Shaving products maker Gillette India on Tuesday informed that Procter & Gamble Bangladesh has terminated the distribution agreement with the company.
Gillette India has received a letter from its distributor, Procter & Gamble Bangladesh, notifying the termination of the distribution agreement with the company, which will be effective December 31, 2024.
As a consequence of this termination, the company will have an impact of proportionate drop in net sales under this agreement, according to a regulatory filing from Gillette India.
"For the financial year 2023-24, the net sales under the said Distributor Agreement accounted for 2 per cent of the total net sales of the company," it said.
However, it said, there is no material impact on the company's profits due to this termination.
Gillette India revenue was ₹2,633.08 crore in FY23-24.