British shaving producer, The King of Shaves Company Ltd, has revealed that a minority shareholding in the business has been sold to Kai Industries, a Japanese manufacturing and technology company.
Started in 1993, King of Shaves is now the second largest brand of shaving products in the UK and is sold in Boots, Harrods, Lloyds Pharmacy, Morrisons, Sainsbury’s, Superdrug, Tesco and Waitrose. King of Shaves is also available throughout the USA, as well as other countries including Australia and New Zealand.
Founder Will King said: "I'm delighted to welcome Koji to our Board. We have developed a strong and successful partnership with Kai; their investment in King of Shaves is testament to their belief in our brand, and its compelling international growth opportunities.”
The King of Shaves aims to use the partnership to expand its international market.
Koji Endo, president and chief executive of Kai Industries, who was also welcomed to the board, said "Kai is a company with over one hundred years expertise in technology and manufacturing, committed to long term success and product excellence. We are pleased to be partnering with King of Shaves, and look forward to collaborating with them over many years."
Kai Industries worked in partnership with King of Shaves between 2003 and 2008 on the development of a new razor. According to King the company plans to continue working with Kai to develop innovative products for the razor and blade market.
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