Schick Razor Owner to Acquire Indy Shaver for $1.4 Billion
Business daily is brought to you by Dell this month. Dell is thanking small businesses with up to forty five percent off select computers with Intel core processors. Call eight seven seven by Dell to speak with a small business. Technology advisor today that's eight seven seven B, you ideal L for tech advice and one on one partnership. From wondering, I'm David Brown, and this business wars daily on this Wednesday may fifteenth by now it's no surprise that. Big old conglomerates are worried about being upended by online upstarts which accounts for last week's news that the owner of Schick razors is spending almost one and a half billion dollars to acquire. Harry's razors a business that is only six years old Harry's cells razors for both men and women and other grooming products via subscription with less overhead than legacy brands. Harry's has been able to shrink prices, even as it offers sleekly designed products it also adopted the kind of personal relationship building marketing common to online brands these days. Now that shouldn't surprise you. Since before starting Harry's co founder Jeff raider helped launch glassmaker Worby Parker, which practically invented direct to consumer disruptors Harry's captured two percent of the three big. Million dollar razor marketing only five years, according to the market research firm Euromonitor now that might not sound like much, but it was enough to hurt chicks parent company edge will and Procter and gamble which owns razor giant Gillette. Their market shares. Sank like stones Harry's sword online startup dollarshaveclub posed an even bigger challenge than Harry's. Did the trouble for the old line packaged goods companies goes beyond the new upstart competitors? It's also that the whole shaving market is shrinking according to the online site, vox vox, blames that on the aging of the American population and says tongue in cheek when you get old you don't grow as much hair. So you don't shave as much and then you die well with razor sailed slowing Unilever, the giant consumer packaged goods company took action early three years ago. It's been a billion dollars to acquire Dollar Shave Club at the time analysts specula-. Late wrongly. It turns out that proctoring gamble might acquire Harry's. But it didn't. And now it's competitor Schick has Harry's in its grooming arsenal as FOX also points out a whole bunch of new razor rivals of jumped into the market right at the time when fewer of us care to get rid of our hair that makes for ferocious competition. Clearly Schick is taking advantage of Gillette. When Gillette is down buying Harry's. Now is just one more way to shave a few more points off Gillette's faltering lead. See what we did there shape? For wondering this business worse daily. You know, what we love it gives ratings and reviews on our podcast. So would you take a minute? And and do that it helps his findings. Thanks so much for listening. I'm David Brown will see it Amaro. Businessworld daily is brought to you by Dell. There's nothing small about your business. Your impact on the communities made a huge difference. As thank you during small business month. Dallas offering up to forty five percent off select computers with Intel core processors, plus get a free external hard drive with select PC purchases. Call eight seven seven by Dell to speak with a small business. Technology advisor today that's eight seven seven B U Y D E L L for tech advice and one on one partnership eight seven seven by Dell.