Unilever Buys Dollar Shave Club for $1 Billion, Opening New Front Against P&G
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Unilever has agreed to buy the Dollar Shave Club subscription grooming service for a whopping $1 billion, giving the world’s second biggest ad spender an entry into one of the most profitable segments of personal care, and Dollar Shave Club a platform for global expansion.
The deal puts Unilever even more in competition with its long-time rival Procter & Gamble Co., whose Gillette brand still dominates men’s shaving globally and in the U.S., with a roughly 80% share of razor cartridges sold in stores in the U.S., according to Nielsen data from Deutsche Bank.
Michael Dubin, founder and CEO of Dollar Shave Club, will stay on as CEO, Unilever said in an announcement. Dollar Shave had an unnamed “strategic investor” in venture funding, one that turned out to be Unilever.
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