July 21, 2016 0 Comments
Unilever has reportedly agreed to acquire subscription service Dollar Shave Club for $1 billion. Dollar Shave Club is the popular LA-based membership service that delivers affordable fresh razors to customers by mail. According to analysts, the move provides Unilever with a foothold in the competitive shaving market, which is traditionally dominated by Gillette, a brand owned by rival Procter & Gamble. While it is reported that Gillette enjoys a 65% global market share, the acquisition will give Unilever a chance to further expand Dollar Shave Club’s growing millennial market. Currently, the startup has three million online customers and is the clear winner in the digital realm with more than 58,000 followers on Instagram and 2.8 million likes on its Facebook page.
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