Woke & Broke: Gillette Gets $8 Bill Writedown
Toxic wokeness among major corporations with garbage products is a real problem.
It works like this. A major brand has a garbage product that it overcharges for, but its brand is one of the 2 or 3 names consumers know, and it's part of a vast megacorporate umbrella of garbage brands just like it. So to "refresh" its brand, its ad people tell it to take a leftist stand.
And then maybe consumers will stop switching to better alternatives.
Didn't work so well for Gilette.
Hey, Gillette — that’s one painful nick!
The 118-year-old razor maker’s parent company, Procter & Gamble, on Tuesday revealed it will take an $8 billion writedown on the men’s grooming brand.
Time to blame random things and make up excuses.
One big problem, according to P&G: Millennial men aren’t shaving as often as their dads do.
In addition to beards and five-o’clock shadows, the strong dollar has slammed sales by sapping revenue from overseas markets.
To make matters worse, analysts say Gillette has faced stiff competition from upstart brands such as Dollar Shave Club, now owned by rival Unilever, and Harry’s.
Which, somehow, are making money.
The reality is Gilette is a tired brand with an overpriced product that people only bought through force of habit. So, time for Gilette to double down on wokeness.
How about Colin Kapernick shaving while taking a knee for the anthem and then toweling off with an American flag? That's bound to fix it.