$1B Lessons on Innovation From Dollar Shave Club

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Oftentimes, there’s a razor-thin margin between success and failure. Not long ago, Gillette—which dominated the $3.5 billion market for razors and accessories for longer than a century—was challenged by a little upstart called Dollar Shave Club, which had just starred in their first commercial for a reported production cost of $4,500. Q3 2021 hedge fund letters, conferences and more At Gillette, innovation mostly consisted of adding the occasional blade to its disposable cartridges, but there was little incentive to otherwise rock the boat of its delightful recurring-revenue model. After all, …

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