LONDON, Oct 22 (Reuters) - Consumer goods group Reckitt
expects China to continue to be a growth engine for its
core business, CEO Kris Licht said on Wednesday, as
health-conscious consumers increasingly engage with brands
across the company's portfolio.
Reckitt beat expectations for third-quarter like-for-like
net sales growth, boosted by strength in emerging markets, which
saw like-for-like net revenue growth of 15.5%, marking a bright
spot for a sector weighed down by broader pressures.
China specifically delivered another strong quarter of
double-digit growth, Reckitt said, with brands including Dettol,
Durex and Veet contributing to market share gains there.
China's population is ageing and now fairly affluent, Licht
said, creating a real willingness to spend. E-commerce now makes
up the majority of Reckitt's China business, Licht added, while
livestreaming, one of the ways Reckitt engages with consumers,
is growing fast.
"We're just seeing a very receptive consumer that is willing
to try new things, willing to pay a premium for improved
performance and effectiveness, and I think that's a good place
to be," Licht said.
Licht named Malaysia, Colombia and Indonesia as markets that
could help create a "third engine" of growth in emerging
markets, building on strong performance in China and India.