Billions Shaved Off of Gillette’s Profits

Proctor & Gamble’s Gillette brand of shavers for men began featuring commercials bashing men for their “toxic masculinity” as a new marketing angle in an attempt to appeal to millennials.

Even though Gillette CEO Gary Coombe acknowledged that the campaign backfired, the company then quickly jumped on the LGBT bandwagon by showcasing a “transgender boy” (a biological girl) being taught how to shave by her dad in a Father’s Day ad.

This prompted conservative groups like One Million Moms to reach out to their conservative base to boycott the company. Many attribute the boycott for the $8 billion non-cash write-down Gillette reported in the second quarter report of its parent company, Proctor & Gamble. The company’s liberal stance on the issues of marriage, life, education, and religious liberty is reflected in its score from 2ndVote of 1.7, on a scale of 1-5, with 1 being the most liberal.

Instead of admitting that its political ideology might have been largely to blame for the asset devaluation, CFO Jon Moeller is blaming a cultural trend toward facial hair as the culprit: “Lower shaving frequency has reduced the size of the developed blades and razors market.”

While Gillette may still be shrugging off the loss and claiming that boycotts really don’t work, former Walmart CEO Bill Simon says it does not take much to affect a company’s bottom line. “It doesn’t take a lot of people to stop buying product or to stop going to a retailer or a restaurant . . . for [companies] to notice, because a couple of percentage points is win or lose for a company,” he says.

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