The acquisition will enable Edgewell Personal Care to build out its portfolio of women's shaving products. Here are the top-line bullets you need to know.
WHO ARE THE PARTIES TO THE DEAL?
- Billie: New York-based Billie sells shaving and premium body care products to women on a subscription basis in the US. The company’s products include razors, shaving creams, lip balms, makeup wipes, dry shampoos, body lotions, and body wash. The company reported generating $90M in revenue last year. The startup plans on entering the brick-and-mortar retail segment in early 2022.
- Edgewell Personal Care: Connecticut-based Edgewell Personal Care is a consumer products company that caters to customers in 50+ countries, including the US, Canada, Mexico, Germany, the UK, Japan, and Australia. Edgewell’s leading brands include Schick, Wilkinson Sword, Banana Boat, and Wet Ones. Edgewell reported $2.1B in net sales FY’21, up 7.1% year-over-year. The company has about 6,900 employees globally.
WHY DOES THE MARKET MATTER?
- The global beauty and personal care market is expected to reach a value of $558.1B by 2026, growing at a CAGR of 4.82%, according to TechSci Research.
- Major factors fueling the market’s growth include the aging global population as well as rising beauty and personal care product expenditure.
- The advancement of augmented reality, virtual reality, and artificial intelligence technologies has also contributed to market growth.