Procter & Gamble's (PG) China strategy (3Q05 conf call quotes)

Consumer products giant Procter and Gamble (ticker: PG) reported Q3 2005 results in late April. Here are key quotes attributed to Chairman and CEO Alan Lafley, CFO Clayton Daley and Treasurer John Goodwin from the company's earnings results conference call:

On Crest toothpaste's market share in China

....Crest's past three-month value share is now over 26%, up 7 points versus the prior year.

On P&G's laundry business in China

....we can now see ourselves with a real shot at becoming the leader in the local market, and the leader in the local market has been a Chinese brand from the beginning.

On how P&G will help recent acquisition Gillette in China

....we're going to be able to get Gillette products a lot more reach, a lot more distribution in front of a lot more consumers.

On P&G's baby diaper strategy

....we've just started a very interesting small test of a dramatically new and very affordable baby diaper in China.

I mentioned cloth is our biggest competitor in developing markets; we are very hopeful that this will enable a lot of moms in developing markets to be able to afford disposable diapers. We've got it priced, you know, I can't remember exactly but I want to say around $0.10 to $0.11 a diaper, which is starting to get pretty close to the price of an egg in the open market. We feel. if we can get it to the price of an egg which she buys daily, then it might be a product that she could afford to buy for her baby and use daily.

(Quotes are from the CCBN StreetEvents transcript.)