“We are pleased that our stepped up advertising investment is indeed contributing to the acceleration of top-line growth worldwide,” said chairman, president and CEO Ian Cook. “This growth was driven by healthy volume increases across Latin America, North America and Europe.”
Cook said advertising investment increased both absolutely and as a percent to sales versus third quarter 2016 across every operating division, and this increased level of spending should continue over the balance of the year in support of new products, base businesses and longer-term consumption-building activities.
Colgate’s leadership in the global toothpaste market continued during the quarter with global market share now at 43.5% year to date. Global leadership in manual toothbrushes also continued with Colgate’s global market share in that category now at 32.6% year to date.
Building on the company’s successful implementation of the Global Growth and Efficiency Program, on Oct. 26, 2017, the board approved an expansion of the global growth and efficiency program and an extension of the program through Dec. 31, 2019 to take advantage of additional opportunities to streamline operations.
In the US, Colgate maintained its leadership in the toothpaste category during the quarter with market share at 35.5%. Successful new products included Colgate Total Clean-In-Between, Colgate Optic White Beauty Radiant, Colgate Sensitive Smart White and Tom’s of Maine Rapid Relief Sensitive toothpastes. In manual toothbrushes, Colgate maintained its brand market leadership in the US with its market share in that category at 40.7% year-to-date, driven by the success of Colgate Total 360° 4 Zone manual toothbrush.
New products succeeding in other categories included Colgate Total Advanced Health mouthwash, Softsoap Hand Wash Plus Lotion, Softsoap Honey Creme & Lavender and Jasmine and Plum body washes and Irish Spring Pure Fresh body wash, according to the company.