Kimberly-Clark pulls out of Venezuelan market

Kimberly-Clark pulls out of Venezuelan market

Kimberly-Clark has announced that it is to cease operations in Venezuela as consumer prices soar and basic goods become virtually unobtainable, according to a report published by Reuters.

Due to these shortages, the FMCG giant has been forced to halt production lines in the last two months and has suffered from high inflation.

“The combination of these factors makes it impossible to continue our business at this time,” said Kimberly-Clark in a statement. “Kimberly-Clark will not continue producing, distributing or selling its product lines for institutional or mass consumption while this suspension is in effect.”

 

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