P&G-Gillette deal to create beauty "juggernaut"

Procter & Gamble's move to buy Gillette is seen by some as confirmation that the consumer products giant expects future growth to come from personal grooming products rather than household commodities. P&G CEO A.G. Lafley believes his company's marketing brain trust can do for Gillette's line of men's grooming products what it did for its own Olay face creams and Crest Whitestrips -- make the mundane glamorous. "We believe we can ... create a juggernaut," said Gillette CEO James Kilts, who will become vice chairman of P&G under terms of the deal.

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