The transfer of those 41 brands, known as the P&G Specialty Beauty Brands, is a done deal. And Coty now ranks among the big five global beauty companies, having taken over brands in fine fragrance, professional hair and nail, color cosmetics, and retail hair color and styling.
With those brands went teams of professionals; and P&G is left with a leaner operation all around. Commenting on the changeover, David S. Taylor, P&G chairman, president, and CEO tells the press, “I'm pleased with the timely, efficient and effective transition of these businesses.”
“I want to share my personal thanks to all the employees who have transitioned to Coty,” he adds. “They showed amazing dedication during a period of uncertainty—demonstrating time and time again the strong character of P&G people. I thank them for everything they did during the transition and for all their years with P&G and wish them an exciting future with Coty.”
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P&G is moving forward as a more specialized personal care and home products company. “The completion of this transaction is a key step in our journey to return P&G results to a balance of strong top-line growth, bottom-line growth and cash generation,” says Taylor in a press release confirming the completion of the Coty deal.
The plan now is for the company to be “focused on 10 product categories and about 65 brands where P&G has leading market positions and where product technologies deliver performance differences that matter most to consumers,” he explains. Those 10 categories are hair, grooming, skin and personal care, oral, personal health care, feminine, baby, family, fabric, and home.
Among the well-known brands left in the P&G portfolio are aussie, Crest, Gillette, Head & Shoulders, Herbal Essences, Ivory, Olay, Old Spice, Oral-B, Pantene, Rejoice, Safeguard, Secret, and SK-II.
Summing up this week’s transition of the P&G Specialty Beauty Brands, Taylor affirms, “this effectively completes the major work we undertook two years ago to streamline and strengthen our product portfolio.”