Procter & Gamble announced on Wednesday that it acquired the parent company of the razor startup Bevel, Walker & Company Brands. The company, which also operated a hair care company called FORM Beauty, aims to create products for people of color.
It is another example of a big consumer product company acquiring one of the many direct-to-consumer startups that have cropped up in recent years. Unilever acquired Dollar Shave Club about two years ago. Earlier this year, the watchmaker Movado Group bought MVMT, a company that launched in 2013 and sells watches, sunglasses and other accessories.
Walmart is also betting big on this strategy. It acquired Bonobos last year and installed its founder Andy Dunn as its point man for cultivating or acquiring online brands. Just last week, the retail behemoth bought Art.com.