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How Dollar Shave Club Taught a $1 Billion Lesson in Disruption
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Disruption keeps company leaders up at night. Dollar Shave Club taught Proctor & Gamble a $1 billion lesson in disruption this week.
5 years ago nobody had ever heard of Dollar Shave Club. Most people who first heard the idea mocked it. But this week Unilever acquired Dollar Shave Club for $1 billion, teaching us all a huge lesson in disruption and change.
Unilever is the third-largest consumer goods company in the world, employing over 172,000 people. They own big name brands like Dove, TRESemme, Vaseline, Lipton, Ben & Jerry's and many more. Unilever battles for store shelf space against Proctor & Gamble and Colgate Palmolive every day.
Until this week Unilever was a little player in the highly competitive (and profitable) men's razor market. That all changed with the purchase of Dollar Shave Club. Now Unilever becomes a solid competitor in men's razors. They also gain a major foothold for direct-selling their other products to 3.2 million Dollar Shave Club Members.
The big losers in this deal are the folks at Gillette (owned by Proctor & Gamble). They are scratching their heads about how their business could be so completely disrupted - in a market they completely dominated just 5 short years ago. Dollar Shave Club “was probably on the radar, but we weren’t necessarily having the right conversation around what might disrupt us,” a P&G Executive told the WSJ.
Dollar Shave Club began operations in 2011, but they didn't really start gaining steam until they released this video in 2012. |
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