Gillette executives don’t mind a little com- petition—even when the competition may come from within. Last month, Gillette said it would invest up to $7 million with Palomar Medical Tech- nologies Inc. to develop an at-home laser hair removal device for women. Gillette plans to invest up to $7 million during the next 30 months to develop the device, which would be an at-home version of a costly hair removal machine that can only be used at a doctor’s office.
The current agreement only involves research and development, but if testing and regulatory requirements are met, the two companies said they will consider a commercial launch. If the product is successful, it could cut into demand for Gillette’s namesake razors, but a spokeswoman said the company hoped that any new product would “augment and enhance” Gillette’s razor business.