Consumer Goods - Presentation by Jeff Lipkin, CFO of Harry's at the Axel Springer NOAH Conference Berlin 2016, Tempodrom on the 9th of June 2016.

1. NOAH CONFERENCE 2016
HARRY’S
Building a global, multi-channel grooming brand
Jeff Lipkin
CFO
www.harrys.com

2. 10 - 11 November 22 - 23 June
Save The Date
www.noah-conference.com

3. Harry’s was launched in March 2013 to offer
high quality razors at a fair price, directly to
customers.
It all started with Andy having a less than
pleasant experience while buying razor blades
and shave cream at a drugstore. He waited for a
clerk to get them from behind a glass case and
spent over $25 on a brand that didn't appeal to
him as a customer.
Andy called Jeff to share his experience, he
empathized, and together they decided to
create Harry’s to address this pain point.
Our Story…
2
Andy Katz-Mayfield, co-founder Jeff Raider, co-founder

4. We built Harry’s because razors are…
Overpriced
Over-designed
Cost to produce
one blade: <$0.40
Current retail price
per blade: >$5.00
Inconvenient to purchase
3

5. 4
The global market for razor blades is >$13 billion…
…and completely dominated by two major players.
Schick/
Wilkinson
(Edgewell)
Schick/
Wilkinson
(Edgewell)
Global Men’s Razors and Blades US, Germany, France, and UK Men’s Razors and Blades
Schick/
Wilkinson
(Edgewell)
NYSE: EPCSchick/Wilkinson
(Edgewell)
NYSE: EPC
NYSE: PG
NYSE: PG
4

6. 5
MARGINS ARE ~2.5X HIGHER THAN
COMPARABLE CPG INDUSTRIES
THE VAST MAJORITY OF PROFIT
ACCRUES TO THE MANUFACTURER
The shaving industry is broken.
Product
Margin
Razors &
Blades (pre-
acquisition)

7. Harry’s breaks the price/quality continuum.
Quality
Price
Cheap, low-quality,
price-focused
brands
Overpriced, out-
of-touch brands
Dominate the market: consumers pay
due to lack of high quality alternatives
Limited traction:
quality is critically
important in shaving
• Rough, uncomfortable
shave
• Limited brand equity
• Cheap
• Futuristic, outdated branding
• Very high prices
People want this
• Quality products
• Close and comfortable shave
• Affordable price
6

8. We have built a highly differentiated
men’s grooming brand.
7

9. To iterate on innovation, we bought a factory in
Germany and have invested significantly in it.
8

10. We have the ability to continuously improve the product
and experience—the best is yet to come.
We are using customer feedback to drive innovation into better products
Direct customer relationships
Owned world-class
manufacturing
Product innovation that people
truly want
9

11. And the market has responded to this new business
model.
+73%
~$300M
2014
~$170M
2015
Online sales up ~73% from last year
Est. US men’s online sales ($M)
2,406 2,377
~$2,400M
~170
~200
0%
Non-tracked offline
Online
~$2,400M
~190
~300
‘14 ‘15
Overall US men’s market is estimated to be flat
with declining share in tracked offline
Tracked offline
Est. US men’s razor and blades market ($M) 13% online
penetration up from
7% in 2014
10

12. Harry’s has been a beneficiary of that market shift.
1,572K
1,301K
987K
822K
647K
558K
392K
261K
133K
95K61K
35K16K
Q2 2013Q1 2013 Q4 2013Q3 2013 Q1 2014 Q3 2015Q2 2014 Q1 2016Q2 2015Q1 2015Q4 2014Q3 2014 Q4 2015
11
Harry’s Brand: Cumulative Customers
(Launch)

13. Thank you.

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