The move comes after the Federal Trade Commission filed a suit to block the acquisition in December, saying that the deal would “eliminate growing competition that benefits consumers.”
P&G and Billie issued a joint statement that said: “We were disappointed by the FTC’s decision and maintain there was exciting potential in combining Billie with P&G to better serve more consumers around the world. However, after due consideration, we have mutually agreed that it is in both companies’ best interests not to engage in a prolonged legal challenge, but instead to terminate our agreement and refocus our resources on other business priorities.
Billie was also the first brand to show women shaving leg, armpit or pubic hair in marketing materials, breaking with traditional advertising that historically showed models shaving already-bare legs. After Billie, Harry’s launched Flamingo, a women’s personal-care line with razors, at-home wax kits and other products that has a similar Millennial and Gen Z reach.
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