BD recently wrote about Procter & Gamble (P&G) agreeing to acquire Billie, a women’s shaving and personal-care business committed to serving women’s beauty and grooming needs.
Now, WWD has reported that the multinational consumer goods corporation has seen expansion across all segments in its second quarter – including the grooming division – which has struggled in recent times due to increased competition from newer shaving businesses that offer lower price points and direct access to consumers.
In fact, grooming net sales saw an increase of two per cent, up to US$1.6 billion. Shave care brought in organic growth in smaller single digits due to innovation and price increases. However, the segment saw unit volume declines in specific markets, with overall gains being offset by “competitive activity,” according to P&G. Appliance sales increased in the higher end single digits, said to be driven by innovation and the growth of premium products.
Overall company net sales gained five per cent year-over-year, increasing to US$18.2 billion for the quarter. Increasing 16 per cent from the prior year was net earnings, which soared to US$3.7 billion. Diluted earings per share also grew by 16 per cent.
Beauty net sales (consisting of brands such as Pantene, Olay and SK-II) saw an increase by seven per cent, to approximately US$3.6 billion and were driven by premium innovation and increased pricing. Hair care saw a rise of six per cent in the quarter, following “disproportionate growth of higher-end products.” Skin and personal care were both up 10 per cent.
