Rise of a Major International Corporation

Procter & Gamble was established as a partnership between William Procter and James Gamble, who sought to combine their resources and expertise in the soap and candle industry. The company quickly gained traction, achieving sales of $1 million within a few years of its founding. The American Civil War provided a significant boost to the company as it secured contracts to supply the Union Army with essential products such as soap and candles. This not only increased their profits but also solidified their reputation as a reliable supplier during a time of national need. By the time the company reached the early 20th century, it had expanded its workforce to around 80 employees and diversified its product offerings beyond just soap and candles. By the early 1920s, Procter & Gamble had evolved into a major international corporation, recognized for its wide range of products including soaps, toiletries, and food items. The company’s annual advertising budget had grown to $1 million, reflecting its commitment to marketing and brand development. This strategic focus on advertising helped Procter & Gamble establish a strong presence in the consumer goods market, allowing it to compete effectively with other companies. The growth trajectory of Procter & Gamble illustrates the impact of strategic partnerships, wartime contracts, and effective marketing on the development of a small business into a global powerhouse in the consumer goods industry.