How HARRY'S grew into an EMPIRE

Описание: From feeling ripped off to inspired to Germany and then buying a manufacturing plant to stop the competitor. Wow, Harry’s was ready to fight.

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Episode: #124: Harry’s – 0 To $1.4 Billion in 7 Years
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Timestamps:
Podcast: (0:00)
Sponsored Segment: (9:30)
Podcast: (10:33)
Outro: (21:19)

Transcript:

Dave Young:
But welcome to the Empire Builders Podcast. Dave Young, along with Stephen Semple, and we share stories about people that have built themselves an empire.

Stephen Semple:
That’s correct.

Dave Young:
And today Steve told me we’re going to talk about Harry, Harry’s razors.

Stephen Semple:
Yes, Harry’s.

Dave Young:
Harry From Harry’s. You know Harry.

Stephen Semple:
Harry from Harry’s Razors. That’s it. Yes.

Dave Young:
Yeah.

Stephen Semple:
Yeah. So-

Dave Young:
Do tell. I mean, I think I’ve peripherally heard it, but I don’t think I’ve used the product.

Stephen Semple:
Yeah, I’ve not used the product either. And I also remember when they first came out and they were advertising primarily online, but now you see them in Walmart and in Target and whatnot, they become really quite a big deal and really a disruptive force in the shaving business. But in terms of a disruptive force, one of the main actors in this, we’ve heard of before, because it was founded in 2012 by Andy Katz and Jeff Raider, and Dave, you may remember the name, Jeff Raider. He was one of the founders of Warby Parker back in episode 80.

Dave Young:
All right.

Stephen Semple:
So Jeff, he’s got a couple of big successes under his belt because Warby Parker as we know was huge. It was huge.

So they launched in July of 2012 and 2016 they had 2 million customers. 2017, their product was launched in Walmart and Target, 2019 Schick was going to buy them for $1.4 billion, and that purchase was blocked by the FTC. So they became in seven years, a pretty big deal from startup to being a business worth, even though the sale didn’t go through, still valued at $1.4 billion. And when they started, and frankly the market still is, but when they started heavily dominated by Gillette. Gillette was a 70% market share. Today it’s been whittled down by companies like Harry and the Dollar Shave Club where Gillette is 50%, but still 50% of a market is big.

Dave Young:
It comes and goes in and out of style, but men are always going to be shaving their beards off.

Stephen Semple:
Yeah.

Dave Young:
They’re always going to be shaving whiskers off.

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