Procter & Gamble takes massive $8 billon hit as Gillette launched its ‘toxic masculinity’ campaign

(FILE PHOTO by Getty/video screenshot)

Procter & Gamble, the multinational parent company of the personal care products brand Gillette, reportedly lost billions of dollars last quarter because of Gillette.

P&G reported a net loss of about $5.24 billion, or $2.12 per share, for the quarter ended June 30, due to an $8 billion non-cash writedown of Gillette. For the same period last year, P&G’s net income was $1.89 billion, or 72 cents per share,” Reuters reported Tuesday.

This mean’s the company’s earnings dropped by over $7 billion from 2018 to 2019. Why such a steep drop? Company executives claim it’s because men aren’t shaving as much …

“Lower shaving-frequency has reduced the size of the developed blades and razors market,” P&G CFO Jon Moeller reportedly said Tuesday during a call with analysts.

That’s certainly one possibility. Another is that competitors are pricing Gillette out of the market.

“Initial carrying values for Gillette were established nearly 14 years ago in 2005. … New competitors have entered at prices below the category average,” Moeller said.

Though not mentioned by either Moeller or the media, there is a distinct third possibility, which is that Gillette got woke, then went broke, figuratively speaking:

How so?

The Washington Times notes that “[t]he year that Gillette launched its ‘We Believe’ campaign and asked ‘Is this the best a man can get?’ has coincided with P&G’s $8 billion non-cash writedown for the shaving giant.”

Exactly.

“We Believe” is an ongoing #MeToo-based social awareness campaign that essentially centers on smearing all men as predatory bullies suffering from so-called “toxic masculinity.” It was unveiled in January, around the start of the quarter, via a widely criticized ad.

“The Procter & Gamble-owned company is using the new ad to tackle its own slogan, ‘The Best a Man Can Get,’ addressing issues of harassment, bullying and men’s mental health,” Fox News reported at the time.

“It also promotes the idea that men can and need to do better when it comes to holding each other accountable and treating women with respect so as to set a better example for boys watching them.”

Watch the ad below:

While the ad appeared at first glance to be promoting positive behavior, a closer inspection revealed that it reeked of Marxist-styled “social justice” concepts, including “toxic masculinity.”

Far-leftists activists concocted the misandrist term “toxic masculinity” in an attempt to pathologize the otherwise normal behavior observed among men, including their inclination toward protecting women and children, maintaining stoicism during dark times and being fearless leaders.

To the radical far-left, who represent a minority of a minority, these age-old attributes of men represent anomalies that need to be stamped out of society. But while Gillette’s decision to adopt this distorted viewpoint earned it the respect of the far-left, the brand earned that respect at the cost of angering what appeared to be the overwhelming vast majority of men AND women:

Yet despite all the criticism, and the despite the $8B writedown, the company appears to be doubling down.

“Gillette’s CEO and president, Gary Coombe, says that angering some consumers with its #metoo campaign was a ‘price worth paying’ if it meant the brand could increase its relevance among younger consumers and turn around its falling market share,” Marketing Week reported Monday.

Apparently, the company’s plan is to get woke, go broke and stay broke.

Good luck with that …

Vivek Saxena

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