Clairol was also an important moment in the evolution of the
company’s long-term strategy of putting more emphasis on
higher-value-added businesses. P&Gs best-known brands are still Tide, Crest
and Pampers, but health, grooming and beauty now account for almost half of
revenues, including such brands as Oil of Olay (skin care), Frederic Fekkai
(luxury hair products) and Hugo Boss (fragrances).
In 2007, P&G launched an innovative new colorant
under Clairol’s Nice ‘n Easy brand called “Perfect
10.” It took only 10 minutes, less than its competitors; used a
patented PerfectColor comb to distribute the color; and sold at a premium
price. Perfect 10 was a hit. Not only did the marketplace approve, but so did
the industry; it won more than a dozen beauty and magazine awards, from Good
Housekeeping to Marie Claire to Women’s Wear Daily. “We got
credentialed,” concludes Lafley, who has never colored his shock of
white hair. “The awards said, ‘We’ve arrived.’
In its first year, Perfect 10 earned a 5 percent market
share and is still growing. Its success has helped to propel Nice 'n Easy to No.
1 in the home colorant category for the first time since 1982.
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