The Federal Trade Commission filed a lawsuit Monday to block Edgewell Personal Care , which owns Wilkinson Sword and Schick, from buying startup Harry's. The combination would"eliminate one of the most important competitive forces in the shaving industry," the FTC said.Edgewell announced its $1.4 billion deal to buy Harry's in Mary 2019. Harry's, along with Dollar Shave Club, has disrupted the men's razor category by selling low-priced razors online.
""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.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.
Had to switch over from Harry’s to Gillette cuz I could never get a close shave
🤔
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Interesting how easily many men got suckered into the ridiculous multi multi blade razors, and paid a grossly inflated price for the refills. A form of brain washing through marketing. Let’s not forget the environmental harmful shaving cream.
Noooo! We like Harry's!
There aren't bigger monopolies to break up?!?
What will become of Santaman? SeanClements hayesdavenport
Republican Cult 45 will feed all American men hormones probably after 2020 re-election to make them hairless and easier to manipulate
And yet JeffBezos and amazon can buy every chain they want and exploit it's workers yet they can't but another razor chain I call bullshit what about Disney buying multiple movie and art studios can't pick and choose who can have monopolies
Yes, all of our problems are caused by Big Razor
Cool.
The FTC blocks a monopoly on razors? Aren't there much bigger monopolies that should be blocked?
I'm disappointed that Harry's was even going along with this in the first place. So much for wanting to disrupt the market🙄
That's razor-sharp reporting. Where do the Kansas City Chiefs play, I don't know?
this could get bumpy
Harry’s razors are complete garbage. Gave them a try once but quickly realized it was worth it to spend the extra money on Gillette
If men grew more short beards, all this could be avoided. All you'd need then is a pair of scissors, that is until someone tried to make money online, selling a 'better' e-commerce-marketed scissor, one a month. Sigh...
Cause with everything that’s going on, this is breaking news. Cmon CNN. Be better.
But Disney can buy every movie studio.
Why?
This is duel worthy
why