Procter & Gamble has launched an Internet business to sell gift packages containing a variety of its brands for less than $25 (&£15).
MoreThanACard.com, which launched last week, has been set up by P&G’s Corporate New Ventures group (CNV), which is charged with identifying and developing major new global businesses that do not clearly fit within the scope of P&G’s current strategic business units.
Online customers can purchase themed packages of P&G goods to be sent as gifts for occasions such as new baby, new house and new pet.
Premium P&G products such as Febreze fabric conditioner, Physique and Pantene Pro-V shampoo, Secret deodorant and Oil of Olay beauty products are packed with non-P&G items such as phonecards, bath puffs and fragrance candles.
P&G CNV new business development group general manager Craig Wynett says: “The potential market for gifts under $25 is more than $30bn (&£20bn). By reshaping the way we think and by re-defining our market with no incremental investment, we’ve literally created something out of nothing in MoreThanACard.com.”
At the end of last year P&G launched a standalone beautycare Internet business called Reflect.com with a &£31.5m investment backed by Silicon Valley venture capitalists Institutional Venture Partners.
Alan G Lafley, who took over from Durk Jager as P&G chairman, president and chief executive last week, helped set up Reflect.com as its interim chief executive.