In this Friday, June 15, 2018, photo, co-founders and co-CEOs of Harry’s Inc., Jeff Raider, left, and Andy Katz-Mayfield speak during an interview with The Associated Press at company headquarters in New York. 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. (AP Photo/Mary Altaffer)What do you hate shopping for? Toothpaste? Diaper rash cream? Sunscreen? The guys who founded Harry’s shaving club spend a lot time thinking about this question.
The startup, which took on razor giants Gillette and Schick with its direct-to-consumer subscription model, has since expanded into traditional retail and launched a line of body care products. Armed with $112 million in new financing to develop new brands, the company now is investigating what other sleepy products might be ripe for disruption.
“Our vision is to build a next-generation consumer brand company,” said Jeff Raider, who recently took on the role of CEO of Harry’s Labs, overseeing the development of new brands. “It might be better products, a better experience getting the products or a brand that appeals to who they want to be as people.”
There’s a reason why Harry’s investors are betting that reinventing the razor was no flash-in-the-pan idea. Insurgent brands are shaking up the way people buy everything from mattresses to prescription acne remedies, eating into the market share of big consumer product companies and leaving them scrambling to respond.
‘NO CATEGORY IS IMMUNE’