Philips noreshaver for men: What’s in it for you?
The Norelcos, a company that has sold more than a million men’s shaving creams and hair products since 2008, is closing.
Philips says it will begin to phase out its shaving cream line.
The Noreshavers are a line of shaving creamer that have long been popular in men’s grooming.
The brand began in the mid-1990s and has become a well-loved and trusted name among men’s consumers.
Philip Shaver &shaves has a long history of being among the most successful brands in the shaving world.
A recent report from financial firm Morgan Stanley found that Philips was the top brand in the US for annual revenue in 2017.
It earned $16.8 billion in 2017, and was valued at $16 billion at the end of March.
Philips said it will not be able to continue its business with the Noreshavers, saying that the company is “taking the steps necessary to make this difficult decision.”
The Noresavers are among several shaving brands that were recently acquired by companies that are seeking to cut costs, according to The Wall Street Journal.
The companies also have been selling products at a discount to Philips and other manufacturers, and some are reportedly seeking to lower their prices to make them more attractive to consumers.
The Norels are also being acquired by another company, Men’s Grooming Group, which is buying the Shaver Shop brand for $1.7 billion.