Top 100 Global Innovative Companies - P74. P&G

07-10-2020

(Worldkings.org) The company began to build factories in other locations in the United States because the demand for products had outgrown the capacity of the Cincinnati facilities.

The Procter & Gamble Company (P&G) is an American multinational consumer goods corporation headquartered in Cincinnati, Ohio, founded in 1837 by William Procter and James Gamble.

It specializes in a wide range of personal health/consumer health, and personal care and hygiene products; these products are organized into several segments including Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine, & Family Care. Before the sale of Pringles to Kellogg's, its product portfolio also included foods, snacks, and beverages. 

Candlemaker William Procter, born in England, and soapmaker James Gamble, born in Ireland, both emigrated from the United Kingdom. They settled in Cincinnati, Ohio initially and met when they married sisters Olivia and Elizabeth Norris. Alexander Norris, their father-in-law, persuaded them to become business partners, and in 1837 Procter & Gamble was created. In 1858–1859, sales reached $1 million. By that point, about 80 employees worked for Procter & Gamble.

During the American Civil War, the company won contracts to supply the Union Army with soap and candles. In addition to the increased profits experienced during the war, the military contracts introduced soldiers from all over the country to Procter & Gamble's products.

In the 1880s, Procter & Gamble began to market a new product, an inexpensive soap that floated in water. The company called the soap Ivory. William Arnett Procter, William Procter's grandson, began a profit-sharing program for the company's workforce in 1887. By giving the workers a stake in the company, he correctly assumed that they would be less likely to go on strike. The company began to build factories in other locations in the United States because the demand for products had outgrown the capacity of the Cincinnati facilities.

The company's leaders began to diversify its products, as well, and in 1911, began producing Crisco, a shortening made of vegetable oils rather than animal fats. As radio became more popular in the 1920s and 1930s, the company sponsored a number of radio programs.

As of 2015, 21 of P&G's brands have more than a billion dollars in net annual sales. Most of these brands—including Bounty, Crest, and Tide—are global products available on several continents. P&G's products are available in North America, Latin America, Europe, the Middle East, Africa, Asia, Australia, and New Zealand.

According to en.wikipedia

 


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