What The Harry’s Acquisition Means For Retailers
When Edgewell Personal Care Company, which runs shaving brands Schick, Wilkinson Sword, Edge, Personna and Skintimate, snapped up grooming brand Harry’s last week for almost $1.4 billion dollars, it was just the latest consumer products giant to turn to a venture capital-backed, direct-to-consumer startup to expand its lineup. The move follows Unilever’s billion-dollar acquisition of Dollar Shave Club three years ago. Procter & Gamble has had similar acquisitions — last December of Walker & Company Brands (a startup focused on grooming and hair care for people of color, including shaving brand Bevel), in February 2018 of New Zealand DTC skin care brand Snowberry and in November 2017 of natural deodorant company Native, all for undisclosed amounts at the time. Native, which raised only $500,000 in venture capital funding, sold for $100 million, according to Pitchbook data. (Unilever is also rumored to be mulling another $1 billion purchase, this time of skin care brand Drunk Elephant.) Read more at Retail Dive.
