Seizing the White Space: Business Model Innovation for Growth and Renewal

4

The White Space Beyond

Creating New Markets

One does not discover new lands without consenting to lose sight of the shore for a very long time.

—André Gide

India is home to 16 percent of the world’s population—but to 28 percent of the world’s hair.¹ This is a very good statistic if you happen to sell shampoo, and it’s one of the reasons why Hindustan Unilever has nearly tripled its sales and profits over the last five years.² The company has for years been a market leader in personal care products, initially finding success among India’s rising middle class and then introducing a wide range of brands appealing to low-income market segments. Leadership in such a rapidly developing market might seem to guarantee a long run of growth. ...