Customers are leaving Gillette in droves — and now the company is taking drastic measures to stop the bleeding, reports Business Insider's Dennis Green.
Razor startups like Dollar Shave Club and Harry's, which offer razors on a subscription model, are most to blame.
In the last five years, Gillette has seen its market share drop from 70% to 54% while those two startups have seen a spike from 7% to 12%.
To counteract these losses, Gillette has been forced to slash its prices - as low as 20% in some areas.
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Source - Business Insider