Procter & Gamble said to sell off beauty brands
The reorganization of Procter & Gamble’s (P&G) brand portfolio is taking shape. According to Bloomberg, the American beauty-care product company is selling off its beauty brands. P&G apparently has sent out sales documents for its fragrances, hair care (including Wella) and makeup assets, to potential buyers including Coty, Revlon, Unilever or Kao. A total of 19 billion dollars worth of assets could be sold.
The report confirms another by Reuters in December, which indicated that Procter & Gamble was working with Goldman Sachs in order to sell Wella. P&G, meanwhile, sold its perfume brand Rochas a month ago to French company Interparfums. Alongside the sales, the American company is also exploring the IPO of some of its brands.
Both the completed and future sales are part of a strategic plan designed to allow P&G to return to growth. Six months ago, A.G. Lafley, the CEO of Procter & Gamble, explained his intention to focus on "70-80 best-selling brands" and to "sell or exit the remaining 90 to 100 brands."
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