Procter & Gamble started their journey from a simple soap and candles shop to a giant company in the field of consumer goods. It is the leading manufacturer of household products in the United States and has its operation in nearly 80 countries across the globe. It merchandises nearly 300 brands in more than 160 countries, and more than half of its revenue is obtained overseas. P&G is the leader in its market. Let us look at how it got started and see the history of Procter and Gamble.
The adventurous journey started in 1837 with a simple soap company named Cincinnati Company. It was the year of a financial crisis in the country and two men have made this journey worth talking about. They are William Procter and James Gamble. Procter was also a soap maker, and Gamble was a candle maker, these products became the foundation for their success.
History of Procter & Gamble
- 1850 (Early Stage)– The company began to add its logo of moon and star to its product and was growing by building new plants. Their shipments were moving down the rail across the country. The company also started moving its operation to a bigger scale.
- 1860 (During Civil War)– During the Civil War, it was fortunate and attained a deal to supply soaps and candles to northern armies. By this, the company found newer ways to deal with the raw material shortage.
- 1879 (The growth stage, launching Ivory soap)– James used his chemistry knowledge to create a cheaper equivalent of expensive soaps. The white soap hit the market and catapulted the forefront of the industry.
- 1890 (Diversifying Product Lines) – The soap business diversifies its product lines in more than 30 different soaps during the era of growth in cash. So, the company Procter & Gamble was incorporated, making William Procter its first president.
- 1915 (Starting Journey Overseas) – The company opened its first manufacturing plant outside the United States.
- 1950 – In the 1950s, the drying wood pulp led them to introduce a white cloud toilet paper and puff tissues. It improved technology over the years and kept adding newer products.
- 1963 – The company entered the food market in the year 1963 by the acquisition of Folger Brand, a coffee-making company, and introduced stackable Pringles Potato chips.
- 1980 – In the 1980s, the health care sector was one of the growing sectors in the United States, so to serve the market, they made a joint venture with a pharmaceutical company.
- 1991 – Procter & Gamble expanded its presence in the cosmetic and fragrance segment in 1991 by the acquisition of World Max Factor and Bertix Lines from Revlon. It also had its major restructuring and acquisition in the mid-era of 1991.
What’s Happening Today?
P&G has grown into something far beyond what its founder ever dreamed of. The company has also reported its third-quarter sales of 17.2 billion and an increase of 5% from the previous year. Also, it is now one of the biggest consumer goods firm catering across the globe. Even at times of an economic slowdown, its stock does show the history of success. The coming year’s success would depend upon how they position their home products to find a path to acquire the market share.
