Procter & Gamble Co., the world’s largest consumer-products company, plans to sell or discontinue 100 brands in an effort to revamp sales growth and cut costs, Chief Executive A.G. Lafley said in an interview with Bloomberg.
He also said the 70 to 80 its brands that will be kept account for 90 percent of sales and over 95 percent of profit. The company will focus on its most important product lines. Lafley said the company’s cut of its brands portfolio will make it easier to manage.
Procter & Gamble started out in 1837 as a small family run business selling candles and soap. Today, its core activities include production of personal care products, cosmetics and perfumes, health products, household goods as well as pet and baby products. The company’s major trademarks are Tide, Ariel, Always, Pampers, Pringles, Lenor, Mach3, Oral-B, Duracell, Olay, Wella, Gillette, Head&Shoulders, and Braun. For the just-ended fiscal year, P&G's sales were up only 1% to $83.1 billion.
