Procter & Gamble Is Following Its Nose

Max Factor and Betrix make it a global force in cosmetics

Procter & Gamble Chairman Edwin L. Artzt knew he had a nice new business in Navy. The mass-market fragrance, launched by Noxell Corp. just as P&G was acquiring it in late 1989, was a first entry into that business for both companies, and a successful one at that. However, "I was not sure whether Navy was an accident or not," Artzt says. "Was it a lucky hit, or do we know what we're doing?"

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