The study examines the evolution of Procter & Gamble‘s (P&G) strategies from 1930s to the start of the present century. It discusses in details the company’s effort to constantly evolve its brand management model in response to the changes in the external environment and customer needs and preferences. The study also examines P&G’s major brand management systems, such as concept of brand manager, the category management model, the ‘glocal’ branding strategy and finally the cohort management strategy. It also explains the rationale for a major restructuring exercise initiated by the company, called ‘Organisation 2005’, a six year long program and the distribution of brand portfolio associated with it. The study analysis the brand management system of P&G —the rationale for its changes with time, the evolution of new system and the strategies connected thereof and collates the learnings that can be applied to other companies.