The razor market is dominated by Boston-based Gillette, according to Euromonitor. In August, its parent company, Procter & Gamble, said its razor sales were falling in developed markets. Energizer’s Schick razors weren’t doing much better at the time. Bloomberg reported the company experienced a 10 percent drop in unit sales in the past year.
“The vogue for stubble, the relative non-hairiness of Chinese men, growing acceptance of the unshaven look in the workplace and, most importantly, the ever increasing cost of shaving have all been damaging to men’s shaving and Gillette alike,” Nicole Tyrimou, a beauty and personal care analyst at Euromonitor, wrote in a July story posted to the agency’s website.