The Procter & Gamble Co. has an antidote to get Pantene and Olay, two of its largest beauty brands, growing again, said chief financial officer Jon Moeller at a conference hosted by Morgan Stanley on Tuesday.
Moeller said Pantene and Olay’s recent “stumbles” in North America have offset progress in other beauty segments, such as cosmetics and personal cleansing.
“Making major changes in momentum of businesses this size, though, doesn’t happen overnight,” said Moeller.
But change is in the works, he said, adding that the greater opportunities for the two brands are in North America and China.
Moeller noted that last January the company began converting Pantene’s U.S. positioning back to healthy hair, its heritage. This coming January, P&G will roll out another revamp showcasing a copper-fighting technology across its Pro-V shampoos and a new Pantene Expert collection called Hair Regrowth Treatment for Women.
For Olay, Moeller said, “We’re building holistic plans to address Olay’s overall brand architecture and execution, including consumer benefit segmentation, product formulation, packaging and communication. We’ve also made investments to improve supply chain capability. In the areas where we’ve made interventions, we’re beginning to see positive results.” He noted that more than 80 percent of consumers who try Fresh Effects, a line tailored toward a young consumer that launched earlier this year, are first-time Olay users.
In China, Moeller said P&G is working to clarify its different product tiers and benefit segments across Olay. It also recently introduced upgrades to the Olay Natural White line, and plans to launch Olay Complexion Correction, or CC cream.
Cosmetics have emerged as a bright spot for P&G. Moeller said the company’s makeup business is charging along, led by double-digit volume growth last quarter, and more than 20 percent volume growth in the previous quarter.
The Cover Girl brand has increased its value share in the U.S. by 0.5 percent, driven by introductions such as Clump Crusher by LashBlast mascara, Outlast nail polish and Lipslicks Smoochies.
This fall, the brand tapped Katy Perry as a spokeswoman, launched a collection in partnership with “The Hunger Games” sequel called Flamed Out, and began shipping the Bombshell eye products, which includes Bombshell Volume by LashBlast mascara.
Moeller said, “We’re making progress on Pantene and Olay, but it will take some time to return these brands to market share growth.”
London’s newly opened @designmuseum will look back on the life and work of Azzedine Alaïa in a show that the designer helped to curate before he died of heart failure last month. The retrospective, which Alaïa had worked on with Mark Wilson, chief curator of the @groningermuseum, will look at the impact of his work worldwide. The show, “Azzedine Alaïa: The Couturier,” will run from May 10 to October 7. Read more about the exhibit on WWD.com #wwdnews #wwdfashion (📷: @zefashioninsider)
@Pharrell and his wife Helen Lasichanh were among the stars that came out to celebrate @rimowa’s first pop-up concept shop. The space, which is located on Rodeo Drive in Beverly Hills, draws inspiration from airport luggage carousels and lounge areas – and features the company’s luggage and accessories. If the pop-up is successful it could pave the way for addition temporary shops throughout the world. #wwdfashion (📷: Owen Kolasinski/BFA)
@carineroitfeld celebrated @crfashionbook’s first calendar last night with a dinner party at Spring Place in Manhattan. Photographed by @stevenkleinstudio, the calendar takes on a fitness theme and features @joansmalls, @gigihadid, @danielle_herrington_ – pictured here – and more. “[Carine Roitfeld] wanted me to feel sexy and she wanted me to be myself and feel it out on my own and do what I felt was right,” said Herrington, aka Miss October. #wwdeye
@saintrecords and @virgilabloh last night at @americanexpress’ “A Night With Success Makers” event. “I always bring it back to community because without that I wouldn’t have the courage,” said Knowles when asked how she has gotten where she is now. Read more highlights from their conversation on WWD.com. #wwdeye (📷: @lizdoupnik)
This Just In: Industry sources have told WWD that Anastasia Soare is rumored to be considering selling her beauty business, @anastasiabeverlyhills. According to those sources, Soare has tapped investment bank Imperial Capital to explore sale options for her eponymous beauty brand –– and with at least $340 million in net sales, this would be a big deal. Put in context of other recent transactions for makeup companies, Soare’s price tag could be in the billions if she were to sell the whole thing. #wwdnews #wwdbeauty (📷: @clint_spaulding)
@assouline’s latest book, “The Spirit of Bentley: Be Extraordinary” captures the adventurous attitudes and opulent lifestyles of @bentleymotors’ most creative owners and enthusiasts throughout the U.K. The 292-page hardcover has a section dedicated to showing its team of skilled artisans and photos of its most colorful owners, from George Bamford to designer @alicetemperley, pictured here by Aline Coquelle. #wwdeye
@google released its report on the most popular search terms this year. For fashion brands, the list was led by @gucci, the luxury brand that stunned the market last October when it pledged to stop using fur. Runner ups were @supremenewyork and @fashionnova, along with more established brands like @louisvuitton, @chanelofficial and @ysl. #wwdfashion (📷: @aitorrosasphoto)
In yet another fashion show shuffle, @elleryland is moving its show in sync with the Paris couture calendar — though the brand is still keeping one foot on the city’s ready-to-wear schedule. Their runway show in January will coincide with the launch of a new strategy: designing two main collections each year instead of four, which will then be released in four drops. “As we all know, the system needs to change. We need to show sooner to give time back to artisans and designers to do what they do best — create,” said founder Kym Ellery. #wwdnews #wwdfashion (📷: @kukukuba)
@maxmara’s classic 101801 coat was the cornerstone of its pre-fall 2018 collection. The design team expanded the traditional double-breasted, kimono-sleeved style into a trapeze coat, lean belted styles and a peacoat and presented them in monochromatic looks – like the camel one pictured here. #wwdfashion #prefall18 (📷: George Chinsee)