CHECKOUT COUNTER: P&G saves $750m on advertising
A weekly round up of the hottest international retail and consumer news.
1. P&G in saving mode
Procter & Gamble has saved US$750m on advertising, says its CFO, Jon Moeller. He says the group — one of the world’s biggest advertising spenders — is expected to save another $400m. At the company’s second-quarter earnings call
last week he said P&G now works
with 2,500 agencies and plans to reduce this to 1,250.
2. KFC’s country colonel
Grammy-winning country music icon Reba McEntire has been appointed by KFC as the chicken brand’s newest version of Colonel Sanders. Wearing a wig, facial hair, glasses and a
fringed, sparkly white suit, McEntire appears in an ad for KFC’s Smoky Mountain BBQ chicken.
3. China comeback gives LVMH a boost
Luxury goods group LVMH posted an 18% rise in operating income for 2017, as strong demand from China increased sales. Rival Richemont, which owns Cartier, reported solid appetite from the region in the last three months of 2017. LVMH, whose brands include Dom Pérignon and Fendi, described the backdrop as supportive for the industry, saying it was "well-equipped to grow in 2018 despite unfavourable currencies and geopolitical uncertainties".
4. Walmart partners with Rakuten of Japan
Walmart announced a deal with Tokyo-based Rakuten to expand its online grocery delivery service in Japan, as
the world’s largest retailer invests in
e-commerce to combat an increasingly dominant Amazon. In terms of the deal the companies will collaborate on the sale of e-readers, audiobooks and
e-books in the US.