Nivea launches wholly-owned subsidiary in India

Mumbai, May 3: Nivea, owned by Beiersdorf AG Germany, has launched a wholly-owned subsidiary in India, known as Nivea India.

The affiliate, headquartered in Mumbai, is headed by Mr Kai Boris Bendix.

Nivea India is now responsible for all critical functions such as marketing, finance, supply chain and sales to key accounts. J L Morison, previously a licensee, remains with Nivea as a national distributor for traditional trade and also a manufacturing partner.

The parent company Beiersdorf AG Germany is a Rs 30,000-crore (Euro 5,120 Million) beauty and skin care MNC. It has affiliates in over 169 countries, enjoys market share of up to 30 per cent and holds more than 200 top positions in cosmetics categories across the globe.

''Beiersdorf, since two years implements and commits to the BRIC-Country Strategy putting Indian business in the top box of Strategic Geographical Focus. From the very first day of Nivea India's existence, Beiersdorf has extended tremendous support and dedicated resources,'' said Mr Bendix.

UNI