3
NEXTGEN VISIONARY NEW YORK ANDY KATZMAYFIELD CO-FOUNDER AND CEO HARRY’S
ANDY KATZ- MAYFIELD
HARRY’S
Age 37 Hometown Brookline, Massachusetts Current Residence Bi-coastal between L.A. and N.Y. Family Lacey (wife); Chloe and Isla (daughters) Education B.A., Public Policy, Duke; MBA, Stanford University First job Waiter Mentor My dad
Founded 2012 Employees 800
A Close Shave to Success Harry’s Co-founder Andy Katz-Mayfield is modernizing men’s hygiene by expanding the company’s mammoth quest to tackle consumer needs. By Jason Dean
Man had been shaving for millennia when Andy Katz-Mayfield entered a New York City drugstore one evening for an affordable razor. Eyeing the locked rack of over-priced devices, he recognized an unmet need. Not long after, he partnered with college friend (and Warby Parker co-founder) Jeff Raider to form Harry’s. The brand that started with direct-to-consumer razors has since evolved into a major omni-channel player in men’s care. Launched around the same time as another disruptor (Dollar Shave Club), Harry’s sought to differentiate itself by providing an innovative, affordable solution. Their value proposition: consistent pricing across retail and online channels; a straightforward assortment of men’s care products that simplify options; honest ingredients; and a commitment to give one percent of all sales to causes that give back to men in need. CSQ recently caught up with Katz-Mayfield as Harry’s preps for an anticipated combination with Edgewell (parent company of Schick) valued at $1.4B—a total that would eclipse the $1B Unilever deal Dollar Shave Club inked in 2016.
Innovation - Katz-Mayfield
Did you feel the heat of competition for mar ket share with Dollar Shave Club in 2012, when you were both fledgling companies?
I don’t think we ever considered Dollar Shave Club our primary competition. In retrospect, it was great because having them out there as an alternative, it caused a lot of people to consider that they had options. There’s one Goliath [Gillette] and then a whole lot of Davids. While we compete with Dollar Shave Club on some level in terms of mindspace and advertising dollars, I think there’s a number of insurgents that are chipping away at the monopolists. How did you meet Jeff Raider and what is your working relationship like?
Jeff and I were college interns together. We worked together in private equity for five years, then came back together to build Harry’s. There is real value to having known someone for nearly 20 years. You share a deep trust and a shared set of values and worldview. We don’t disagree on too much. Over time, we’ve carved out certain areas of responsibility. Historically, Jeff spends more time on marketing, the brand, 56
INNOVATION & TECHNOLOGY