Consumer goods company Harry's Inc. The company has reportedly filed confidentially for an IPO.
The company, which started with men's grooming products in 2013 and now has five CPG brands, is working with investment banks and preparing to go public in New York, Reuters reports reported Friday (March 8), citing unnamed sources.
Harry's Inc. did not immediately respond to PYMNTS' request for comment.
The company closed a private fundraising round worth $1.7 billion in 2021, including investors Bain Capital And Macquarie Capitaland is approaching $1 billion in annual revenue, according to the report.
The company launched its men's grooming product and brand of the same name. Harry'sin 2013, selling directly to consumers online and through subscriptions, according to the company website.
The business later expanded to brick-and-mortar stores, including wholesalers, drugstores, and grocery stores, and added four additional brands: flamingo for feminine care products; Cat lover for cat care products; And World And command for deodorants.
In 2020, Edgewell Body Care attempted to acquire Harry's Inc. for $1.37 billion but was blocked by the government Federal Trade Commissionwhich argued that the deal would reduce competition in the shaving market, according to the Reuters report.
Another D2C men's grooming company, Dollar Shave Clubwas sold by Unilever To Nexus Capital in 2023, the report says.
When we announced this acquisition, Michael CohenPartner at Nexus Capital, noted Dollar Shave Club's brand loyalty, D2C model and omnichannel presence.
“We see growth potential and will invest in modern marketing, product quality and new innovations,” Cohen said in a statement at the time Press release. “Dollar Shave Club will also serve as a platform for other brands with similar DNA.”
In February it was reported that the IPO market There could be a recovery this year as the US economy continues to grow, the nominal two-year Treasury yield falls slightly and valuations remain high.
The number of companies going public fell over the past two years, from 1,035 in 2021 to 181 in 2022 and 154 in 2023, Seeking Alpha reported Feb. 11, citing IPO statistics out of Stock analysis.
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For more information, see: Cat Person, D2C, E-Commerce, Flamingo, Harry's, IPOs, Lume, Mando, News, PYMNTS News, Retail, Subscriptions, What's Hot
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