An endeavor to counterbalance poor sales in the US and other developed countries has led Procter & Gamble Co.’s to adopt a new strategy of offering more products in larger emerging markets.
Earlier on Thursday, the CEO of P&G Bob McDonald and the company’s chief financial officer, Jon Moeller joined the investors in a meeting at the Barclays Capital conference in Boston.
According to McDonald, over the last 18 months, the manufacturer of Gillette shavers, Pampers diapers, and Pantene shampoo has heightened sales in India, China, Brazil, and Russia by increasing the product categories to more than twice, which has led to an exponential double-digit sales growth in those countries.
McDonald opines that a partnership with Israel-based drug maker Teva Pharmaceutical Industries Ltd. has enormous potential to broaden sales of P&G health care product. The partnership venture is expected to finalize and materialize by the end of 2011.
In morning trading, Cincinnati-based P&G’s shares declines 7 cents to $62.65.