Razor sales trimmed by beard boom
A GROWING preference for facial hair is trimming razor sales, according to Procter and Gamble.
Hipsters' fondness for shaggy beards contributed to a 7.8pc fall in P&G sales of non-disposable razors and blades in the 12 weeks ending December 31.
US-headquartered household goods producer P&G even called out Movember, the men's health initiative that sees participants grow mustaches to raise money for prostate cancer research. The event cut into grooming sales last quarter, chief financial officer Jon Moeller said.
But P&G's grooming business, which includes shaving cream, razor blades and deodorant, still generated $2.12bn (€1.54bn) in revenue during the quarter.