Imperial Leather, the British soap brand, is a very good example of the predicament in which its owner PZ Cussons found itself until recently.
The brand remains very well-known, and some of its old tag lines – Imperial Leather: “release the lather” – still linger in the collective consciousness. But it’s on that lingering that it had continued to trade, and in subsequent cost-cutting efforts it had found itself struggling to protect its margins as a reliance on trade marketing at the point of sale left it converting the ever-fewer customers who still bought the brand.
“It’s almost like a...