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Proctor & Gamble to sell 4711-
Cologne - One of the world's most historic perfume brands, 4711, is up for sale, US-owned company Procter and Gamble confirmed Wednesday in the German city of Cologne.
The company had decided for 'strategic reasons' to drop the brand and the ornate, white, four-storey 4711 shop that is a tourist attraction in the heart of Cologne, spokeswoman Petra Popall said.
A new investor had not yet been found. The asking price was not disclosed.
She said Procter and Gamble aimed to retain its perfume-making factory. The company employs 900 people in Cologne, the city where eau de Cologne fragrance was invented at the beginning of the 18th century.
The 4711 brand, pronounced four-seven-eleven, is derived from the shop's number in a 19th century numbering scheme of city buildings and was registered in 1875, according to the company website, but advertising has often hinted that it has a magic meaning.
The fragrance of citrus fruits underlaid with lavender and rosemary was a scent of feminine luxury for decades worldwide, but exports from Germany have declined and the perfume is mainly associated today with elderly ladies.
'We are a global company and our strategy is to concentrate on global brands,' said Popall. Procter and Gamble did not see global potential in its eau de Cologne brands, but believed a new owner could continue the business profitably.
The brand was acquired in 1994 by the Wella haircare company of Germany, which was later taken over by Procter and Gamble.
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