King of Shaves develops
THE toiletries business founded by Lowestoft entrepreneur Will King is to split in two in a move to 'accelerate sales growth'.Mr King's King of Shaves has developed into a multi-million pound operation since being founded at his home in the town in 1993.
THE toiletries business founded by Lowestoft entrepreneur Will King is to split in two in a move to 'accelerate sales growth'.
Mr King's King of Shaves has developed into a multi-million pound operation since being founded at his home in the town in 1993.
Yesterday, it emerged that Mr King will split the business into King of Shaves Company - focusing on the sale of its own products - and KMI, which will develop other brands, including Ted Baker Fragrance and Fish & Angelfish Styling.
The company also announced inward investment of �4m from Mr King's brother and fellow shareholder, Doug King, co-founder and chief investment officer of the Singapore-based commodity fund Aisling Analytics.
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Mr King will remain chief executive of King of Shaves, while his business partner Hiten Dayal will run KMI.
Mr King said: 'Launching the King of Shaves Azor system razor successfully in 2008 gives the King of Shaves a genuine opportunity to become a serious global challenger brand in the world's shaving market, building on the strong foundations of the past 16 years.
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'We believe that this demerger will accelerate retail sales towards my target of firmly establishing the King of Shaves as a genuine global contender in men's grooming.'
