The men's personal care industry is predicted to hit $166 billion by 2022, according to Allied Market Research. Last year, men's skin-care products alone saw a more than 7% jump in sales, according to market researcher NPD Group.
Edgewell's deal is the latest in a string of acquisitions that larger consumer and retail companies have made to spur growth and take advantage of the data that digitally launched brands have gathered on consumers.
Edgewell Personal Care, the owner of Schick and Wilkinson razor brands, plans to buy U.S.-based shaving startup Harry's for $1.37 billion in a cash-and-stock deal.
Bed Bath & Beyond laid off nearly 150 of its 65,000 employees this week, as more shoppers shift their spending online, a person familiar with the situation told CNBC.
The under-the-radar investors, and limited size of their bets, indicates the unclear path to salvation for Bed Bath & Beyond. Nearly every product the company sells, from linens to towels to cookware can be found online.
Armed with $112 million in new financing, the online startup that took on razor giants Gillette and Schick with its direct-to-consumer subscription model is investigating what other sleepy products might be ripe for disruption.