There’s a little more to their massive write-down than first reported, but they stand by their decision — what do you think?
The BIG, splashy announcement a couple of days ago was that Gillette got woke, and went broke — to the tune of $8Billion.
That’s a big chunk of change and would be a huge deal if it were entirely traceable to their social-justice campaign. But it wasn’t the whole story original reporting jumped the gun and didn’t ask for corporate statements on the numbers.
[We are happy to say that we were not among the outlets reporting the erroneous story.]
When the accountants sharpened their pencils and the dust had settled, the corporate numbers still have a massive write-down, but the ad may not bear as much responsibility as early reporting suggests.
Gillette CEO Gary Coombe had said the #MeToo ad campaign had cost the company some customers but this was a “price worth paying.”
On Tuesday, P&G announced the company had taken a $5 billion loss for the quarter with Gillette, costing the company $8 billion in a noncash writedown.
In devaluing Gillette by $8 billion, the parent company blamed currency fluctuations, fresh competition, and new social norms that have led to men shaving less often. There is no evidence that the “best a man can get” ads pushing back against sexist and bullying contributed to the $8 billion figure.
Coombe said the backlash to the transgender was more “intense” than he had expected but defended the ad as “less provocative” than other version Gillette had considered.
“I don’t enjoy that some people were offended by the film and upset at the brand as a consequence. That’s not nice and goes against every ounce of training I’ve had in this industry over a third of a century,” Coombe said. “But I am absolutely of the view now that for the majority of people to fall more deeply in love with today’s brands you have to risk upsetting a small minority and that’s what we’ve done.”
Look at his next comment and ask yourself if he’s intentionally participating in what’s often given the blanket term ‘the culture war’, or if that sounds like it’s ‘just business’.
LaFeldt said the film’s impact would be felt “beyond the numbers,” saying, “This includes the many stories we hear about the film being used in school classrooms, universities, churches and youth clubs to start a conversation with young people about masculinity and gender in modern society.”
We shared that story and their competitor’s response back when it first happened:
Remember how big a story that was just eight months ago?
That story almost seems ‘quaint’ compared to where the social activists have gone since doesn’t it? With little boys twerking in drag, and the #WaxMyBalls scandal in Canada where people didn’t know whether to side with the obnoxious and litigious dude in a dress with accusations of sex scandal swirling around him or poor (often minority) women that were told they needed to perform a ‘Brazillian’ on a hairy scrotum — or else be sued into oblivion.
Have the supposed Progressives ever stopped to ask themselves where the ‘final destination’ of their Progressive march will take them?
Or are they simply following orders of whoever happens to lead their lunatic marching band?
by Doug Giles
Doug Giles, best-selling author of Raising Righteous And Rowdy Girls and Editor-In-Chief of the mega-blog, ClashDaily.com, has just penned a book he guarantees will kick hipster males into the rarefied air of masculinity. That is, if the man-child will put down his frappuccino; shut the hell up and listen and obey everything he instructs them to do in his timely and tornadic tome. Buy Now: Pussification: The Effeminization Of The American Male
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