Berlin Startup Mornin Glory
The minds behind razor blade subscription commerce company Mornin’ Glory are ready to take it public.
The online service, launched today from Berlin with funding from business angels including Christophe Maire, allows European men to sign up for a monthly package of replacement blade cartridges Its main competitors will be Gillette, which holds 80 per cent of the market in Europe, and P&G-owned Wilkinson, sitting at about 10 per cent.
A European man spends, on average, almost half a year of his life shaving – not counting the time wasted at the supermarket shopping for blades. Men, who shave daily, spend so much money that they could buy a car with it.
According to Mornin’ Glory, European men spend about €2.6billion per year on razors and blades – more than on any other grooming product – but only about three per cent of purchases currently take place online.
Hmm.
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