The news: Unilever acquired men’s personal care brand Dr. Squatch—which recently made headlines for offering soap containing actress Sydney Sweeney’s bathwater—for an undisclosed amount as it looks to establish a greater foothold in the fast-growing category.

It’s a notable move for a company that is otherwise shedding brands to speed its turnaround, and a clear sign that Unilever counts men’s personal care as one of the “premium and high growth spaces” to prioritize.

Saks’ growth play: Unilever isn’t the only company banking on male spending power to revive growth. Saks Global has made scaling its menswear business its “number one priority,” the company’s president and chief commercial officer, Emily Essner, said at a presentation during Pitti Uomo.

• While only around one-fifth of the company’s customers purchase menswear, those shoppers tend to be both younger and more affluent than the rest of its clientele, executives told Women’s Wear Daily.
• They also have a greater preference for in-store shopping, and are more reliant on sales associates for guidance—which is great news for Saks, given its extensive physical footprint and team of 3,400 stylists that can offer personalized advice and suggestions.
• To sharpen its appeal to menswear customers—especially younger ones with fewer fixed ideas about fashion—Saks plans to add more contemporary and entry-level brands, even as it reduces its overall brand count by 25%.

The big picture: While men have historically accounted for a sliver of consumer spending, their share is likely to rise this year thanks to a confluence of factors.

Men are more upbeat about the state of the economy. While consumer sentiment overall is lower now than at the end of 2024, there is a growing gender divide: Women are more likely to believe the economy and inflation are worsening compared with men, according to a May survey conducted by The Harris Poll for The Guardian.

• Men are considerably less worried about rising food prices, which reflects their more limited role in household purchase decisions—but they’re also more confident in their financial security than women, which could give them more assurance to make discretionary purchases.
• Just 1 in 4 men (26%) reported spending more time to find deals or visiting more affordable stores, compared with 36% of women—a statistic that supports Unilever’s bet on premium men’s care, as males may be less price-sensitive.

Shifting gender norms and rising interest in wellness have led to a boom in men’s personal care—which celebrities like Jake Paul, LeBron James, and Dwayne “The Rock” Johnson have been quick to capitalize on—as well as in categories like skincare and makeup.

• Nearly 7 in 10 Gen Z men ages 18 to 27 use facial skincare, according to a 2024 Mintel survey. And they’re not just going for drugstore products: 42% buy premium moisturizers over mass market brands.
• Makeup for men is also being normalized by “hetero dude” influencers on TikTok, leading more consumers to incorporate products like concealer, blush, and lip gloss into their daily routines.

Our take: While men are hardly a monolithic entity, their optimism about the economy makes them more likely than women to increase their spending this year. At the same time, shifting consumption habits are turning male consumers into a more valuable commodity—as Saks and Unilever see only too clearly.