Procter & Gamble plans to win with skin; outlines major expansion of Olay brand’s reach

P&G plans global Olay expansion

CINCINNATI — Procter & Gamble Co. sees its Olay skin cream brand as a major source of future growth, including with men.

A P&G executive told analysts in Boston on Wednesday that the Cincinnati-based consumer products company is launching Olay in 15 new markets this year and will increase its global presence from 69 to 100 markets in two years.

Ed Shirley, vice chair of Global Beauty and Grooming, said P&G also sees good opportunities in key developing markets in Asia for male skin care products. P&G already has launched its new Olay Men Solutions in China.

He also noted that the Gillette brand has expanded into skin care with new products.

He says skin care is expected to be among the biggest growth drivers in the company’s portfolio.