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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Unilever PLC    ULVR   GB00B10RZP78

UNILEVER PLC

(ULVR)
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Real-time Estimate Quote. Real-time Estimate CHI-X - 10/27 12:30:00 pm
4698 GBX   +1.12%
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Unilever South Africa takes further steps after 'racist' TRESemmé advert

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09/11/2020 | 02:40pm EDT

JOHANNESBURG, Sept 11 (Reuters) - 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 0.21% 481.08 Delayed Quote.-10.78%
DOW JONES SOUTH AFRICA(ZAR) -0.01% 1670.98 Delayed Quote.-6.66%
S&P AFRICA 40 INDEX 0.15% 158.79 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 50 793 M 59 871 M 59 871 M
Net income 2020 5 914 M 6 970 M 6 970 M
Net Debt 2020 22 511 M 26 534 M 26 534 M
P/E ratio 2020 23,0x
Yield 2020 3,15%
Capitalization 135 B 159 B 159 B
EV / Sales 2020 3,09x
EV / Sales 2021 3,03x
Nbr of Employees 149 867
Free-Float 55,7%
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Technical analysis trends UNILEVER PLC
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Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 54,12 €
Last Close Price 51,30 €
Spread / Highest target 22,8%
Spread / Average Target 5,49%
Spread / Lowest Target -22,0%
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Managers
NameTitle
Alan Jope Chief Executive Officer & Executive Director
Nils Smedegaard Andersen Chairman
Nitin Paranjpe Chief Operating Officer
Graeme David Pitkethly Chief Financial Officer & Executive Director
Richard Slater Chief Research & Development Officer
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