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P&G Bought Gillette 18 Years Ago. It’s Still Paying the Price.



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Updated Dec. 5, 2023 4:45 pm ET

Procter & Gamble stated it was reserving a $1.3 billion cost on its Gillette enterprise, adjusting the worth of a shaving large that it took over practically twenty years in the past.  

P&G purchased Gillette for stock initially valued at $54 billion in 2005, making it a dominant participant in the international razor enterprise. The unit has struggled lately as upstarts, equivalent to Dollar Shave Club and Harry’s, have entered the market with decrease costs. As of June 2023, P&G estimated its grooming enterprise was value about $14.1 billion.

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