Consumer goods colossus Procter & Gamble has revealed that it may sell shampoo brand Wash & Go.
The move would be in line with P&G’s strategy of focusing on core global brands, following disappointing financial results [WAMN: 1-Nov-00].
Wash & Go is marketed only in Europe and, although profitable, represents a mere 1% of worldwide beauty care sales. P&G haircare president Martin Nuechtern described the brand as “no longer a primary focus area for us,” adding that the group would concentrate on more global products such as Pantene and Head & Shoulders.
Merrill Lynch has been appointed to investigate the possibility of a sale.
News source: Financial Times
