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Business News

PZ Cussons relaunches soap brand in desperate bid to re-capture market

PZ Cussons Nigeria Plc has rebranded its Premier Soap brand through the launch of two new variants that are expected to interest consumers.

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PZ Cussons Nigeria Plc Full-year 2019. PZ Cussons’ revenue declines by 0.55%  
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PZ Cussons Nigeria Plc has rebranded its Premier Soap brand through the launch of two new variants that are expected to interest consumers. Information gleaned from the company’s social media platforms indicate that the new variants are called – Premier Cool Ultimate Deo Soap, Premier Cool Sports, and Premier Cool Odour Defence.

Each variant is said to possess unique qualities and come in different packs and sizes. More so, the new variants are much more “cooler” than the original, possess antibacterial properties, and can supposedly guarantee 25 hours of protection upon usage. Simply put, the company wants Nigerians to know that “the transition from cool to chill is complete.”

[READ: Renmoney’s CEO Boshoro quits, as Chairman steps down]

Coping with competition: Reacting to the re-branding which happened over the weekend, PZ Cussons Nigeria’s Group Brand Activation Officer, Charity Ilevbare-Adeniji, expressed her delight. She also noted that the rebranding process was borne out of the necessity to keep up with the competition whilst offering greater value to the customers.

“We listened to the consumers, we knew what we wanted to change, how we wanted to change it, we knew what competition was offering, we knew we couldn’t just offer soap to the consumers, we knew we needed to offer much more than soap, we needed to offer confidence, lifestyle and everything that goes with it…”

Events before now: The development is coming barely weeks after the company’s UK-based parent company hinted at plans to trim down on its Nigerian operations due to poor performance. The company’s overall global profit had declined by 37.5% to £37 million, down from £59.2 million.

The profit decline followed a series of warnings issued by the company to its stakeholders concerning its financials. As Nairametrics reported in December, PZ Cussons UK complained that the unfavourable economic situation in Nigeria was hampering the company’s overall growth potential.

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By early 2019, the company once again warned that its financial performance for the full-year 2019 period (which ended in May) will not be very profitable. Again, the unfavourable projection was blamed on the performance of its Nigerian subsidiary which manufactures and distributes a long list of consumer goods such as Imperial Leather Soop, Robb, Carex, etc.

PZ Cussons Nigeria’s soap brands are trying to compete in a saturated market segment where the likes of Irish Spring and Delta Soap are dominating. It is expected that the rebranding will help endear Premier Cool to many young Nigerians who may very well know very little about the product.

Product Review: Irish Spring is thriving in a soap market dominated by economy prices

The company’s stock closed trading at N6.00 earlier today during the trading session on the Nigerian Stock Exchange.

Stanbic 728 x 90

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Emmanuel is a professional writer and business journalist, with interests covering Banking & Finance, Mergers and Acquisitions, Corporate Profiles, Brand Communication, Fintech, and MSMEs.He initially joined Nairametrics as an all-round Business Analyst, but later began focusing on and covering the financial services sector. He has also held various leadership roles, including Senior Editor, QAQC Lead, and Deputy Managing Editor.Emmanuel holds an M.Sc in International Relations from the University of Ibadan, graduating with Distinction. He also graduated with a Second Class Honours (Upper Division) from the Department of Philosophy & Logic, University of Ibadan.If you have a scoop for him, you may contact him via his email- [email protected] You may also contact him through various social media platforms, preferably LinkedIn and Twitter.

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Business

Hyundai and Kia to set up an assembly plants in Ghana by 2022

The automobile giants will join Toyota-Suzuki, Nissan, Kantanka, Volkswagen, and Sinotruck who already have plants in Ghana.

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Hyundai to invest $87 billion into producing 44 new electric vehicles, Hyundai partners Kia to invest €100m in electric vehicles 
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Few weeks after Twitter announced its plans to open its first African office in Ghana, Hyundai and Kia have also concluded plans to set up an assembly plants in Ghana by 2022. The automobile giants will join Toyota-Suzuki, Nissan, Kantanka, Volkswagen, and Sinotruck who already have plants.

Ghana’s Minister for Trade and Industry, Alan Kyerematen announced this on Twitter.

READ: This is the New Tarrif Structure For Importing Tokunbo & Brand New Cars

Pleased to announce that Hyundai & KIA are set to establish assembly plants in Ghana by the end of 2022 to join Toyota-Suzuki, Nissan, Kantanka, Volkswagen & Sinotruck. The Ghana Auto Development program = 3,600 assemblies & 6,600 manufacturing parts jobs in Ghana.

The local assembly of vehicles, 3,600 direct and indirect jobs would be created in Ghana, and the addition of components and parts manufacturing will also add about 6,600 direct and indirect jobs.”

READ: Toyota snubs Nigeria as it moves to establish assembly plants in Ghana, Ivory Coast 

Why this matters

More foreign companies are shunning Nigeria in favour of Ghana. Recently, Nairametrics reported that Amazon is set to situate its African Headquarters in South Africa, a multi-billion dollar investment that is projected to create over 20,000 jobs both directly and indirectly.

Following its move to Ghana, Twitter CEO, Jack Dorsey cited a number of human rights-related reasons for the choice of Ghana over Nigeria. Added to this are rising insecurity, stifling government regulations and the gapping infrastructural deficit bedevilling Nigeria. Consequently, our nation is steadily losing opportunities to attract foreign companies that could be very instrumental in bridging its unemployment gap which is currently over 30%.

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Passports: Backlog of undelievered passports to be fixed before May 31st – Minister

The government also announced the launch of a new passport application system, which would be aided by fast track services nationwide.

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The Federal Government disclosed that all backlogs of undelivered passport requests would be fixed before May 31st, and announced the launch of a new passport application system, which would be aided by fast track services nationwide.

This was disclosed by Minister of Interior, Rauf Aregbesola, in a press briefing with newsmen on Thursday.

What the Minister said

“On or before May 31st, all backlogs of undelivered requests for passports will be totally met, unless such applications have a problem,” he said.

“But before the deadline, the problematic application would be contacted, so that we know what’s wrong with the applications. Assuming there would be no problem, every successful application for a passport would be given a passport on or before May 31st,” he added.

READ: Canada invites 3,900 new PR candidates, introduces new programme to attract Nigerians

The new passport process

The Minister disclosed that the FG will launch a new passport application process which would come into effect soon.

“When you finish your application process, there would be a waiting period of six weeks to collect your passport, however, if you want an express service, there would be fast track centres nationwide, to meet requests for express passport users,” he said.

What you should know 

  • Recall Nairametrics reported last month that the Federal Government inaugurated the Nigeria Immigration Service Passport Express Centre, which is a partnership with the private sector to enable the government offer passport services to Nigerians and make passports available in a maximum of 72 hours of a successful application.
  • The FG also launched the Electronic Temporary Passport to cater for Nigerians desirous of returning home but whose national passport is not available.

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