Noel Wallace says that the company is expecting a recovery in the quarters going ahead
Expressing concern over the slowdown in urban markets in the Indian markets, Noel Wallace, the Chairman and Chief Executive Officer (CEO) of Colgate-Palmolive, has stated that the company is not pleased with is performance in India. However, the President noted that it is expecting a recovery in the quarters going ahead.
“We are not pleased really with the performance we had in India, but we feel good about where we are headed in the back half. We saw some sluggishness in the urban class of trade. We will certainly address that as we move into the back half through a very stepped-up innovation strategy, Wallace highlighted in an earnings call on a webcast.
Getting the urban markets right and executing more effectively there is critically important, he noted. Wallace added that the company is seeing healthy uptick on the ecommerce front in the country.
“We are seeing great growth for our ecommerce business there. We are up over 500 basis points in market share in ecommerce. So, as that trade class grows, we will see some tailwinds come from that. But overall, executing better in urban, keeping the rule and getting the core brands relaunched,” Wallace highlighted.
In Asia Pacific, the company noted that the volume decline was driven by continued weakness in its H&H joint venture in China, where category trends in traditional retail remain soft. In India, the slowdown in urban markets continued in the second quarter. The company is reintroducing Colgate Strong Teeth toothpaste in India.
“We feel we are well-positioned to deal with the year-to-date volatility in category growth and uncertainty in global markets. Guided by our strategic framework, including our focus on innovation and the strength of our global portfolio, our teams on the ground continue to execute with excellence and focus to achieve our 2025 financial targets,” Wallace said in a statement.
