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Government has agreed to Niveas decision to do wholesale trading of diverse Consumer goods products in the skin care, personal care and cosmetic segments,reports Shubhreet Oberoi in New Delhi. The company Nivea intends to extend Its range of products in the country and not delimiting itself to a few products such as Creams, deodrants, shaving material and soaps. The company is a wholly-owned subsidiary of Beierdorf,a German company, with 100% foreign equity participation. Nivea is a 95% brand and has more than 15 product ranges internationally, including Baby care,colour cosmetics,bath care and hair care. Government initially was against Niveas proposal to do wholesale trading since it was subject to government approval as it involved under FDI and trading activities. Commerce and industry ministry and the department of economic affairs supported Niveas proposal ,subject to the condition that The company didnt involve in retail trade.
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| Posted : 10/7/2005 |
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