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Gillette has lowered prices to battle budget brands such as Unilever’s Dollar Shave Club and Harry’s in recent years, but its latest gambit goes way upscale. GilletteLabs has begun an Indiegogo project to back a new heated razor system at the “discounted” price of $124 (down from the $169 list price for early adopters).
It’s not the first time P&G or other well-heeled CPG brands have tried crowdfunding. And it’s not the first heated razor system to do so either. Startup SmartRazor took to Kickstarter in 2016 to back its heated razor and aims for a broad rollout early next year, says CEO Lou Tomassetti. “SmartRazors are coming, and nothing will stop us,” he says. Gillette’s Indiegogo funders should get their shipments in February. This could become the first new system Gillette has rolled out broadly to the general market since just after Procter & Gamble Co. bought the brand 13 years ago. That’s not counting Treo, a system for caregivers to shave the people they care for, launched in 2016. Prior to that, Gillette had introduced major systems every eight to 10 years since the 1980s.
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