Procter & Gamble has finally thrown in the towel and decided to scrap fat substitute Olestra as a consumer brand and Olay make-up after they failed to take off. The Olay skincare range will continue, but the make-up will go. The company has taken out a $50m charge to axe Olestra as a consumer brand, although it will still be used for Pepsi's Frito-Lay snacks and in other selected products as an ingredient. Chief executive Alan Lafley said P&G would scrap underperforming or failing brands far more rapidly in future, irrespective of the marketing spend put behind them. {{NEWS }}

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