P&G pursues the do-it-yourself health care business
By Sharon Terlep | Nov. 18, 2019 8:39 am ET
Procter & Gamble is making a push into wellness and self-care, as consumers continue to spend heavily to treat conditions from insomnia to itchy skin without doctors or prescription drugs.
Procter & Gamble is making a push into wellness and self-care, as consumers continue to spend heavily to treat conditions from insomnia to itchy skin without doctors or prescription drugs. "People are more curious and taking their health into their own hands, which is definitely a change from what was the norm," said HongJoo Sun, chief executive of Kindra, a line of hormone-free lotions and supplements designed to ease symptoms of menopause. The brand is the first product of a pairing between P&G's venture arm and M13, a venture-capital firm. Developed by P&G, it is a small piece of the company's plan to enlarge its health care unit, which includes expanding a portfolio of brands acquired this year from Merck KGaA of Germany. Consumers are increasingly drawn to finding their own health solutions in vitamins, supplements, and natural treatments, as traditional medical care becomes more expensive and interest grows in chemical-free remedies. Retailers have been stocking up on wellness products. Globally, consumers in 2017 spent close to $1.8 trillion on a range of wellness-related categories, including personal care, beauty, anti-aging, healthy eating, and nutrition—an approximately 4% increase from 2 years earlier, according to the Global Wellness Institute.