, FMCG giant Hindustan Lever Ltd. (HLL) has finally re-christened itself as Hindustan Unilever Ltd. (HUL) after getting the government nod. The name change episode can be traced back to December last year when rumours started floating around about its probable name change. In February this year, the name change got the board of directors’ approval which was followed by shareholders’ approval in May 2007. The new name asserts the equilibrium between the company’s heritage in the country and the desired global alignment with its corporate brand ‘Unilever’. After much deliberation, the name Hindustan was retained in the new name, keeping in mind that India plays a vital role in Unilever’s scheme of things. Hindustan has been integrated in the new name to authenticate its commitment to the country’s economy, people, partners, employees et al. The company has also released its new logo which is being publicised through massive campaigns. The new logo carries Unilever’s statement of ‘adding vitality to life’. It incorporates the ‘U’ of Unilever that comprises of 25 different vitality icons and has the name Hindustan Unilever Ltd. inscribed at the bottom. According to the company officials, the corporate name will enhance Unilever’s global scale operations which will in turn benefit the Indian business locally and globally. However the stock markets were not very gung-ho about the change as company’s stock dipped by 1.64% to reach Rs.189.20 after the company announced its new identity in the country.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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