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> FMCG gi­ant Proc­ter & Gam­ble


has cut the num­ber of agen­cies it works with by 40% glob­ally, sav­ing $300 mil­lion in agency and pro­duc­tion costs, but much of that sum will be rein­vested into other media, as the com­pany in­tends to shift more ad dol­lars to dig­i­tal, so­cial, video and mo­bile. The ini­tia­tive comes as P&G con­tin­ues its di­vesti­ture strat­egy of merg­ing or selling off more than half its brands as it tries to adapt to an in­creas­ingly com­pet­i­tive global FMCG mar­ket. The com­pany in­tends to re­tain a core port­fo­lio of 65 brands, in­clud­ing Tide de­ter­gent and Gil­lette shav­ing prod­ucts, which is said to be re­vi­talised when an im­proved car­tridge is launched in Jan­uary next year. P&G re­ported net sales of $17.8bn over the quar­ter, its sixth suc­ces­sive quar­terly fall, although sales were hit mainly be­cause of the strong dol­lar.

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