The shaving market has long been dominated by Procter & Gamble, which makes Gillette brand razors, and Edgewell, which makes Wilkinson Sword and many private label razors. Harry's razors come in two styles—Truman and Winston. Most stock quote data provided by BATS. Then it hit a roadblock. The blade cartridge looks familiar—like the competition, the large head has five blades fairly close together. By bringing the disruptive Harry’s under Edgewell’s control, the complaint alleges, the proposed acquisition would eliminate important and growing competition among suppliers of wet shave razors, and would inflict significant harm on consumers of razors across the United States. Edgewell CEO Rod Little previously said Harry's isn't profitable, which gave investors pause and sent Edgewell's stock lower when the announcement was made in May. I wish Harry’s would have kept their original design, and just added the trimming edge blade at the top of the razor. Razor blades designed for smooth shaving. The market was shaken up by the entry of Harry's and Dollar Shave Club — bought by Unilever in 2016 — with their online-focused businesses. So I bought Harry's razor. As the 2010s progressed, P&G and Edgewell raised their prices ever higher. The deal was originally set to close in early 2020. New York (CNN Business) Harry's was about to be absorbed by one of the world's largest razor companies. The main goal of Harry’s is to offer shaving products at an honest price. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC 2018 and/or its affiliates. In a statement, an FTC official said Edgewell's purchase of the two brands would cause "serious harm to consumers.". 3. We want to hear from you. The FTC said in a press release that Harry's is an independent competitor and its loss "would remove a critical disruptive rival that has driven down prices and spurred innovation in an industry that was previously dominated by two main suppliers, one of whom is the acquirer.". Truman sports the basic handle, which is offered free to new subscribers, while Winston is … New York (CNN Business)Harry's Razors was about to be swallowed up by one its larger rivals. “Harry’s is a uniquely disruptive competitor in the wet shave market,” Daniel Francis, deputy director of the FTC’s Bureau of Competition, said in a statement. Updated 12:13 PM ET, Mon February 3, 2020. By contrast, investors are pleased with the FTC's suit Monday because the stock is 8% higher. The agency said Harry's has lowered prices on products produced by Edgewell and P&G, providing "significant benefits" for consumers. "Harry's is a uniquely disruptive competitor in the wet shave market, and it has forced its rivals to offer lower prices, and more options, to consumers across the country," said Daniel Francis, deputy director of the FTC's Bureau of Competition in a statement. Get this delivered to your inbox, and more info about our products and services. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Razor manufacturers enjoyed exceptionally high margins, while consumers suffered. But earlier this month the FTC announced it would file a lawsuit to block Edgewell's plan to buy Harry's, saying it promised "serious harm to consumers". All rights reserved. ... Edgewell said the FTC's lawsuit … A Division of NBCUniversal. These Georgia voters are mired in misinformation. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. The Federal Trade Commission filed a lawsuit … New York (CNN Business)Harry's was about to be absorbed by one of the world's largest razor companies. Dollar Shave Club's mid-tier blades cost $1.50 too. Data is a real-time snapshot *Data is delayed at least 15 minutes. Is it possible? Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. Harry's "Winston" razor. The Federal Trade Commission has filed a lawsuit to block the sale of shaving startup Harry’s by Edgewell Personal Care, the maker of Schick razors. How pricey razors led to innovation in men's grooming, Tucker Carlson claims vaccine campaign 'feels false, because it is', How the vaccine gets from the lab to your arm, McDonald's is putting cameras in dumpsters. Then it hit a roadblock. The Truman set costs $15, and the Winston set is $25. Harry's is great for advice, no sales pressure great company to deal with. Harry’s costs more for less quality (but it does have a magazine). Our longstanding favorite in this field, Harry's Winston razor has … © 2020 CNBC LLC. Got a confidential news tip? All rights reserved. Now, some may not vote, announced its $1.4 billion deal to buy Harry's in Mary 2019. You deserve quality men’s grooming products at a fair price. All times are ET. Edgewell said privately owned Harry's intended to pursue litigation against it. All Rights Reserved. Harry's Razors for Men - Men's Razor Set with 3 Razor Blade Refills, Travel Blade Cover, 4 oz Shave Gel (Bright Orange) 4.6 out of 5 stars 3,107 #1 Best Seller in Men's Razor Systems Harry's rivals have been bought by larger companies in the past few years. Harry's created Flamingo in 2018, which makes products aimed at women. The blades are where the Harry's razor really shines. Only two months after launching Harry's in 2013, Raider recalls, razor maker Gillette slammed the company with a lawsuit, alleging it had stolen Gillette's patent. "We are disappointed by the FTC's decision and continue to disagree with its position," Chief Executive Officer Rod Little said in a statement. Here's why, The Rockefeller Foundation -- founded on oil money -- is dropping fossil fuels, Disney workers used to make magic, now they struggle to make ends meet, See Walmart's self-driving delivery trucks in action, These restaurant owners don't know how long they can hang on, This vegan restaurant is actually opening locations during the pandemic, Fox News' Geraldo Rivera spars over election fraud claims: 'Stop this! Now men's razor brand Harry's is following suit in a big way. Factset: FactSet Research Systems Inc.2018. I am soon going to try DSC’s top line razor and see how it holds up against Gillette’s. Each cartridge features 5 German blades, a flex hinge, a lubricating strip, and a precision trimmer. Harry's is "disappointed" with the FTC's decision and is "evaluating the best path forward," according to a statement that the company sent to CNN Business. The original Harry’s razor cartridge wasn’t as flexible as the newer cartridge, and it worked much better. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Biden's economic plan is bold. Morningstar: Copyright 2018 Morningstar, Inc. All Rights Reserved. But on Monday, the purchase was suddenly dropped. High margins, while consumers suffered, they just don’t work as well as the old blades Harry... 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