The New York Times this morning reports that Edgewell Personal Care, the company that owns the Schick and Wilkinson razor brands, is acquiring Harry’s, the shaving business disruptor for $1.37 billion in stock and cash.
It is, the Times writes, “one of the largest recent examples an established business buying a younger, nimbler competitor born of the internet and predicated on reaching consumers in new ways. That has included deals like Unilever buying Dollar Shave Club, the other shaving start-up sensation, for $1 billion three years ago, as well as Walmart acquiring the online men’s wear purveyor Bonobos for about $310 million.”
In addition to selling razors, face washes and lotions online, as well as Flamingo women’s grooming products and the Hims hair-loss prevention brand, Harry’s also owns - and has made a big deal of it - the German factory where its razor blades are made.
According to the Times, “executives from Edgewell and Harry’s said in an interview that they saw a chance to form a big, new consumer products company infused with both global reach and new ways of marketing to customers.”
It was a little less than three years ago that Unilever acquired Dollar Shave Club, a Harry’s competitor, for $1 billion.
It is, the Times writes, “one of the largest recent examples an established business buying a younger, nimbler competitor born of the internet and predicated on reaching consumers in new ways. That has included deals like Unilever buying Dollar Shave Club, the other shaving start-up sensation, for $1 billion three years ago, as well as Walmart acquiring the online men’s wear purveyor Bonobos for about $310 million.”
In addition to selling razors, face washes and lotions online, as well as Flamingo women’s grooming products and the Hims hair-loss prevention brand, Harry’s also owns - and has made a big deal of it - the German factory where its razor blades are made.
According to the Times, “executives from Edgewell and Harry’s said in an interview that they saw a chance to form a big, new consumer products company infused with both global reach and new ways of marketing to customers.”
It was a little less than three years ago that Unilever acquired Dollar Shave Club, a Harry’s competitor, for $1 billion.
- KC's View:
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This makes a lot of sense, especially if Edgewell is able to take advantage of Harry’s business model to create an effective omnichannel strategy.
They may not be able to take down Gillette, but this is not the kind of move that is going to gladden the hearts of the folks in Boston.
