Dollar Shave Club Sells to Unilever for $1 Billion
Yesterday, Dollar Shave Club, a subscription-based retail startup built on the idea of inexpensive razors, was acquired by Unilever. The European consumer goods giant purchased Dollar Shave Club in an all-cash deal for around $1 billion (yes, you read that correctly), according to The New York Times. With the acquisition, Unilever — which own brands from Axe body spray to Lipton Tea — will now be a key player within the $3 billion shaving market.
Total Retail's Take: Who knew one viral YouTube video featuring a forklift, bear costume and throwing razors around a room would lead to this. It just goes to show you how smart a move this is for Dollar Shave Club. As other subscription commerce companies struggle, Dollar Shave Club was able to strike a very lucrative deal. I'm looking forward to seeing what this merger brings going forward.