Hair removers and car washes may not seem like obvious links, but for Procter & Gamble, they represent new opportunities to generate growth. In recent weeks, the company received approval to market a new hair removal device and announced that it will open a new car wash near its headquarters in Cincinnati. They’re both small parts in P&G’s plan to become less reliant on beauty, home and health care and build a more balanced portfolio. The light-based hair removal device developed by...