P&G sells a Sure thing
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MARK AUSTIN THOMAS: They say nothing is sure in this life. Proof of that takes place this week. After 33 years Proctor & Gamble is selling off its Sure deodorant line. Stacey Vanek-Smith has that story.
STACEY VANEK-SMITH: Companies pour billions of dollars into slogans and jingles every year-all to get you to recognize their brand so you’d think they’d want to hang on to established products.
But Proctor & Gamble is shedding them. A few months ago, it sold Pert Plus.
Product Development expert Louis Foreman says a lot of companies are selling off products with established names but little potential for big growth.
LOUIS FOREMAN: Rather than trying to spread your available resources on a lot of different brands, focus on the ones that have the greatest potential to be breakout products.
Private equity group Najafi Companies financed the purchase of Sure and Pert Plus. They think with a little TLC, those old brands will still bring home the bacon.
FOREMAN: They’re hoping that by focusing all of their attention, they can actually achieve better results than when that product was just one of many brands in a large portfolio.
And with a solid customer base and strong sales, Sure is probably a sure thing.
I’m Stacey Vanek-Smith for Marketplace.
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