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MarketScreener Homepage  >  Equities  >  Johannesburg Stock Exchange  >  Clicks Group Limited    CLS   ZAE000134854

CLICKS GROUP LIMITED

(CLS)
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Unilever South Africa takes further steps after 'racist' TRESemmé advert

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09/11/2020 | 11:15pm EDT
TRESemme products, a Unilever Plc brand are seen on a shelf

The South African unit of Unilever will set up an advisory board and a diversity committee after apologising for a hair care advert which it admitted was "racist", the consumer group said on Friday.

The advert by its TRESemmé brand, was posted on drugstore Clicks Group's website last Friday, and described images of African black hair as "frizzy and dull," while a white woman's hair was referred to as "normal".

It caused an outcry on social media and sparked protests led by the opposition Economic Freedom Fighters (EFF) in a country where unfair treatment of black hair evokes painful memories of prejudice during apartheid.

The then-government used a "pencil test" to determine someone's racial identity: a pencil was inserted into a person's hair and if it did not fall, that person was considered not white.

"We were shocked to discover that we had supplied images for the Clicks website that portrayed black hair as inferior. This was racist and we apologise unreservedly," Unilever said in a statement.

The firm is reviewing all the marketing campaigns and images in its South Africa portfolio "to make sure they match our commitment to celebrate all beauty and promote diversity and inclusion."

It will also set up a new diversity and inclusion assets committee and an advisory board with internal and external experts to review how its hair care products in South Africa can offer consumers solutions, it said.

The household goods conglomerate behind the Omo, Sunlight and Domestos brands will also work with the new advisory board to develop programmes to deliver immediate support to black hair stylists and small professional salons.

Lastly, Unilever will review its mandatory diversity and inclusion training to accelerate its training on unconscious bias for all staff.

On Thursday, Unilever agreed to pull all its TRESemmé haircare products from South African retail stores for 10 days to show remorse after some retailers had begun removing the products.

(Reporting by Nqobile Dludla;Editing by Elaine Hardcastle)


Stocks mentioned in the article
ChangeLast1st jan.
CLICKS GROUP LIMITED -4.58% 243.1 End-of-day quote.-5.26%
DOW JONES AFRICA TITANS 50 INDEX 0.20% 481.01 Delayed Quote.-10.78%
DOW JONES SOUTH AFRICA(ZAR) 0.00% 1670.96 Delayed Quote.-6.66%
S&P AFRICA 40 INDEX 0.15% 158.77 Delayed Quote.-6.98%
UNILEVER N.V. 1.38% 51.3 Delayed Quote.-1.23%
UNILEVER PLC 0.93% 4689 Delayed Quote.6.79%
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Financials
Sales 2020 34 266 M 2 115 M 2 115 M
Net income 2020 1 798 M 111 M 111 M
Net cash 2020 2 567 M 158 M 158 M
P/E ratio 2020 34,0x
Yield 2020 1,97%
Capitalization 60 450 M 3 749 M 3 731 M
EV / Sales 2020 1,69x
EV / Sales 2021 1,56x
Nbr of Employees 15 413
Free-Float 86,8%
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Mean consensus HOLD
Number of Analysts 6
Average target price 258,33 ZAR
Last Close Price 243,10 ZAR
Spread / Highest target 12,7%
Spread / Average Target 6,27%
Spread / Lowest Target 2,43%
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Vikesh Ramsunder Chief Executive Officer & Executive Director
David Morris Nurek Independent Non-Executive Chairman
Michael Fleming Chief Financial Officer & Executive Director
Martin Rosen Independent Non-Executive Director
Fatima Abrahams Independent Non-Executive Director
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