Procter & Gamble to Discontinue About Hundred of Its Brands by Summer
CEO of the personal care and house hold goods company Procter & Gamble, A. G. Lafley said that the by summer, the company plans to eliminate almost hundred of its brands.
About the brands which are to be discontinued, sold or consolidated, Lafley said "I hope in July we'll be able to turn all the cards over, or most of the cards over. We have a lot of interest in the assets that we're going to ultimately dispose of, assuming we get the value creation we want."
The revamped Procter & Gamble based in Cincinnati after the elimination will consist of approximately sixty five brands in ten categories, according to Lafley.
P&G hopes to optimize its sales by focusing on the company's core brands like Tide detergent, Pampers diapers and Gillette razors. Lafley said during a conference that the company hopes that the sale of these leading brands will allow profits and the return to make the shareholders happy.
Last year in August Lafley had expressed his intention to find a way out of many of the brands. Till now the company has revealed its plans of selling or discontinue thirty five of its brands which include Iams pet food Camay soap and the Duracell batteries.
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