Dollar Shave Club to Exceed $60 Million in SalesFriday, August 29, 2014
The Dollar Shave Club is lathering up a profitable year.
Co-founder and Chief Executive Michael Dubin said the razor subscription service is on track to exceed $60 million in 2014 sales, three times what the company sold last year.
The Venice startup, which launched in 2012, sends low-priced razors to its monthly subscribed members. Dubin said the company owned 7.2 percent of the U.S. men’s cartridge market on a volume basis. The Dollar Shave Club also sells grooming products such as after-shave lotions and flushable wipes.
“Right now, we are focused on creating the best-in-class grooming and skin-care products for men at prices way less than what’s out there,” he said.
The Dollar Shave Club has raised $22.8 million in total funding. It currently has more than 900,000 active members.