Blog: How would a US recession affect the BRIC markets?
Dean Best | 13 February 2008
Unilever’s Indian venture unveiled a set of robust numbers for 2007 today (13 February), amid much talk about how a downturn in the US could stunt growth in the world’s emerging markets.
There has been a lot of debate on whether markets like Brazil, Russia, India and China will continue to enjoy the rapid growth seen in recent years when the global economy is awaiting the impacts of recession in the US.
A key plank in Unilever’s growth strategy is expansion in emerging markets. Last week, Unilever boss Patrick Cescau said growth in 2008 may not match previous years but he remained upbeat.
"We expect the emerging markets to come a bit off their peak in 2008," he said. However, he added: "The economic fundamentals of those markets are good."
That view was echoed by Harish Manwani, president of Unilever's business in Asia and Africa, who said the company would continue to see strong demand in the region's developing markets. "Domestic demand is robust," Manwani said.
"People are converting into branded goods and uptrading because of money and you are still seeing people coming into the economy, even though there is price inflation."
US foodservice distributor Sysco has pulled the plug on its plan to buy local rival US Foods, four months after the country's competition watchdog moved to block the deal....
In an announcement that would have surprised few, Kraft Foods Group said today (1 July) its shareholders had thrown their weight behind the plans to combine the business with HJ Heinz. The market's at...
Whole Foods Market already had a reputation for being pricey. This will only be compounded by news that the retailer has been accused of routinely overcharging consumers by overstating the weight of p...
Dutch supermarket operator Ahold and Belgium-based retailer Delhaize Group announced today (24 June) that a long-awaited merger has been finalised in a move these two European retail giants hope will ...
- Focus: ConAgra own-label exit plan is about growth
- How the CGF plans to halve global food waste
- Focus: Will synergies lift Ahold Delhaize in US?
- IRI – The opportunity of range optimisation
- 10 Things to Learn - JBS's acquisition of Moy Park
- ConAgra confirms private-label exit
- Kraft Heinz unveils management structure
- Kellogg eyes trends with product launches
- CMA "accepts" Muller's revised Dairy Crest offer
- Kraft faces lawsuit over 'natural' claims