PG · 10-Q · 2026Q1 · Full report

Skin care premiumization

PROCTER & GAMBLE Co · 2026-04-24 · Importance 45 · Surprise 50

Skin Care net sales grew high single digits driven by favorable product mix primarily from the super-premium SK-II brand, which carries higher than category-average selling prices, aided by unit volume increases and FX. Management attributes part of the performance to innovation in North America and Asia Pacific, while noting competitive activity constrained volumes in Greater China and required merchandising investments. Organic growth in Skin Care was strong in Asia Pacific (>20% in the quarter) while Skin Care global market share declined modestly. Premiumization (SK-II growth) is explicitly cited as a driver of higher ASPs and favorable mix for the segment.

Key facts

• Skin Care net sales growth was driven by favorable product mix due primarily to the increase of the super-premium SK-II brand which has higher than category-average selling prices. source
• Global market share of Skin Care category decreased 0.8 points for the three months ended March 31, 2026 and decreased 0.7 points for the nine months ended March 31, 2026. source