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Innovative Brands LLC has purchased the deodorant brand Sure from Procter & Gamble for an estimated price of more than $100 million. The company purchased Pert Plus shampoo from P&G earlier this year, as the consumer goods giant begins an initiative to focus on brands with billion dollar sales or the potential to get there.
The new company plans to spend several times what P&G spent in promoting Sure, including customizing product promotions to the retailer, writes MediaPost.
Sale of Sure have fallen $60 million in the past five years, not including those at Wal-Mart stores. “P&G is really concentrating on deodorant brands that are gender-specific. There is a bigger opportunity to communicate directly about features and benefits,” Michele Szynal, a P&G communications director, is quoted as saying. Such gender-specific brands include Secret and Old Spice.
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