Product Diversity With Procter and Gamble
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Loading ...December 17, 2008 by Admin
Filed under Business, Stock Profiles
Procter & Gamble or P&G (NYSE: PG) is one of the biggest household names in the world. Carrying hundreds of brands, including CoverGirl, Gilette, Ivory and Dunkin’ Donuts, Proctor & Gamble covers a wide range of both personal care products and food products. P&G is perhaps one of the best-known companies today.
P&G is an old company, in existence long before the US Civil War. It was founded in 1837. In its early days, the company produced soap and candles. Ivory, was, however, not their first soap brand. That didn’t come along until the 1880s. As the decades went on, the company started to expand their portfolio of products. In the early part of the twentieth century, P&G started producing food-related products. Its first brand was Crisco. As a sign of the times, P&G also stopped producing candles in the 1920s.
For many young women, the first P&G products they buy on their own besides soap are probably cosmetics-related. Covergirl debuted in the 1950s. Launched as the cosmetics brand for Noxema, it joined the P&G family when they acquired Noxema. Covergirl sells a full range of make-up, including several different types of foundation, lipstick and mascara. Celebrity spokespeople have included Drew Barrymore and Queen Latifah. It has also been a sponsor for the reality show, America’s Next Top Model. The brand is also highly affordable. One downside to Covergirl is that their foundation colours are very pink-based, and therefore not suitable for many skintones.
Until 2005, P&G sold primarily woman-oriented brands. That year, the company acquired Gillette and this caused major media headlines, not only because the acquisition knocked Unilever out of top spot for consumer goods companies, but also because they were venturing into brands which were traditionally seen as “male.” It was interesting to note, considering that Gillette makes women’s shaving products as well.
With its diversity of products, much of the home can be stocked with P&G products. Perhaps the only other brand which can claim the same thing is its rival, Unilever.
On Tuesday, December 16, P&G opened at 59.90 and closed at 61.62. Its 52-week high and low were 74.49 and 54.92.
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