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Shaving upstart Harry's is selling for $1.37 billion to the company that owns Schick razors

Schick and Wilkinson razor brands owner Edgewell Personal Caresaid on Thursday it would buy shaving startup Harry's Inc in a $1.37 billion cash-and-stock deal, to expand in a fast-growing U.S. grooming market. Harry's is the latest shaving startup to be bought by a bigger rival and dwarfs Unilever's purchase of the U.S.-based Dollar Shave Club in 2016. Unilever, Procter & Gamble and others have put more focus on men's grooming, trying to coax them into spending more on deodorants, skin creams and hair products. The global men's grooming industry is expected to hit $78.6 billion by 2023 from $57.7 billion in 2017, according to a report.

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