USA: P&G to relinquish multiple personal care brands
P&G, the leading FMCG multinational, has confirmed the 43 health and beauty brands it is selling to cosmetics firm Coty, according to a report in Cosmetics Business.
The sale will affect brands in professional hair care, retail hair care, fragrances and cosmetics. Some of the larger brands being divested are Nice N’ Easy hair colour, Hugo Boss, Gucci and Lacoste fragrances and Covergirl cosmetics.
Among the brands excluded from the deal are Head & Shoulders, Herbal Essences and Aussie in haircare, Gillette and Venus in shaving products, and Olay in skincare.
The $12.5 billion deal, described as the largest beauty brand sale in the past decade, is reportedly set to be completed towards the end of 2016.
Separately, it is reported that P&G will also be selling TAG body fragrance to My Imports USA.
At one time, TAG was the number three best selling body spray brand in the US, with 20% market share. The US-based firm acquired TAG as part of the takeover of Gillette in 2005.
“We are excited to have TAG as a part of our family of brands and our go-forward strategy to own and market well-known brands”, said My Imports USA CEO Fahim Ibrahimi.
Source: Cosmetics Business