On Wednesday, MNB wrote:
"BrandWeek reports that Procter & Gamble CEO A.G. Lafley plans to drop brand names from the company's portfolio 'that don't have a strategic role or cannot deliver strategic growth or financial performance.' The company seems focused only on mega brand names or brands that have that potential.
"Lafley says that this could mean the end of some historic names that have been part of P&G for a long time, such as Gleem, Ivory Soap, Luvs, and Joy. The company already has gotten rid of such familiar names as Jif, Prell and Comet…
This was an inadvertent misinterpretation of what the BrandWeek story said. While the magazine speculated that brands such as Gleem, Ivory Soap, Luvs, and Joy could be affected by the P&G strategy, and Lafley acknowledged that the company is always evaluating its portfolio of brands, Lafley did not point to these specific brand names as being targeted.
MNB regrets the misstatement.
"BrandWeek reports that Procter & Gamble CEO A.G. Lafley plans to drop brand names from the company's portfolio 'that don't have a strategic role or cannot deliver strategic growth or financial performance.' The company seems focused only on mega brand names or brands that have that potential.
"Lafley says that this could mean the end of some historic names that have been part of P&G for a long time, such as Gleem, Ivory Soap, Luvs, and Joy. The company already has gotten rid of such familiar names as Jif, Prell and Comet…
This was an inadvertent misinterpretation of what the BrandWeek story said. While the magazine speculated that brands such as Gleem, Ivory Soap, Luvs, and Joy could be affected by the P&G strategy, and Lafley acknowledged that the company is always evaluating its portfolio of brands, Lafley did not point to these specific brand names as being targeted.
MNB regrets the misstatement.
- KC's View:
