Margins disappointed. P&G bought the now 118-year-old Gillette in 2005 for $57 billion, in what was the largest acquisition in the company’s history. $0 Which is actually pretty interesting. Littlewife. The personal grooming brand has had an $8 billion write down. They even produced another ad called “First Shave,” in which a father initiates his transgender son into shaving. Published by at 15 settembre 2020. Explorer. Explorer. But the 2010s have been a difficult decade for razor sales … We’ll see what happens a year from now. Countless men - and some women - took to Twitter to announce their boycott after the ad, titled We Believe, made the rounds on social media on Monday, denouncing 'toxic masculinity'. Gillette's social justice moral preening just cost them $8 billion. ... People reacted similarly to Gillette's commercial as they did to Nike's. Gillette lost $8 BILLION in the second quarter. Follow. Follow. See, Gillette has been losing money for years. According to Reuters, Gillette suffered a net loss of billions of dollars last quarter. ... Gillette responded to the dip in sales by selling off 218 Million dollars worth of stock on the open market, ... Where the fuck did I mention New York in regards to Gillette. P&G reported a net loss of about $5.24 billion, or $2.12 per share, for the quarter ended June 30, due to an $8 billion non-cash writedown of Gillette. “Initial carrying values for Gillette were established nearly 14 years ago in 2005. Sales were already on the decline back in April, but the following month Gillette released yet another ‘woke’ commercial in which a dad taught his transgender son to shave for the first time. Gillette CEO: $8 billion loss is ‘price worth paying’ over #MeToo campaign. All that wokeness did not pay off for Gillette and P&G. If P&G wants to halt the slide it may have to seriously reconsider alienating a huge chunk of its customer base with identity politics nonsense. Did Nike’s sales go … U.S. sales at Harry's, launched in 2013, more than doubled to … Gillette claimed a US market share of 70% as recently as 2010, but it fell to 54% in 2016, according to the Wall Street Journal, which cited data-tracking firm Euromonitor. While parent company Proctor & Gamble posted strong sales, Gillette posted a net loss. Gillette’s parent company, Proctor & Gamble, says it will reduce the price of some of its shave products by up to 20%. Gillette has learned that in [current year], it’s not enough for a company to make a product that people want. Nobody objected to it, even if only about .01% of Gillette’s market could relate to it, and another percentage, who knows how many, were doubtless made uncomfortable by it, so it was probably a wash sales-wise. Despite Procter & Gamble's write-down of its struggling Gillette brand, executives expressed confidence about the future of the shaving business.. P&G reported an … Net sales in the grooming business, which includes Gillette, have declined in 11 out of the last 12 quarters. Actions meet consequences. Gillette just cancelled their anti-male ads and admitted that going woke made them lose 8 billion dollars. Gillette experienced a whopping $8 billion write-down during its most recent quarter, the latest setback for the maker of razors and other personal grooming supplies.Parent company Procter & Gamble (P&G) blamed the loss on … Other products’ by the company won’t have a price change. Senza categoria; Tags . But sales of grooming products, including Gillette, slipped 1%, continuing a long string of declines.” Normally, virtue signaling ends up being profitable for corporations because it generates tens of millions of dollars in free advertising. Gillette's new ad, "We Believe", takes on the issues of "toxic masculinity" and has generated both praise and calls for #boycotts. Of a cool $8 Billion. "P&G reported a net loss of about $5.24 billion, or $2.12 per share, for the quarter ended June 30, … At the time of writing, the ad has 794,000 dislikes on Gillette’s YouTube channel, compared to 386,000 likes. Can I say "told you so" ? Reads the headline of a recent article in the Washington Examiner.They Tweeted the article with the following comment: “ Gillette’s controversial marketing campaign targeted at the #MeToo movement cost the company $8 billion. Sales were already on the decline back in April, but the following month Gillette released yet another ‘woke’ commercial in which a dad taught his transgender son to shave for the first time. That’s billions with a “b”: However, P&G reported a net loss of about $5.24 billion, or $2.12 per share, for the quarter ended June 30, due to an $8 billion non-cash writedown of Gillette. ronaldo75. The news came from P&G CFO Jon Moeller in a conference presentation to financial analysts. CORRECTION: The Washington Examiner has updated this story to remove the suggestion that Gillette lost $8 billion due to its #MeToo-inspired advertising campaign. But the Gillette ad was so bad, it seems that not even that will be enough to make up the shortfall. sales growth. Reuters reported:. Gillette’s parent company, Proctor & Gamble, says it will reduce the price of some of its shave products by up to 20%. If P&G wants to halt the slide it may have to seriously reconsider alienating a huge chunk of its customer base with identity politics nonsense. P&G paid $57 billion in 2005 for Gillette, the world’s No.1 shaving brand that is more than a century old. Net sales in the grooming business, which includes Gillette, have declined in 11 out of the last 12 quarters. Screenshot: YouTube. Opinion Owner. ... All of the talk won't mean shit if they lose sales. Gamble are standing by the shaving brand, amid slumping sales Gillette, 1... 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