Edgewell Without Harry’s: Strategic Path Remains The Same, Just A Longer Road Now
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.
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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.
As of 5 February, the Scientific Committee on Consumer Safety is evaluating use of titanium dioxide – now officially classified as a Category 2 carcinogen in the EU – in cosmetic products that can expose consumers by way of inhalation. Without a favorable SCCS opinion, the ingredient’s use in those contexts will be banned under Article 15 of the Cosmetics Regulation.
Successfully acquired by Colgate-Palmolive on 31 January, Hello quickly made a statement with the launch of a CBD oral-care range and its first go at lip care, CBD Vegan Lip Balm. Available exclusively through Ulta Beauty, the CBD products have the potential to score well with younger consumers interested in natural ingredients, eco-friendly packaging and, of course, cannabis-based innovations.