P&G to shift some beauty units to Singapore

US-based consumer goods manufacturer Procter & Gamble’s (P&G) will move its skincare, cosmetics and personal care headquarters from Cincinnati, Ohio to Singapore, to focus on the fast-growing Asia beauty market.

According to the company, the transition would happen in two years, and the FMCG manufacturer will centralise the company as its baby-care unit is also based in Singapore.

The company said it is concentrating on its fast-growing emerging markets, such as India and China, where the company claims to be registering a double-digit growth.

P&G spokesman Paul Fox said they had been working for some time on a plan to relocate the leadership team for their skincare, cosmetics and personal care businesses to Singapore.

"Asia has seen the strongest and most robust growth of any global market and continues to demonstrate that, with many countries in the region exhibiting double-digit growth in the categories where we compete," Fox said.

The company said P&G’s Asian beauty and grooming business has reported a 12% growth, while the haircare brands Pantene, Head and Shoulders and the SK-II skincare line have reported an annual sales of more than $1bn from Asia alone.

According to the company, there is a rising demand for products such as skin-whitening creams, razor blades in China, India, Malaysia, Japan and Korea.

The company has also appointed a new president for Asian business, as Deb Henretta, currently group president for Asia, will succeed Drosos to become head of the global beauty care business.

P&G’s vice president for Japan, Hatsunori Kiriyama, will succeed Henretta, making him the first Asian leader to be put incharge of the Asian business.