LAHORE: Moiz Ali, owner of San Francisco-based Native Deodorant brand has sold his company to Procter & Gamble for $100 million.
Moiz Ali, studied at Harvard Law School as mentioned on his Linkedin profile.
Native Deodorant formed its own niche by differentiating itself from its much larger competitors Gillette, Axe and Speed Stick by totally utilizing all-natural ingredients in its products.
Launched 2.5 years ago, Native Deodorant was able to amass over a million customers and used the profits to reinvest back in the business to furnish growth.
It recently raised over $500,000 from Azure Capital Partners and is an online distributor of deodorants. Native’s deodorants are offered in fragrances like honey-crisp apple, pumpkin spice latte and cinnamon.
Native’s deodorants are pricier in comparison to its competitor’s offerings at $12 per stick.
In an interview to an American website Hustle in August this year, Ali said “I love deodorant. “I’ll go to Target on the weekends and watch how people sniff deodorant and make buying decisions. I’ll ask them right there why they chose the bar they have.”
P&G’s acquisition of Native Deodorants is evocative of Dollar Shave Club, which was purchased by Unilever last year for $1 billion.
