P&G Sheds Sure

Procter & Gamble Co. (P&G) sold its Sure deodorant brand to Innovative Brands, the same company that bought Pert shampoo from the company earlier this year. The deal, for an undisclosed sum, leads P&G out of the genderneutral, $2.4 billion antiperspirant and deodorant category, which has seen steady share losses in recent years amid the entry of Unilever's female-oriented Dove and male-oriented Axe. Innovative Brands CEO Joe Jacober says Sure "has higher awareness levels than several other leading brands in the category" and the company will "focus investments to increase awareness, create excitement and build successful marketing relationships" for Sure. The sale is in line with P&G's overall growth strategy, which will strongly focus on growing its core businesses, including leading brands in big growing developed and developing markets, and with winning retail customers around the world. CG