Would You Spend $1.50 For A Razor Blade?
In April, 1995, Gillette CEO Alfred M. Zeien went to his board with an audacious proposal. He wanted the green light to develop a new triple-bladed razor that would require "the biggest capital investment in our history," he recalls. Not surprisingly, the directors--including Warren E. Buffett--asked to see the goods. But Zeien refused, holding firm even after one director argued that "we have the right to ask any question we want." It wasn't until last November, when the Mach3 was rolling off a production line in South Boston, that the board finally got to try Zeien's brainchild.
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