Wet ‘n Wild to launch in Germany as it furthers global expansion
CITY OF INDUSTRY, Calif. — Markwins Beauty’s value cosmetics brand Wet ‘n Wild has signed a deal with DMV Diedrichs Markenvertrieb to launch the brand in the German market.
On the heels of its recent announcement of singer Fergie as the brand’s global beauty ambassador, Wet ‘n Wild is partnering with the German distributor in an effort to further its global expansion.
The brand is planning for its new products, packaging and fixtures to arrive in stores in May. The collaboration targets drug and mass retailers.
"DMV is the perfect partner for Wet ‘n Wild, as Germany is the next logical target for the brand’s global expansion," stated Bill George, president and COO of Markwins Beauty. "The German economy is the largest in Europe, and German women are among the top consumers of cosmetics. Our mix of quality, fashion and value resonates with these customers, and in DMV, we have a partner that knows the market and can deliver the support that retailers and consumers need."
P&G expands job cuts as part of new $10M cost-savings program
CINCINNATI — Procter & Gamble unveiled a larger than expected cost-savings program that involves cutting a total of 5,700 nonmanufacturing jobs in an effort to trim costs by the end of fiscal 2016, said P&G CEO Bob McDonald during the company’s annual Consumer Analyst Group of New York conference in Boca Raton, Fla.
According to published reports, the cuts represent about 10% of P&G’s nonmanufacturing jobs. P&G has about 57,000 nonmanufacturing employees among its total workforce of about 129,000.
The move is part of a new plan to cut costs by $10 billion through fiscal 2016. It includes $1 billion in marketing costs and $3 billion in overhead costs.
“To put the plan in perspective, it represents a huge 60% of fiscal 2012 operating profit. We doubt P&G can achieve this full target given such a large increase since its analyst day and low headcount savings contribution (~10%); but even if P&G slight misses its goals, the plan would provide much greater EPS flex,” Morgan Stanley analyst Dara Mohensian stated in a research note.
As reported by Drug Store News, P&G stated in its second-quarter earnings call in January that it would cut about 1,600 positions by the end of the fiscal year.
According to published reports, P&G said on Thursday it would cut another 4,100 jobs during fiscal 2013, which begins in July.
In addition, P&G reiterated underlying fiscal 2012 EPS guidance but officially lowered EPS from Pringles dilution, with fiscal 2012 EPS moving down by 7 cents to between $3.93 and $4.03, and the third quarter by 2 cents to between 89 cents and 95 cents.
Procter & Gamble is selling its Pringles potato chip business to Kellogg after a deal with Diamond Foods fell through.
PLMALive: Online advertising in favor of print opens door for store-brand messaging
NEW YORK — Online advertising is overtaking print advertising, according to a new video report by David Merrefield on PLMALive.
In 2011, spending on print advertising, which includes both newspapers and magazines, was $36 billion, topping the expenditure of online advertising at $32 billion. However, this year it is projected to reverse. Online advertising spending is likely to rise to $39.2 billion dollars while print is expected to drop under $33.8 billion, according to eMarketer.
"The change has strong implications for how private-label marketing will play out against branded-goods marketing in the future," Merrefield noted. "What’s fading is print media, long the domain of branded manufacturers."
Spending on television advertising, another medium dominated by branded advertising, has reached $80 billion and appears less impacted by Internet ad spending.
By 2016, online advertising expenditures are projected to be nearly double that for print.
The video report entitled, “Online Advertising: Boon for Store Brands,” can be accessed here.