Cincinnati-based FMCG major, Procter & Gamble, is planning to focus on its skincare and perfume business in China and Latin America respectively. The aim behind the move is to boost luxury sales outside US and Europe. “Premium skincare brands like SK-II can be targeted in Asian countries, especially China as the expenditure on face creams and other skin products has grown over 21 percent in the last four years,” says Pablo Zuanic, an analyst at Liberum Capital Ltd, USA. In Latin America, P&G will focus on fragrances as major players in the category are either home-grown or are direct sellers like Avon. “Most of the players are local in Brazil and we believe there’s an opportunity for us to play there,” says Patrice Louvet, President, P&G Global Prestige Products.
Posted on: 6-10-10