Corporate Sales: $18 billion
Beauty/Personal Care Sales: $3.8 billion

Colgate-Palmolive’s Brands:

• Elta MD
• Filorga
• Irish Spring
• Palmolive
• PCA Skin
• Protex
• Sanex
• Softsoap
• Sorriso
• Speed Stick
• Lady Speed Stick
• Tahiti

New Products:

• Colgate Visible White O2 toothpaste
• Protex Pro
• Filorga Lift Structure Radiance
• Filorga Hydra-Hyal Cream
• EltaMD UV AOX Mist Broad-Spectrum SPF 40

Financial Report

Colgate-Palmolive saw its overall corporate sales climb 3% to $17.97 billion in 2022, with personal care sales accounting for 19% of that total.

Net sales in the Oral, Personal and Home Care product segment were $14,254 million in 2022, up 1% from 2021, due to net selling price increases of 9%, partially offset by volume declines of 3.5%, and negative foreign exchange of 4.5%. Organic sales in the Oral, Personal and Home Care product segment increased 5.5% in 2022. Net sales increased 3.5% in North America, 8.5% in Latin America and 3.5% in Africa/Eurasia, while, net sales decreased 10.5% in Europe and 1.5% in Asia Pacific. The increase in

Personal Care was primarily due to organic sales growth in the bar soap and underarm protection categories, partially offset by organic sales declines in the skin care category.

2022/2023 Highlights

In 2022, Colgate-Palmolive maintained its ranking as the No. 1 toothpaste company in the world. Its share of the global toothpaste market was 39.8% for full year 2022, up 0.5% share points from the previous year.

In March 2023, Colgate launched Colgate Total Plaque Pro-Release. Developed by Colgate scientists, the toothpaste offers long-lasting 24-hour antibacterial protection and is clinically proven to significantly reduce harmful plaque bacteria between dentist visits.

In April, the company announced plans to introduce a “modified cheaper” version of its recyclable toothpaste tube later this year. The new tube uses 16% less plastic and is 16% lighter. Company tests also showed it being easier to dispense from and having superior “feel in hands.”

According to Ann Tracy, Colgate-Palmolive’s chief sustainability officer, about 77% of Colgate’s toothpaste units in North America are now sold in a recycled tube, and the company aims to increase this figure to 95% by the end of 2023. The company first announced the breakthrough tube in 2020, and then modified it earlier this year, redesigning a new version.

Tracy acknowledged that studies have shown consumers may not be willing to pay more for sustainable products like toothpaste, but Colgate has nevertheless raised prices on its toothpastes, dish soaps, and pet foods to offset rising commodity and labor costs.

One of the challenges Colgate faces is ensuring consumers properly recycle the toothpaste tube and that facilities process it correctly. Tracy said that the company’s goal is to share technology to help facilities process the tube as quickly as possible. Modern recycling plants with automation can process the tube more efficiently, she added.

Looking Ahead

In a statement issued in Q2 2022, Colgate’s Noel Wallace, chairman, president and CEO, commented that the company had achieved another quarter of strong top-line momentum along with an increase in profitability. Net sales increased 7.5% and organic sales grew 8.0%.

“We believe we are well positioned to continue to drive top and bottom-line growth through the balance of 2023 as our gross margin expansion, driven by sustained pricing and the benefits from funding-the-growth and other productivity initiatives, allows us to invest behind our brands,” Wallace said.

“Our strong results this quarter and in the first half add to our confidence that we are executing the right strategies to deliver on our updated 2023 financial targets, drive cash flow and generate long-term value for our stakeholders,” he adds.

Based on current rates the company expects net sales growth to be 5% to 8% for the full year 2023. Meanwhile, the company expects organic sales growth to be 5% to 7%.

Corporate Sales: $17.4
Beauty/Personal Care Sales: $3.5 billion

Major Products/Brands: Soap, toothpaste, skincare and deodorant brands, including Elta MD, Filorga, Irish Spring, Palmolive, PCA Skin, Protex, Sanex, Softsoap, Sorriso, Speed Stick, Lady Speed Stick, Tahiti.

New Products: Filorga Time-Filler 5XP Correction Cream 50ml, Irish Spring (relaunch), EltaMD UV Daily Broad-Spectrum SPF, Softsoap Milk & Golden Honey Liquid Hand Soap.

Financial Summary:

Colgate-Palmolive saw its overall corporate sales climb 6% to $17.4 billion in 2021, with personal care sales accounting for 20% of that total.

The company’s North American net sales for the collective oral, personal care and home care category in North America decreased 1% in 2021 to $3.7 billion, driven by volume declines of 4%. Organic sales in North America decreased 2% in 2021, largely driven by the U.S. The decrease in Personal Care was primarily due to organic sales declines in the liquid hand soap and bar soap categories.

2021-2022 Highlights

Colgate-Palmolive is proud of its ranking as the No. 1 toothpaste company in the world. In Q1 of 2021, the company rolled out a revolutionary recyclable toothpaste tube to the U.S. market. Made of high-density polyethylene (HDPE), it’s the first to be recognized by external recycling authorities as recyclable.

In February 2022, Colgate-Palmolive unveiled a new and modernized design look for its Irish Spring soap brand. The green and white deodorant soap has been synonymous with “fresh and clean” since its launch in 1970 and has evolved with the addition of several companion scents and body washes.

The redesign was initiated to expand the brand’s appeal to younger, male consumers. Colgate-Palmolive’s Global Design Brand Group worked with creative agencies Chase Design Group and Tin Horse to achieve the rebrand, which was targeted to better reflect “stylish, modern masculinity.”

The design team married the new brand promise—“smell from a nice-smelling place”—with the brand’s familiar assets—a richer green Irish Spring structure, white brand mark and golden clover symbol—to create a sleek, modern look that confidently pays homage to the brand’s legacy.

In addition to appearing on traditional bar soaps and marketing collateral, the newly refreshed look is interpreted across each of the brand’s 13 body wash SKUs spanning Original Clean along with Moisture Blast, Active Scrub, Aloe Mist, 5-in-1, Charcoal Refresh, Ultimate Wakeup, Black Mint and Sage Cedar scents.

On January 27, 2022, Colgate-Pamolive’s board approved a 2022 Global Productivity Initiative, a program intended to reallocate resources toward the company’s strategic priorities and faster growth businesses, drive efficiencies in the company’s operations and streamline the company’s supply chain to reduce structural costs. Implementation of the Global Productivity Initiative is on track for completion by December 31, 2022.

Looking Ahead:

In a statement issued in Q2 2022, Colgate’s Noel Wallace, chairman, president and CEO, commented that the company achieved a 14th consecutive quarter of organic sales growth at or above their targeted range of 3% to 5%, with net sales increasing 5.5% and organic sales growing 9.0%, representing a significant acceleration versus the first quarter. “Our focus on premium innovation, brand building and digital capabilities drove broad-based organic sales growth, with growth in every division and all four of our categories, including double-digit organic sales growth in oral care and pet nutrition,” he said. “We are especially encouraged by the increase in our global toothpaste market share year to date led by share growth in the U.S. where our focus on more premium innovation is driving share gains.”

He added that significant increases in raw and packaging material and logistics costs continued during the quarter and currencies remained volatile in many parts of the world. The company continues to respond by accelerating its revenue growth management plans. “Our solid results this quarter, despite significant headwinds from raw materials, foreign exchange and the broader macro environment, demonstrate that our strategies are working,” he said. “We will continue to deliver impactful innovation that provides value to our customers and consumers as we work to offset these headwinds and deliver sustainable, profitable growth over the long term.”

Corporate Sales: $16.5 billion
Beauty/Personal Care Sales: $3.5 billion

Major Products/Brands: Colgate and Tom’s of Maine oral care products, Irish Spring soap, body washes and deodorants, Softsoap soaps and cleansers, Protex soap, Gard anti-dandruff shampoo with conditioner, Speed Stick and Lady Speed Stick antiperspirants and deodorants, Tahiti, Tender Care, Afta men’s toiletries

New Products: Colgate Zero, Hum by Colgate toothbrush, CO. by Colgate

Comments: Unlike most companies, Colgate managed to navigate through Covid with a 5% net sales increase in 2020 – the strongest the company has seen in 10 years thanks to increased investments in innovation, digital transformation, and advertising, according to CEO Noel Wallace. In fact, the company managed to post gains across its entire portfolio, in all of its global markets, led by oral care (44% of sales). Premium innovation, such as the expanded Colgate Optic White Overnight Whitening Pen, also proved successful in helping drive growth, especially in the e-commerce sector where Colgate sales grew 46% versus 2019. Palmolive and Protex hand sanitizers and increased demand for antibacterial products.

Regionally, North American sales of oral, personal and home care products climbed 9.5% to more than $3.7 billion last year, buoyed by increased toothpaste sales. Sales in Latin America dropped 5% to $3.4 billion, primarily due to unfavorable foreign exchange rates. Organic sales increased 9%, led by Brazil, Argentina, Mexico and Colombia. Organic oral care sales rose on the strength of toothpaste brands while organic personal care sales were up due to greater demand for liquid soap.

European sales grew 12% to more than $2.7 billion thanks to personal and home care sales however the Asia Pacific region saw a minor sales slip of less than 1% to $2.7 billion and a volume dip of 1.5%. Australia, New Zealand and the Philippines led the region’s organic growth despite declines in Thailand and China.

Colgate said increased demand for home and personal care products was partially offset by a decline in oral care sales, due to lower manual toothbrush sales. Sales in Africa/Eurasia were flat at $981 million. While volume rose 5% and net selling price increased 3.5%, they were offset by negative forex of 8.5%. Demand for toothpaste and toothbrushes provided a lift to oral care sales. The increase in personal care sales (21% of total sales) was attributed to gains in the bar soap, body wash and liquid hand soap categories.

Looking Ahead

Colgate-Palmolive continued its strong run into Q2 2021, with the company reporting a 9.5% increase in net sales to $4.2 billion and a 5% increase in organic sales driven by both volume growth and higher pricing. Strong performances were recorded in Africa/Eurasia (15.5%), Europe (+15%), Latin America (+12.5%) and Asia Pacific (+7.5%). North America proved challenging with sales falling 4.5% due to a decline in personal care organic sales in the U.S.

On the packaging front, in July, Colgate-Palmolive launched a new, more ecological iteration of its popular Softsoap liquid hand soap. The new Softsoap comes in tablet form with a refillable, recyclable aluminum bottle. Consumers fill the bottle with water, drop the tablet in and once the tablet is finished fizzing, it’s a usable foam hand soap. The company says the Softsoap Foaming Tablet Starter Kit uses 71% less plastic than the traditional bottle.

Corporate Sales: $15.7 billion
Personal Care Sales: $13.1 billion

Major Products/Brands:

• Irish Spring deodorants
• Softsoap and Irish Spring body washes
• Protex soap, Sanex cleansers
• Gard anti-dandruff shampoo with conditioner
• Speed Stick and Lady Speed Stick antiperspirants and deodorants
• Softsoap hand soap
• Irish Spring and Softsoap bar soaps
• Tahiti
• Tender Care
• Afta men’s toiletries
• Numerous Oral Care brands

New Products:

• Softsoap Antibacterial Liquid Hand Soap and Refill
• Irish Spring Bar and Body Wash, Hello Products

Comments: Colgate-Palmolive experienced a 1% increase in its 2019 worldwide net sales compared to 2018. Volume growth and net selling prices also increased 2.5% and 2% respectively but were partially offset by negative foreign exchange of 3.5%. The company attributed a small boost in volume to its acquisition of Filorga, which closed in September.

Combined net sales in Colgate-Palmolive’s oral, personal and home care product segments were a flat $13.1 billion in 2019. A 3.5% increase in organic sales was attributed to toothpaste in the oral care category, as well as sales of skin health, body wash, bar soap, shampoo and underarm protection products in the personal care category (partially offset by a decline in organic sales in liquid hand soap).

The company’s share of the global toothpaste market was 41.1% for full year 2019, a decrease of 0.7 share points from full year 2018. Full year 2019 market shares in toothpaste were flat in Europe and down in all other operating units versus full year 2018. North American net sales increased 2% in 2019 to $3.4 billion, as volume growth of 2% and net selling price increases of 0.5% were partially offset by negative foreign exchange of 0.5%. Organic sales in North America increased 2.5% in 2019.

Approximately 70% of Colgate-Palmolive’s net sales are generated from markets outside the U.S., with approximately 50% of net sales coming from emerging markets (Latin America, Asia [excluding Japan], Africa/Eurasia and Central Europe). In the company’s Europe region, net sales decreased 2% in 2019 to $2.4 billion, but experienced volume growth of 4% led by France, Spain and the UK.

Net sales in Asia Pacific decreased 1% in 2019 to $2.7 billion, and volume growth was 0.5% led by the Philippines, Australia and Thailand. Organic sales in Asia Pacific increased 1.5%.

Oral care represented 46% of Colgate-Palmolive’s net sales. Colgate Optic White Renewal toothpaste was launched in the U.S.

On the packaging front, Colgate-Palmolive premiered a first-of-its-kind recyclable toothpaste tube in November and pledged to share the technology with competitors. The package, which is certified by the Association of Plastic Recyclers, is made from the same plastic used to make bottles, so it recycles like a bottle and squeezes comfortably like a tube. The company’s Tom’s of Maine is debuting the first tube recognized by the Association of Plastic Recyclers.

2020 Highlights

In January, Colgate acquired Hello Products, a premium oral care brand, from Tenth Avenue Holdings for an undisclosed purchase price. Founder Craig Dubitsky and CEO Lauri Kien Kotcher will continue in their roles.

After 44 years of service, Ian Cook retired in April as executive chairman. He also served as president and CEO from 2007 to 2019, and as chairman of the board from 2009 until 2020.

And in May, it was ruled that Colgate-Palmolive must face a class action lawsuit over Tom’s of Maine’s misleading “natural” product claims.

Corporate Sales: $15.5 billion
Beauty (Personal Care) Sales: $3.1 billion

Major Products/Brands:

• Irish Spring deodorants
• Softsoap and Irish Spring body washes
• Protex soap, Sanex cleansers
• Gard anti-dandruff shampoo with conditioner
• Softsoap hand soap, Afta men’s toiletries

New Products:

• Softsoap Luminous Oil Body Wash
• Macadamia Oil & Peony
• Laboratoires Filorga Cosmétiques skin care products (acquisition)

Comments: Hamstrung by “difficult macroeconomic conditions, foreign exchange volatility and slower category growth in key markets around the world,” fiscal 2018 was a challenging year for Colgate-Palmolive. Net sales increased just 0.5% and organic sales (net sales excluding foreign exchange, acquisitions and divestments) also only grew 0.5%. With a firm hold on the top market share spot worldwide for toothpaste, oral care products gave the company its small overall boost and represented 47% of the company’s net sales, followed by personal care (20%) home care (18%) and pet nutrition (15%).

Organic sales in 2018 were flat, as increases in Oral Care and Home Care organic sales were canceled out by a decline in Personal Care organic sales. The decrease in Personal Care organic sales was due to declines in organic sales in the bar soap and underarm protection categories, which were partially offset by organic sales growth in the shower gel category.

Liquid hand soap and home care product sales contributed to North American sales growing 7.5% to more than $3.3 billion–an impressive rebound considering the market’s 2% decline in 2017. European sales also rose 4.5% (more than $2.5 billion) thanks to toothpaste/oral care volume gains in France, the UK and Italy.

Conversely, Latin America sales tumbled 7.5% to $3.6 billion in 2018, this after an increase of 6.5% in 2017. Toothpaste and bar soap sales proved to be the culprit but were partially offset by gains in manual toothbrush sales and an increase in home care product sales. Asia-Pacific sales also fell 1.5% to about $2.7 billion, due to declines in greater China and Thailand, which were partially balanced by volume gains in India and the Philippines. Sales in Africa/Eurasia also fell 1.5% to $967 million on declines in Russia, Turkey and South Africa, which were partially offset by gains in the Gulf States, where an increase in oral care sales was outpaced in declines in personal care.

News of Note in 2019

Noel Wallace, formerly president and COO, took over the helm of CEO in April, replacing Ian Cook, who had been CEO since 2005. Cook, whose tenure with Colgate-Palmolive dates back to 1976, is now the company’s executive chairman.

In June, the company made a major skincare acquisition, purchasing Laboratoires Filorga Cosmétiques, a globally distributed, French anti-aging skincare company, for $1.69 billion. Wallace said the acquisition gives Colgate “entry into the fast-growing and sizable travel retail channel, particularly in Asia.”

Looking Ahead

After joining TerraCycle’s Loop initiative to eliminate single use packaging in May, in June, Colgate debuted a first-of-its kind recyclable toothpaste tube. A product of five years of R&D, the tube will make its U.S. debut under the Tom’s of Maine banner in 2020. The company plans to fully convert to recyclable tubes by 2025, when all of its products will be in 100% recyclable packaging.

Corporate Sales: $15.5 billion
Beauty Sales (Personal Care): $2.9 billion (FY 2017 Beauty Sales: $3 billion)

Major Products/Brands:

• Colgate Baking Soda and Peroxide Whitening, Plus, Total, Optic White,
• Enamel Health, 360°, Kids, Sensitive, MaxFresh, 2in1, Sparkling White,
• Tartar Protection with Whitening, Triple Action, Ultrabrite, Wave, Wisp,
• Tom’s of Maine; Irish Spring soaps and deodorants; Softsoap;
• Protex soap; Gard anti-dandruff shampoo with conditioner;
• Speed Stick and Lady Speed Stick antiperspirants and deodorants;
• Sanex Zero% shower gels and deodorants; Tahiti; Tender Care, Afta men’s toiletries

New Products:

• Tom’s of Maine Whole Care Fluoride mouthwash
• Palmolive Gourmet shower creams
• Palmolive Aquarium
• PCA Skin and EltaMD skin care brands (acquisition)

Colgate-Palmolive, By the Numbers 

Difficult macroeconomic conditions slowed Colgate-Palmolive’s category growth worldwide and made 2017 a challenging year.

The company increased the amount it invested in advertising by 10.2% and the return was a 1.5% boost to the company’s annual net sales, with organic sales growing 1%. The company’s top net sales regions were Latin America (25%), North America (20%), Asia Pacific (18%), Europe (16%) and Africa/Eurasia (6%). By business segment, oral care contributed toward 48% of sales in 2017, followed by personal care (19%), home care (18%) and pet nutrition (15%).

CEO Ian Cook said the company’s work in identifying trends is helping to better position its existing cadre of brands and products. For example, the “naturals” trend emphasizing what’s not in a product’s formulation is well accepted in most established market segments. For toothpaste, he said Colgate Palmolive is globally represented by its Tom’s of Maine and Sanex Zero% brands. In emerging markets such as India, the company is maximizing the formulation aspects of new product launches like Colgate Cibaca Vedshakti and Colgate Swarna Vedshakti toothpastes, which are inspired by traditional Ayurvedic beliefs. Cook remarked that the company plans to roll out more natural toothpaste offerings in each of its geographic regions by mid-2018.

Beyond oral care, in December 2017 Colgate Palmolive announced two separate professional skin care brand acquisitions—PCA Skin and EltaMD—as part of the company’s forward-looking strategy to focus on its higher-margin oral care, personal care and pet nutrition businesses.

PCA Skin is a medical-grade in-office and take-home skin-care product brand, and has strong support from dermatologists, plastic surgeons and aestheticians. EltaMD is a physician-dispensed sun care brand with a unique positioning around broad-spectrum, everyday use, physician-dispensed sunscreen. Both brands turned in a combined $100 million in estimated 2017 net sales.

News of Note in 2018

Colgate-Palmolive’s Q2 update in July confirmed that the company’s challenges in the global marketplace are ongoing. Worldwide net sales topped $3.8 billion in Q2, an increase of 1.5% versus Q2 2017. Global unit volume increased 1.5%, and pricing and foreign exchange were even with the year ago period. The aforementioned professional skincare acquisitions contributed 1.0% to net sales and unit volume growth in the quarter. In North America, which represents 21% of the company’s sales, net sales increased 8%.

The company’s leadership of the global toothpaste market continued during the second quarter with its global market share dipping slightly to 42.1% year to date.

With an eye toward the future, in January, Colgate debuted a first-of-its-kind, app-enabled electronic toothbrush sold exclusively by Apple. Retailing for about $100, the Colgate Smart Electronic Toothbrush E1 with Artificial Intelligence features Bluetooth connectivity and provides users with real-time feedback about their brushing so they can take better care of their oral health.

Designed with the help of dentists, the next-gen brush features sonic vibrating technology, real-time sensors and artificial intelligence algorithms to detect brushing effectiveness in 16 zones of the mouth. It also employs Apple ResearchKit (with the user’s permission) that crowdsources toothbrushing data to get even smarter about oral care for better and faster future innovation.

Looking Ahead

This June, Colgate-Palmolive joined the Ellen MacArthur Foundation’s New Plastics Economy Initiative, which it said reflected the company’s commitment to 100% recyclability of packaging across all its product categories and its target to achieve 25% recycled content in all plastic packaging by 2025.

Corporate Sales: $15.2 billion
Beauty Sales: $3 billion (Personal Care)

Major Products/Brands: Colgate oral care products; Tom’s of Maine; Irish Spring deodorants, soaps and body washes; Softsoap; Protex soap; Gard anti-dandruff shampoo with conditioner; Speed Stick and Lady Speed Stick antiperspirants and deodorants; Afta men’s toiletries.

New Products: Colgate Total Clean-In Between, Tom’s of Maine Rapid Relief Sensitive toothpastes; Softsoap Luminous Oils and Irish Spring Signature for Men body washes; Sanex Advanced Reviva Firm.

Comments: As chairman Ian Cook put it, challenging macroeconomics, foreign exchange volatility and slowed category growth all played a significant role in Colgate-Palmolive’s 2016 fiscal year, which saw corporate sales drop 5% and unit volumes also decline 3%.

The company still enjoyed strong market shares, with Colgate leading the way with 44% of the global toothpaste market (with a small dip of just -0.3%). In fact, oral care products accounted for 47% of the company’s overall net sales, with personal care at a distant second, contributing 20% of the sales. Actual net sales in these categories (which also included home care products), however, were down a total of -6.5% from 2015 though.

Regionally, Latin America ranked as Colgate-Palmolive’s top geographic region for net sales (24%) but experienced -15% in sales due to volume declines and unfavorable foreign exchange rates. The company’s second most lucrative market was North America, which commanded 21% of net sales and provided a tidy 1.0% increase thanks to +2.5% increase in volume growth in predominantly oral care and personal care. Asia-Pacific, which comprised 18% of the company’s net sales, clocked in at -5%. Sales in Europe (16%) dipped -3% where oral care gains were offset by declines in personal care and home care sales.

Developed markets accounted for 51% of 2016 net sales, while emerging markets rounded out the remaining 49%, where organic sales grew 6.5%.
In his statement to shareholders, Cook pledged that Colgate was working harder to engage customers with integrated marketing campaigns across digital media platforms.

News of Note in 2017

Fiscal 2017 continues to be difficult for Colgate-Palmolive. In Q1, sales were even at $3.7 billion, but global unit volume fell 2%. Organic sales grew less than 1%. Cook termed the quarter as “challenging” because the company did not meet its expectations.

Q2 net sales tallied $3.8 billion, a decrease of 0.5% versus second quarter 2016. Global unit volume decreased 1.0%, pricing increased 1.0% and foreign exchange was negative 0.5%. Organic sales were even with the year ago period.

Corporate Sales: $16 billion
Beauty Sales: $10.7 billion (Personal/Oral Care)

Major Products/Brands: Oral Care—Total Advanced, Optic White, 360°, Max White; Dora the Explorer; Peroxyl oral cleanser. Personal Care—Speed Stick, Lady Speed Stick, Irish Spring deodorants; Softsoap and Irish Spring body washes; Softsoap hand soap; Irish Spring and Softsoap bar soaps; and Afta men’s toiletries.

New Products: Colgate Total Daily Repair and Colgate Kids mouthwashes, Colgate Optic White Express White toothpaste and Irish Spring Signature for Men body washes.

Comments: Chairman Ian Cook tried to put Colgate-Palmolive’s 2015 performance in a positive light, but the truth is that the foreign exchange rate hit Colgate-Palmolive hard, and right in its corporate pocketbook, causing sales to dip 7%. Volume and net selling price increases (1.5% and 3.0%, respectively) were more than offset by negative foreign exchange at -11.5%.

Colgate-Palmolive’s most prominent business is oral care. In 2015, it accounted for 47% of the company’s sales, which were +1% from 2014. Personal cares sales accounted for 20% of the corporate total, down from 21% in the previous year. The company pointed to the foreign exchange rate as the primary culprit. Interestingly though, organic sales across the Colgate Palmolive’s entire oral, personal care and home care product segment increased 4.5%.

A deeper look inside the company’s toothbrush business reveals that its global share of that market was 44.7% in 2015 and its share of the global manual toothbrush market was 34.7% for full year 2015. Its 2015 toothpaste market shares performed well in North America, Latin America, Europe/South Pacific and Africa/Eurasia but not as well in Asia in comparison to 2014.

Regionally, organic sales in North America increased 2% in 2015. The company attributed this to oral care. Personal care organic sales growth was driven by gains in the shower gel category. The U.S. comprises 25% of Colgate’s total global sales.

Latin American net sales were $4.3 billion, a decrease of 9.5%. In Europe/South Pacific, net sales fell sharply (-15.5%) to nearly $2.9 billion, as volume growth of 2% was more than offset by net selling price decreases of 3% and negative foreign exchange of 14.5%.

In Asia, net sales fell to $2.4 billion (-1.5%). Volume growth of 4% was more than offset by net selling price decreases of 1% and negative foreign exchange of 4.5%. However, organic sales in Asia grew 2.5%, as volume gains were led by the Greater China region, the Philippines and India. Colgate noted that organic sales increases were due to toothpaste and manual brush sales. Buoyed by shampoo sales, personal care sales were on the rise.

In Africa/Eurasia, foreign exchange was again to blame as sales fell 17.5%. Net selling price increases of 7.5% were more than offset by volume declines of 1.5% and negative foreign exchange of 23.5%. Organic sales in Africa/Eurasia grew 6% in 2015.

Volume declines in the Central Asia/Caucasus region and Ukraine were partially offset by volume gains in the Sub-Saharan Africa region and South Africa, according to Colgate. Organic sales rose due to strong organic sales in the toothpaste and the manual toothbrush categories.

Looking Ahead

As the company tries to steady itself for the coming year, so far, fate is not cooperating. Sales have continued to decline through the first quarter of 2016. Oral and personal care (as well as home care) sales dropped 10% to $3.5 billion.

Corporate Sales: $17.3 billion
Beauty Sales: $11.7 billion (oral care and personal care)

Major Products/Brands: Colgate, Softsoap, Speedstick, Lady Speedstick, Irish Spring, Ultrabrite, Tom’s of Maine, Afta Toiletries for Men.

New Products: Colgate Optic White, Colgate Minions Mild Bubble Fruit Toothpaste, Ultrabrite Advanced Whitening Toothpaste, Colgate Teenage Mutant Ninja Turtles Toothbrush, SoftSoap Enhancing Body Wash Skincare Collection, Lady Speed Stick Stainguard Deodorant Silky Chiffon, Irish Spring Body Wash-Moisture Blast, Tom’s of Maine Baby Sunscreen, Tom’s Intense Hydrating Body Lotion.

Comments: The global rise in the adoption of personal hygiene—from hand-washing to deodorants—has certainly been a boon to Colgate-Palmolive, which manufactures and markets a wide variety of products in the U.S. and around the world in Oral and Personal Care, including toothpaste, toothbrushes and mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants.

Together with its Pet Nutrition and Home Care divisions, worldwide net sales reached $17.3 billion in 2014, down 1.0% from 2013, as volume growth of 3.0% and net selling price increases of 2.0% were more than offset by negative foreign exchange of 6.0%. Sales of Oral (46%) and Personal Care (21%) accounted for the majority, bringing the total of the two categories to $11.7 billion.

Organic sales increased 5.0% in 2014, due primarily to an increase in Oral Care organic sales, with the toothpaste, manual toothbrush and mouthwash categories all contributing to growth. Strong sales in bar soap also boosted the bottom line.

Colgate Palmolive is acknowledged to be the global leader in Oral Care with the leading toothpaste and manual toothbrush brands throughout many parts of the world. The company competes in more than 200 countries and territories worldwide with established businesses in all regions, but approximately 80% of net sales are generated from markets outside the U.S. More than 50% is generated from emerging markets (Latin America, Asia [excluding Japan], Africa/Eurasia and Central Europe). This geographic diversity and balance help to reduce the company’s vulnerability to financial and other risks in any one region.

Geographically, Oral Care is a significant part of the company’s business in Asia, adding up to about 86% of net sales in that region in 2014.

The Oral, Personal and Home Care product segment is operated through five reportable operating segments: North America, Latin America, Europe/South Pacific, Asia and Africa/Eurasia, all of which sell to a variety of retail and wholesale customers and distributors.

Colgate is a leader in many product categories of the Personal Care market with global leadership in liquid hand soap, which it sells under the Palmolive, Protex and Softsoap brands. Colgate’s Personal Care products also include Palmolive, Sanex and Softsoap brand shower gels, Palmolive, Irish Spring and Protex bar soaps and Speed Stick, Lady Speed Stick and Sanex deodorants and antiperspirants.

The company’s share of the global toothpaste market was 44.4% for 2014 and its share of the global manual toothbrush market was 33.4% for the same period. Full year 2014 market shares in toothpaste were up in Europe/South Pacific and Africa/Eurasia and down in North America, Latin America and Asia versus full year 2013. In the manual toothbrush category, full year 2014 market shares were up in North America, Europe/South Pacific and Asia and down in Latin America and Africa/Eurasia versus full year 2013.

Brands including Softsoap and Tom’s continued their expansion into additional categories such as sun care and body wash.

Looking Ahead

The company reported strong worldwide organic sales growth for the second quarter 2015, with net sales of $4 billion, a decrease of 6.5% versus second quarter 2014. Organic sales grew 5.5%. Ian Cook, chairman, president and CEO, said they were very pleased with the “continued strong organic sales growth across all divisions.” Like many of our other Top 20, he credited the role of innovation and new product creation. Specifically, in a strong U.S. position, Colgate Total toothpaste maintained a market share of about 10%. Sales growth was led by emerging markets.