September 4, 2013 / 2:26 PM / 4 years ago

P&G to introduce lower-priced Tide detergent in U.S.

Sept 4 (Reuters) - Procter & Gamble Co is launching a lower-priced “Tide Simply Clean” liquid detergent for U.S. shoppers, but it is “not very interesting” to current Tide users, Chief Executive A.G. Lafley said on Wednesday.

Lafley said P&G does not expect the new, lower-priced version to pull current Tide users away from the premium-priced detergent. Tide Simply Clean is “not very interesting” to current Tide users, Lafley said during a Barclays conference that was also webcast.

The world’s largest household products company faces competition in the lower-priced laundry category from competitors Church & Dwight Co Inc’s Arm & Hammer and Xtra. P&G tried a few years ago to appeal to budget-conscious shoppers with a powder detergent called Tide Basic. It was pulled from stores in 2010 after testing.

P&G already sells Tide powder, liquid and Tide Pods capsules. Its Cheer, Era and Gain detergents are geared toward budget-conscious consumers.

Some details of the company’s Tide plans were reported by the Wall Street Journal.

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