Switzerland is the location for the headquarters of Procter & Gamble Europe, the umbrella for the US giant's operations across that region. The continent accounted for 24% of group revenues in fiscal 2018, or just over $16.0bn. It is still P&G's second biggest region by sales after North America. Sales will get an additional lift in 2019 from the addition of Merck KGaA's OTC healthcare products, acquired in 2018, and the reconsolidation of P&G's own healthcare products (such as Vicks) that had previously been managed internationally by Teva. The group operates across in 57 local markets across Europe. It maintains partnership arrangements with local manufacturers in a handful of markets, most notably Italy (where Pampers, Tampax and other brands are marketed by Fater, a joint venture with local company Angelini, side-by-side with P&G's own local operations). P&G sells a broad range of its major brands across the region, though the mix varies from country to country. One major exception is the absence of US toilet tissue and kitchen towels brands Charmin and Bounty. P&G quit this sector in Europe altogether in 2007, selling those brands to what is now Essity. A small number of acquired local brands remain, including Ausonia and Evax sanpro; and Blend-a-Med, AZ and Kukident toothpaste. Perhaps the most significant Europe-only brand is British dishwashing liquid Fairy, which has been successfully extended into a number of other products including dishwasher tablets and cleaning sprays, and is marketed in several continental markets under the brandname Yes. Loic Tassel is president of Europe selling & market operations, overseeing all 57 local countries. P&G arrived on European soil for the first time in 1930, with the acquisition of British company Thomas Hedley, makers of Fairy soap. The group established outposts in Switzerland, Belgium, France and Italy during the 1950s; Germany, Greece, the Netherlands and Sweden in the 1960s, and other markets over the following years.
Capsule checked 20th June 2019
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