You are here: Home » PTI Stories » National » News
Business Standard

Unilever pricing row breaks out in UK

Press Trust of India  |  London 

Some of the UK's most famous household brands may be off the shelves of some supermarkets as a pricing row has broken out between Unilever and British supermarket chain Tesco.

Fast-Moving Consumer Goods (FMCG) major Unilever confirmed it is raising prices in the to compensate for the sharp drop in the pound's value.

The economic impact of Brexit has been blamed for the multi-national's move.

Tesco responded by removing Unilever products from its website.

"We are taking price increases in the That is a normal devaluation-led cycle," said Graeme Pitkethly, Unilever's chief financial officer.

A Tesco spokesperson said the supermarket was offering Unilever products as usual in stores, even though they had vanished from its website.

"We are currently experiencing availability issues on a number of Unilever products. We hope to have this issue resolved soon," he said.

Unilever is one of Britain's biggest suppliers of branded food and household goods and claims its products are found in 98 per cent of households. Its brands in the include globally known names such as Dove and Vaseline.

It is reported that the firm is trying to charge Tesco an extra 10 per cent for its goods, blaming the pound's dramatic fall against the euro and the dollar since Britain's referendum to leave the European Union (EU) on June 23.

The Pound Sterling has dropped by 16 per cent against the euro since the UK's Brexit vote.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, October 13 2016. 21:32 IST