Procter & Gamble to dump about 90 of its smaller brands
Procter & Gamble CEO A.G. Lafley said that the maker of Pampers diapers, Crest toothpaste and Tide detergent will sell or exit 90 to 100 mostly minor brands in a
n attempt to refocus the business behind its 70 to 80 remaining best-selling brands. "Details of the final global brand portfolio are yet to be announced. I can't tell you what is included in the 70-to-80-brand portfolio, but I can tell you that each brand we plan to keep is strategic, with potential to grow," said Liang Yun, director of external relationships for P&G China Ltd.
"These 70 to 80 brands are leaders in their industry, category or segment, and are preferred by consumers and supported by retail customers. We currently market more than 20 brands in China that are leaders or have leadership potential. China has a lot of room for growth and value creation in the future," Ms. said in an e-mail to China Daily.
P&G said those "core" brands have accounted for 90 percent of sales and more than 95 percent of profit over the past three years. Twenty-three of the brands have recorded sales of between $1 billion and $10 billion. ■