Colgate Looks to Invest in Online Contact Lens Seller

They would start a subscription service together.

Colgate-Palmolive Co. is considering investing in online contact lens seller Hubble, the Wall Street Journal reports.

The companies are “close to a deal,” according to the newspaper, which cited unnamed sources “familiar with the matter.” Colgate would own a minority share in the startup.

If the deal goes through, the companies would seek to develop a subscription service together to sell sertain Colgate items, such as teeth-whitening products. 

Colgate “knows it has to act now to start planning for the day when its products, like so many grocery and health and beauty products, will be bought online,” Richard Kestenbaum of Triangle Capital LLC writes in an article for Forbes.

“Investing in Hubble and experimenting with direct-to-consumer sales allows Colgate to learn more of what it will need to do to be ready for the day when everything will change,” he writes.

Read more at the Wall Street Journal