Procter & Gamble India (P&G India), the parent company of brands including Gillette, Whisper, and Vicks, announced a 300 crore ‘P&G Supply Chain Catalyst Fund’ on Thursday. The fund aims to collaborate with third-party corporations and startups to co-develop solutions for a modern supply chain ecosystem.
According to a business release, the investment focuses on many factors, including supply chain optimization and digitalization, capacity development, and sustainability, as the firm tries to revitalize its supply chain.
“With the ‘P&G Supply Chain Catalyst’ fund, we are focused on co-creating innovative solutions that enhance the very backbone of our operations – the supply chain. We are confident that focused interventions in the supply chain will have a positive impact on our overall priorities including constructive disruption and productivity,” LV Vaidyanathan, CEO, of P&G India sub-continent, said in a statement on Thursday.
“With this fund, we have committed spends of more than ₹1800 crore to date in business solutions through vGROW. We strongly believe that a healthy dissatisfaction with the status quo will help us raise the bar on constructive disruption and better serve consumers, customers, and communities,” he said.
The fund is part of P&G India’s six-year-old ‘vGROW’ initiative, which seeks collaborations with startups, small businesses, individuals, and more significant organizations to provide business solutions applicable to P&G’s operations in India. The plan has so far resulted in investments totaling Rs. 1,800 crore.
P&G connects with nearly 2,300 suppliers via the vGROW platform, including startups, small companies, and major organizations from a diverse variety of sectors and services, from creative agencies to technology partners to material suppliers. For example, the firm established a 200 crore ‘P&G Technovate Fund last year to tackle business difficulties via the use of technology in conjunction with current and new external suppliers.
P&G’s FMCG business in India is divided into three divisions: P&G Hygiene Health Care (feminine hygiene and Vicks), Gillette India, and P&G Home Products (detergents, infant care, hair care, and air care). P&G Hygiene Health Care and Gillette India are both publicly traded companies.
Vicks, Ariel, Tide, Whisper, Gillette, AmbiPur, Pampers, Pantene, Oral-B, Head & Shoulders, and more brands are part of P&G’s India portfolio.
P&G India employs about 4,000 people. The firm has a $1.9 billion turnover and provides less than 2% of P&G’s worldwide sales. The “India Middle East Africa” geographical will contribute to 6% of P&G’s net sales in 2022.
