Olay: Brand Profile (US)
With a global audience in almost 80 countries, beauty and skincare brand Olay is one of Procter & Gamble's biggest properties, and the global best-seller in facial skincare. Sales broke through the $2bn barrier in 2008, and were estimated at around $2.5bn for 2012. The range now extends to more than 100 different moisturizing and cleansing products. It's a very long way from the brand's original development as a treatment for wartime burn victims, and this growth has been achieved despite fierce competition in the segment from rivals Dove, Neutrogena and Nivea, each of which has rolled out a similar host of brand extensions. In an attempt to shrug off its competitors, Olay has pushed aggressively into the upper end of the market with a series of premium-priced anti-aging and regenerating products. However, the brand has encountered stiff competition since 2010, especially in the US, from rival products offering a similar range of benefits at mid-market prices.
Which agencies handle advertising and marketing for Olay? Find out more from Adbrands Account Assignments
Who are the competitors of Olay? See Personal Care Sector index for other brands
Adbrands Company Profiles provide a detailed analysis of the history and current operations of leading advertisers, agencies and brands worldwide, and include a critical summary which identifies key strengths and weaknesses. Adbrands Account Assignments tracks account management for the world's leading brands and companies, including details of which advertising agency handles which accounts in which countries for major markets.
Recent stories from Adbrands Weekly Update:
Adbrands Weekly Update 15th Aug 2013: Slipping sales at Procter & Gamble's mammoth beauty division prompted fashion trade bible WWD to relegate the group to third place in its annual Beauty 100 ranking, slipping behind the revitalised Unilever. WWD estimated total beauty revenues of $20.08bn for P&G in calendar 2012, compared to $20.7 for Unilever. L'Oreal remains firmly at the top of the table with $28.9bn. Rounding out the top five were Estee Lauder and Shiseido, some way behind at $10bn and $8.4bn respectively.
Adbrands Weekly Update 8th Aug 2013: Procter & Gamble's newly reinstated CEO AG Lafley reported annual figures for the year to June 2013, and the results were perhaps a little better than some had expected, despite a poor final quarter in which net earnings almost halved. For the full year, however, earnings were up 5% to $11.3bn, better than last year but still well below past results. Revenues edged up by just 1%, but still hit an all-time high of $84.2bn. The weakest performances were from the group's giant beauty and grooming businesses, both which reported a decline in full-year revenues. Lafley acknowledged problems at the Pantene and Olay brands, which have been outpaced in recent months by competitors. He admitted that P&G's beauty business had "stalled", but reassured investors, "We know what we need to do and we're on it." Gillette too, core of the men's grooming division, faces multiple challenges, including less frequent facial shaving and a rise in popularity in body shaving, a segment where the group remains weak. Those declines were offset by modest increases at other group divisions, notably health care. Lafley said he has spent the two months since he was reappointed as CEO on a "deep dive" into P&G's business, "trying hard to see things as they are, not as we want them to be." The group is, he explained, pushing forward urgently to increase productivity and efficiency. "We've got to get to a much more agile, a much faster, a much more decisive culture." However he warned that the process wouldn't take effect overnight. "We're threading a needle here... It's going to take a couple of years before we've got everything in place so that we're hitting on enough cylinders to perform to our full potential."
The Adbrands Company Profile of Olay summarises the brand's history and current operations and also contains the following website links:
Olay global website
Adbrands.net. All rights reserved © Mind Advertising Ltd 1998-2013