As we previously reported, despite performing well in other areas, Procter & Gamble reported a net loss of $5.24 billion thanks to the $8 billion Gillette writedown.
According to Summit News, this led many to assert that the company was being punished by consumers for an ad earlier this year that took on ‘toxic masculinity’ by pandering to the #MeToo movement and suggested men need to be taught to not sexually harass women.
As a response, Gillette’s CEO and president, Gary Coombe, says that angering some consumers with its #metoo campaign was a “price worth paying” if it meant the brand could increase its relevance among younger consumers and turn around its falling market share. “I don’t enjoy that some people were offended by the film and upset at the brand as a consequence,” said Coombe. “That’s not nice and goes against every ounce of training I’ve had in this industry over a third of a century. But I am absolutely of the view now that for the majority of people to fall more deeply in love with today’s brands you have to risk upsetting a small minority and that’s what we’ve done.”
Brand people out there, what are your thoughts about this?