Think online shaving clubs are all wet? Here’s a new option
The Wet Shaving Club is taking a swipe at Harry’s Inc. and Dollar Shave Club.
The new direct-to-consumer online men’s grooming retailer offers customers the chance to purchase shaving products in bulk, without signing up for a subscription service. The retailer also promotes itself as offering an alternative for fans of the dry shaving method, which uses an electric razor.
Wet Shaving Club customers have the option of purchasing the “Vintage Safety Razor Package,” a premium safety razor and a one-year supply of safety razor blades, for $24.99. More expensive packages are also available for higher-quality razors with a one-year blade supply. According to the retailer, its safety razors can cost as much as 48% less than the Dollar Shave Club and up to 74% less than Harry’s Razors.
The online shaving market is seen as holding a lot of profit potential. Edgewell Personal Care Company, owner of the Schick and Wilkinson razor brands, recently purchased online shaving products retailer Harry’s Inc. in a mostly cash and stock transaction that values the brand at $1.37 billion. The Harry’s acquisition is the second billion-dollar acquisition of a shaving startup. In 2016, Unilever’s purchased Dollar Shave Club for $1 billion.
The men’s grooming industry is expected to reach $78.6 billion globally by 2023, up from $57.7 billion in 2017, according to a ResearchAndMarkets.com report.