Razor industry still struggling to adapt to popularity of laid-back beards

Era of beards is causing problems for razor companies, with sales falling by 5.1% over last year

Razor makers like Gillette are scrambling to find a way to survive in the age of the beard
Razor makers like Gillette are scrambling to find a way to survive in the age of the beard

The era of the beard has continued in 2018 and it could be bad news for the razor industry.

The rise of the laid-back approach to shaving, most popular among men under the age of 45, is causing some serious problems and strategic readjustments in the razor industry, CNN's Nathaniel Meyersohn reports.

"Today, men are not judged negatively when they skip a shave — it is not considered lazy or disrespectful," Massimiliano Menozzi, the vice president of Gillette North America, told the broadcaster.

The firm said studies show that the average number of times men shave per month has fallen from 3.7 to 3.2 over the last decade. That is resulting in some actual problems in the razor industry, with sales falling 5.1 per cent by June 2018 compared to the year prior.

As a result razor makers are scrambling to adjust.

Gillette staged an "intervention" last year, slashing prices by an average of 12 per cent and pushing facial-hair-maintenance tools like a beard trimmer. Edgewell, the parent company of brands like Edge, Schick, and Personna, is pushing e-commerce and relaunching its Schick Hydro brand in October. Razor start-up Harry's raised $112m (£87m) in a round of financing earlier this year to move beyond men's grooming.

There may be hope on the horizon. Edgewell CFO Rod R. Little said in a call with investors that the company is betting that due to the "cyclical nature of facial hair," the clean-shaven look should be back in due time.

However, people have been calling for the end of the Age of the Hipster Beard for years now. Perhaps it is simply time to embrace a bearded generation of millennials and see whether the razor industry adapts or dies.

Read more:

• Facebook could now lose its place as America's 2nd-biggest website in a 'paradigm shift'
• Conservative Brexit rebels will block Theresa May from crashing out of the EU without a deal
• A US cargo ship has been drifting off the coast of China for a month — and it shows the real-world effects of the trade war

Read the original article on Business Insider UK. © 2016. Follow Business Insider UK on Twitter.

Register for free to continue reading

Registration is a free and easy way to support our truly independent journalism

By registering, you will also enjoy limited access to Premium articles, exclusive newsletters, commenting, and virtual events with our leading journalists

Please enter a valid email
Please enter a valid email
Must be at least 6 characters, include an upper and lower case character and a number
Must be at least 6 characters, include an upper and lower case character and a number
Must be at least 6 characters, include an upper and lower case character and a number
Please enter your first name
Special characters aren’t allowed
Please enter a name between 1 and 40 characters
Please enter your last name
Special characters aren’t allowed
Please enter a name between 1 and 40 characters
You must be over 18 years old to register
You must be over 18 years old to register
Opt-out-policy
You can opt-out at any time by signing in to your account to manage your preferences. Each email has a link to unsubscribe.

By clicking ‘Create my account’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Already have an account? sign in

By clicking ‘Register’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Register for free to continue reading

Registration is a free and easy way to support our truly independent journalism

By registering, you will also enjoy limited access to Premium articles, exclusive newsletters, commenting, and virtual events with our leading journalists

Already have an account? sign in

By clicking ‘Register’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Join our new commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in