Harry's has earned its reputation by making the shaving process easier on men. Confronted with high prices and clunky designs from shaving titans like Gillette and Schick, the Harry's duo are trying to do with razors what Warby Parker has done with glasses. (One of the Harry's founders is a Warby Parker founder.) Its blades can be ordered without having to schlep to CVS. They're also cheap-ish: If you're a so-called occasional shaver (shaving fewer than five times a week), you can get an eight-pack of blades for $15 every three months.
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"Before we launched, there was limited choice," said Jeff Raider, the Harry's co-founder who helped start Warby Parker and a man who is practiced in the patois of a disrupter. "There were a couple of brands that dominated the market."
With its earlier investment this year (the investment is led by Tiger Global, Thrive Capital Partners, Highland Capital and Lakestar Capital), the Harry's guys actually became a tech start-up and real estate holders: They bought a factory in Feintechnik, Germany. That's where they make and manufacture their razors.
The majority (about two-thirds) of the new $75 million investment will be dedicated to expanding the footprint of the factory and hiring more employees in Germany. (Demand for their products is higher than anticipated, the founders said.) The other third will go toward stuff back on the home front: advertising campaigns, hiring a few new employees, brand awareness.
Harry's has also opened a barbershop in Manhattan. Despite the latest investment, the company does not plan to open more brick-and-mortar shops.
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As of last year, Harry's had a staff of 30 people. At the end of this year, that number is 70. By the end of next year, it expects to have a staff of 125. And if you add the employees in Germany, the number is more than 400.