Olay is an independent company.

Global mass-market skincare brand launched in South Africa in 1952 by chemist Graham Wulff, originally named Oil of Olay. The brand's signature pink moisturising fluid was one of the first mass-market products to address skin aging and became a globally recognised everyday moisturiser.

The brand was acquired by Richardson-Vicks (later Vicks) in 1970, which was then acquired by Procter & Gamble in 1985. Olay is Procter & Gamble's largest skincare brand by revenue.