May 4, 2017

Unilever strikes deal with rival in bet on Myanmar

Unilever has struck a joint venture deal with a local consumer goods rival in Myanmar as part of a bigger bet on the fast-opening country despite a fall in economic growth and the currency. Unilever was among the first big western companies to enter Myanmar after most international sanctions were lifted in response to the launch of a political transition that led to the Aung San Suu Kyi-headed government taking office last year. Unilever's previous operations in Myanmar were nationalised in 1965, during the early years of what would become almost half a century of repressive rule by the military. The Myanmar deal also highlights how big multinationals in the country often have to struggle hard to compete with local rivals with dominant positions. "We tried to bring some other brands to the country but honestly we were not as successful as EAC," he said, referring to efforts to expand Unilever's product range in Myanmar beyond personal hygiene and Knorr chicken seasoning.

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