Retail in Asia

In Sectors

P&G downshifts emerging-market expansion

Procter & Gamble’s chief financial officer said on Wednesday that the company will not accelerate its expansion as it seeks to resume building its market share and improve its operating results.

The world’s largest consumer products company – maker of Tide detergent, Olay skin scream and numerous products under 23 other brands with more than USD1 billion each in annual sales – has sought growth in emerging markets like Latin America and India as sales slowed in developed markets.

Many consumer product makers have shifted their attention in the same way. At Procter & Gamble, revenue from emerging markets will account for about 37 percent of annual sales by the end of this fiscal year, up from 20 percent in 2000.

(Source: CNBC)