P&G picks up The Art of Shaving
This article was originally published in The Rose Sheet
Executive Summary
Acquisition of high-end men's shaving brand The Art of Shaving is in line with Procter & Gamble's strategy "to build the world's premier male grooming company," firm says June 3. Since its founding in 1996 by Eric Malka and Myriam Zaoui, The Art of Shaving has grown from a niche brand with one Manhattan store to "the world's leading premium shaving brand," according to P&G. Along with brand's best-selling presence in prestige department stores such as Nordstrom and Saks Fifth Avenue, P&G gains namesake chain of 36 retail shops. "The Art of Shaving is an excellent strategic match for P&G, building our global leadership in men's grooming and broadening our portfolio to reach high-end male consumers," says Chip Bergh, group president, global male grooming, P&G Beauty & Grooming. P&G's relationship with The Art of Shaving traces back to 2007 launch of co-developed Fusion Chrome Collection, chrome-handled versions of Gillette Fusion power and manual razors (1"The Rose Sheet" Oct. 15, 2007, p. 7). P&G's male grooming portfolio also includes Old Spice and Braun