In case you have not heard, Harry’s has been sold to Edgewell Personal Care Company in a $1,370,000,000 stock-and-cash deal.
The founders of Harry’s — Andy Katz-Matfield and Jeff Raider — will head up Edgewell’s US operations as co-presidents.
Edgewell is also the owner of Schick and Wilkinson shaving products and thus this is a strategic acquisition.
Razors, Big Red Car?
OK, Big Red Car here talking about when a successful small company competing with a bigger company attracts the attention of the bigger company and the bigger company takes action.
Big Red Car, what are you talking about?
OK, it’s about the razor business and entails three companies:
1. Dollar Shave Club (first mover in the space) — razor blade subscription service;
1. Harrys (with Warby Parker vibe) — makes their blades in Germany where they own a factory; and,
3. Gillette — which just re-launched its own subscription blade service, Gillette On Demand. Gillette is the “bigger company” of which we spoke. [Cue the ominous, dark, Darth Vader music in the background. Please.]
Each company is a little different, but at the end of the day (cliche alert) they want to get you to join a “club” so they can sell you razor blades. They will almost give you the razor itself if you will just become a faithful purchaser of their subscription based blades.
There are others in the subscription razor business, but these are the big three, y’all.
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