Edgewell’s Acquisition Of Harry’s Would Reinstate ‘Duopoly’ Harmful To Consumers – FTC Complaint
Schick owner Edgewell will not acquire upstart Harry’s if the US Federal Trade Commission has its way. According to the FTC’s complaint, the combination proposed in May 2019 “would eliminate one of the most important competitive forces in the shaving industry” that has disrupted Edgewell and P&G’s longstanding dominance of the market, to the benefit of consumers.
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One week after the FTC challenged the deal as anticompetitive, Edgewell announced on 10 February that it has terminated its merger agreement with direct-to-consumer upstart Harry’s. The firm remains focused on improving its underlying business and says its first-quarter results, posted the same day, show that its strategy is working.
P&G Grooming’s Response To Disruptor Billie? ‘Female First’ Subscription Shave Brand Will Join Venus
P&G has acknowledged that it was slow to react to direct-to-consumer threats in the men’s shave market. Perhaps intent on avoiding the same mistakes, the firm plans to acquire Billie, a subscription-based razor and body-care startup that has endeared itself to younger demographics with its affordable offerings and of-the-moment messaging.
Despite positive impacts from its Hydro 5 Sense and Intuition f.a.b. razor launches, Edgewell’s global Wet Shave business declined in the fourth quarter and full fiscal 2018. The firm remains focused on slashing costs, an effort that wasn’t helped by a Q4 charge related to REACH ingredient substitution.