(Editor’s Note: Did you know that the New Chapter brand was owned by P&G, a company famous for their animal testing? Yet another reason to always read the label!)
In 2012, P&G acquired the brand New Chapter and it’s founders- Paul and Barbi Schulick – stayed on to lead the brand. However, they recently severed their ties with the brand saying the “financial pressures to accelerate profits”1 meant they could no longer- in good conscience- continue to associate themselves with the brand.
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While the acquisition was initially profitable, after the deal with New Chapter was concluded, sales began to fall. In fact, according to the company’s 2017 annual report, top-line revenue was $74.4 billion in 2013- the last year of growth.
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And so, with profits falling, the Schulicks began to feel the squeeze and foresee a time when New Chapter’s products would “lose their innovative edge and distinctiveness.” 1 Paul said, “I still feel that herbal medicine has a major role to play in the arena of modern health care. This is understood more in other parts of the world, like Japan or Europe. The reason I stayed around so long was that I felt like we were getting close to fulfilling that dream.” 1
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Although P&G offered Paul a consultancy, he turned it down so he would be free to speak his mind about the importance of and the strength of the science behind some of their signature products.
