Emerging Markets Mire Package Goods In Currency-Related Losses

03/6/2002 | Advertising Age (tiered subscription model)

In the past five years, six major household and personal products firms have written off $4.3 billion in currency-related losses from such emerging markets as China and Argentina, analysts say. These companies include Avon, Colgate-Palmolive, Gillette, Clorox, Kimberly-Clark and Procter & Gamble. The losses were triggered by the countries' economic troubles, which impacted the value of the firms' local inventories and assets. Colgate-Palmolive reportedly lost half of its total book value in the last five years. But a P&G spokeswoman views currency-related losses as "a temporary challenge and setback."

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