P&G Europe President Says Company's Supply Chain Needs to Diversify From China
May 23 2022 - 6:20AM
Dow Jones News
By Jing Yang
Procter & Gamble Co. is looking at re-regionalizing its
supply chain and making more than 90% of goods sold in Europe
produced in Europe, P&G Europe President Loic Tassel said at
the World Economic Forum in Davos on Monday.
"The price to pay, the time to wait to get some of our products
from China to Europe is not compatible anymore with our industry
that's called FMCG (fast-moving consumer goods). F stands for fast.
If your container is stuck in Shanghai, it is not fast moving
anymore," he said
He added that he sees this as a trend lasting beyond the next
wave of the Covid-19 crisis "till the end of this decade."
Write to Jing Yang at Jing.Yang@wsj.com
(END) Dow Jones Newswires
May 23, 2022 06:05 ET (10:05 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Procter and Gamble (NYSE:PG)
Historical Stock Chart
From Apr 2024 to May 2024
Procter and Gamble (NYSE:PG)
Historical Stock Chart
From May 2023 to May 2024
