![]() ![]() Razor and men's skincare startups have expanded to physical retail stores. Bevel, which P&G acquired in 2018, focuses on safety razors that are tailored to work with African-American facial hair. ![]() Supply is also part of a trend of startups marketing pricier razors, which includes brands like OneBlade. Supply makes single-blade razors that it claims are more comfortable than many multi-blade options. Other razor startups have followed in Dollar Shave Club's footsteps by focusing on specific shaving niches. Unilever acquired Dollar Shave Club in 2016. One challenge for both P&G and Edgewell: The pressure from startup razor competitors hasn't abated.ĭollar Shave Club, which built its image on charging less for blades, stuck with that approach when it started selling at Walmart stores last fall, according to Jefferies analyst Kevin Grundy. Its Schick razor brand commanded about 17% of US razor sales in 2019. Gary Coombe, the CEO of P&G's global grooming business, told Insider in October that the line caters to men who want to keep their facial hair - a group the brand had previously avoided.Įdgewell is putting efforts into a relaunch of Schick Hydro as well as growing recent acquisitions such as Cremo, which sell beard and skincare products but not razors, Rod Little, Edgewell's CEO, told Insider in an interview. P&G controlled about 50% of the men's razor market with Gillette in 2019, according to Euromonitor. Procter & Gamble unveiled a new line of shaving and beard care products last year under the King C. Increasingly, the two largest razor brands in the US say that they are looking to replicate that niche, DTC-style with their grooming businesses. Its revenue forecast for 2027 is $75.8 Billion. The men's personal care market was valued at USD $47.5 billion in 2019, according to Grand View Research. Other nascent men's care brands include Lumin, which has raised $9 million for cosmetics to tackle dry skin and dark eye circles, as well as Disco, a direct-to-consumer label that has raised $2 million for products like face scrubs and moisturizers. Startups dedicated to personal care items for men outside of shaving are also gaining ground, too, according to a recent CB Insights report: Startup Bravo Sierra, which has raised $34 million, notes that its soap, sunscreen, and other products are tested by members of the US military, for example. Harry's Co-CEO Jeff Raider told Insider in November that the company was expanding the range of products it sells, including personal care goods, in the wake of its proposed deal with Edgewell. "In the past year, we've seen men's grooming expand beyond shaving with DTC brands offering products like skincare specifically designed for men," she added. "With the pandemic, many consumers are upgrading their at-home grooming routines and looking to achieve salon-quality results from home," Kenya Watson, intelligence analyst at CB Insights, told Insider. On top of these blows, shaving brands of all sizes are trying to win purchases from an increasingly large group of men who are not shaving as often as they used to - a trend that has been accelerated by the spread of coronavirus over the past year. This story is available exclusively to InsiderĪnd start reading now. ![]() In December, the FTC came out against Procter & Gamble's bid for women's shaving brand Billie. The FTC blocked Edgewell's proposed acquisition of Harry's in February 2020. But two Federal Trade Commission decisions over the past year have pushed both companies to look more seriously at other areas for growth. Razors, while still a big part of the business, are no longer the sole focus.Īs the largest razor makers in the US, Gillette and Schick have spent decades focusing on building their razor businesses, both by introducing new products and growing their shares of the market. Now, its plans for the future include shave balms, a stubble eraser, and everything else consumers use to maintain facial hair. One year ago, Edgewell Personal Care, maker of Schick, was set to create a new razor powerhouse to challenge Procter & Gamble's Gillette.
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