Sales: $533 million
Note: $533 million (estimated) for sun and skin care products. Corporate sales: $2.1 billion
Key personnel: Rod R. Little, president and chief executive officer; Daniel Sullivan, chief financial officer; John Hill, chief human resources officer; Colin Hutchison, chief operating officer; Marisa Iasenza, chief legal officer
Major products: Sun care, skin care and shave products sold under brand names that include Banana Boat, Bulldog, Hawaiian Tropic, Schick, Wilkinson Sword, Edge, Skintimate, Personna, Jack Black and Wet Ones
New products: Banana Boat Light as Air sunscreen, Simply Protect sensitive sunscreen spray SPF 50+
Comments: Last year, corporate sales fell more than 3% to $2.1 billion, but sun and skin care sales rose 2.2%, inclusive of a 3.8% increase from the Jack Black acquisition. That gain helped offset declines in Banana Boat sales, which the company blamed on its sun care reformulation project, which Edgewell undertook in anticipation of regulatory changes related to REACH implementation in the European Union.
Project Fuel, a company-wide initiative that provides fuel for growth, focuses on fundamentals and invests in growth opportunities. Project Fuel provided the resources to increase investment in Jack Black including increased digital marketing and expanding the influencer program. As a result, Jack Black recorded a double-digit increase in post-acquisition revenue, with e-commerce accounting for nearly 50%. Edgewell bought Black Jack in 2018. Similar efforts led to a 300% increase in net sales for Bulldog men’s grooming products, which Edgewell acquired in 2016.
To keep that momentum going, last year Edgewell announced plans to merge with another men’s grooming company, Harry’s, but the US Federal Trade Commission filed suit to block the nearly $1.4 billion acquisition. According to FTC, the loss of Harry’s as an independent competitor would eliminate competitive forces in the shaving industry. If that weren’t enough, Harry’s said it would pursue legal action against its former merger partner.
Last year, Edgewell sold its infant and pet care business.
For the six months ended March 31, 2020, corporate sales declined 2% to $977 million, but sales of sun, skin and shave products rose nearly 7% to $191.9 million. COVID-19 concerns drove demand for Wet Ones wipes, but conversely, Edgewell expects demand for sun care to falter due to lingering stay-at-home orders.