Harry’s Inc., the company that brought us Harry’s Razors, is looking to expand. They have a growing market share and $112 million in new financing to do it.
Jeff Raider, co-founder of Harry’s, Inc. said that they’re building a consumer goods company for the next generation. In regard to the company’s strategy, he said, “It might be better products, a better experience getting the products or a brand that appeals to who they want to be as people.”
The Market
A decade ago, Gillette earned 70 percent of the market for disposable razors. Its founder, King C. Gillette, invented the disposable safety razor nearly 120 years ago. But last year, their market share was only 50 percent.
Schick also lost sales, reporting a 3.6 percent drop last year.
What changed? First, more men are growing their beards. Author Christopher Oldstone-Moore notes in his book, “Beards and Men,” that disposable razors “provided the tools for middle-class mobility, enabling the common man to meet the exacting grooming standards approved by corporate bosses.”
