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The Greatest Opportunity for Growth
By: Lisa Doyle
Posted: May 4, 2010, from the May 2010 issue of GCI Magazine.
Donald Loftus, president and CEO of P&G Prestige Products, Inc.
page 3 of 3According to Loftus, opting to focus on developing key brands and perfecting the offerings within them benefits both P&G and the consumer. “We have a strong portfolio of brands that consumers love. Consumers identify with these brands; they represent the dreams and desires of people all over the country, and, importantly, they are brands people trust,” he notes. “Because of the economic downturn, the industry is cutting back on the number of launches; however, ‘Fewer, Bigger, Better’ was a strategy we already adopted. We focus our resources and capabilities behind the biggest opportunities and fund them properly to further fuel their growth. This allows great brands of today to become the classics of tomorrow.”
“Working for a leading company like P&G, we have a responsibility to help grow the [fragrance] category,” says Loftus. Moreover, in the face of a challenging industry, Loftus also notes the importance of showing true leadership. “Leaders need to remember always that by virtue of the title, they have followers who are counting on the their strength and judgment to get them through the tough times,” he says. “We have to remember to listen and offer support or assistance so that the teams can achieve their goals despite the toughest challenges.”
Not only has Loftus been able to do so through innovative strategy at P&G, his leadership role at The Fragrance Foundation continues to serve as a conduit for him to positively impact the industry. Now sitting on the executive committee after retiring from a three-year-stint as chairman of the board, he supports the group’s efforts in education and general awareness, such as the newly launched One Drop Changes Everything multimedia initiative designed to entice consumers back to the fragrance market. “When The Fragrance Foundation is successful in its efforts to educate the consumer on the benefits of fragrance, we all benefit,” he concludes.
Lisa Doyle was formerly the associate editor of GCI magazine and is a freelance writer in the Chicago area. Her work has appeared in Skin Inc. magazine, Salon Today, America’s Best, Renew and Modern Salon.