HUL hives off Lakme, Ayush Therapy into new arm

Fast Moving Consumer Goods major Hindustan Unilever (HUL) has spun off the beauty and wellness businesses of Ayush Therapy centres and Lakme salons into a new subsidiary — Lakme Lever Pvt Ltd. The HUL board today approved the proposal.

Ashok Gupta, executive director, and D Sundaram, vice-chairman, will be directors at Lakme Lever along with Anil Chopra, who returns to the newly formed subsidiary. Chopra had retired in mid-2008 from HUL as vice-president - Lakme, Beauty & Wellness Services & HUL Network.

The service and wellness business of Lakme Lever will include the 140 Lakme salons and 40 Ayush Therapy Centres. Besides, eight of the Lakme Salons being company-owned the remaining Lakme salons and Ayush Therapy centres were operated on a  franchise model. HUL now will no longer be directly engaged in the services business of Lakme salons and Ayush Therapy centres.