Mammoth Brands, the parent company behind Harry’s razors and Coterie diapers, is positioning itself as a modern successor to legacy consumer giants like Procter & Gamble and Unilever. With 2024 revenue reaching $835 million, the company is weighing an initial public offering as soon as the second half of 2026 to fuel its strategy of acquiring and scaling disruptive, online-led consumer brands.
Why Are Legacy CPG Giants Losing Market Share?
For decades, companies like Kimberly-Clark and Procter & Gamble maintained a near-total grip on household shelves. However, that dominance has faltered as consumers prioritize better prices, higher quality, and ingredient transparency over traditional brand recognition, according to Nik Modi, co-head of global consumer and retailer research for RBC Capital Markets. Modi notes that legacy companies often refer to these agile newcomers as “ankle biters,” though he suggests the industry has reached a “tipping point” where these threats are being taken much more seriously.
The shift is evident in the diaper market, a $5.43 billion industry in the U.S. according to Euromonitor International. Data shows that Procter & Gamble’s U.S. diaper volume declined 2% in its fiscal second quarter ending in December, with Pampers falling behind Kimberly-Clark’s Huggies for the first time since 2021. While Mammoth’s brand Coterie remains smaller than these incumbents, its rapid growth—including a nearly 60% revenue jump over the 12 months leading to October 2025—has forced legacy players to respond with new product lines designed to compete directly with upstart claims.
Mammoth’s co-CEO Andy Katz-Mayfield emphasizes that the company avoids “buying scale and growth” for its own sake. Instead, they target brands that are online-led but possess the potential to thrive in brick-and-mortar retail, aiming to hold these assets for the long term rather than flipping them.
How Mammoth Brands Operates Its Portfolio
Co-founded by Andy Katz-Mayfield and Jeff Raider, Mammoth Brands grew from the 2013 launch of Harry’s, a company born from Katz-Mayfield’s frustration with the cost of razor blades. The company’s strategy centers on a “Goldilocks” approach: providing the infrastructure and retail connections of a large corporation while allowing acquired brands to maintain their independence and autonomy.
The company’s growth has been fueled by targeted acquisitions. In 2021, Mammoth purchased Lume Deodorant, a move that helped the company refine its Amazon sales strategy and led to the launch of Mando deodorants in 2022. By late 2025, the company acquired Coterie, a premium diaper brand. According to Coterie CEO Jess Jacobs, 74% of parents are willing to pay more for “better-for-you” products, a sentiment that has helped the brand remain profitable over the last three years despite a premium price point of up to $1 per unit.
What Happens Next for the Potential IPO?
While reports suggest Mammoth is weighing an IPO for the second half of 2026, the company’s leadership remains focused on its current capital structure. “We’ve always been sort of more agnostic to what the structure is, but we certainly want a set up that allows us to have access to capital,” says Katz-Mayfield. The company currently generates nearly $100 million in adjusted earnings before interest, taxes, depreciation, and amortization.
Moving forward, Mammoth aims to maintain a pace of one or two deals per year, with a goal of reaching a portfolio of eight to 10 brands within three to four years. The company intends to stay within “everyday care and wellness” categories, explicitly avoiding human food and beverages, as it seeks to build a lasting, modern consumer goods platform.
Frequently Asked Questions
- Is Mammoth Brands currently a public company? No, Mammoth Brands is privately held, meaning pre-IPO investment opportunities are generally limited to accredited investors.
- Why did the Edgewell acquisition of Harry’s fail? In 2020, Edgewell Personal Care walked away from its $1.37 billion acquisition of Harry’s after the Federal Trade Commission sued to block the deal on antitrust grounds.
- What is Mammoth’s core business strategy? The company focuses on acquiring and scaling online-led brands in personal and baby care, leveraging their own e-commerce and retail infrastructure to expand the brands’ reach into stores like Target and Whole Foods.
Before co-founding Harry’s, Jeff Raider was a co-founder of the eyewear disruptor Warby Parker, bringing a background in direct-to-consumer business models to the foundation of Mammoth Brands.
Are you tracking the rise of challenger brands in your daily shopping routine? Share your thoughts in the comments below or subscribe to our weekly business newsletter for the latest updates on the consumer goods sector.
