Gillette’s parent company Procter & Gamble revealed last week an $8 billion cash write down after facing months of boycotts from customers over its controversial ad campaigns.
An ad campaign was launched after the #MeToo movement which urged men to show a more gentle side. It went viral in January.
The short film, “We Believe: The Best Men Can Be,” upset many customers when it tried to present most men as being toxic. The ad garnered intense debate for stereotyping men as bullies, wife beaters and misogynists.
The controversial ad was praised by many, but also caused some loyal customers to boycott the company.
Gillette CEO Gary Coombe said he does not regret the ad campaign.
“I don’t enjoy that some people were offended by the film and upset at the brand as a consequence. That’s not nice.”
In May Gillette also ran an ad campaign featuring a man teaching his transgender son how to shave.
Procter & Gamble, however, does not see the controversial ads as the reason behind their slumping sales. Instead, the company blames falling razor sales on the resurgence of men wearing beards.
“Lower shaving frequency has reduced the size of the developed brands and razors market,” P&G Chief Financial Officer Jon Moeller said.