Procter & Gamble has announced that it will lower the price of some of its razor blades in a bid to make them more competitive, according to a report published by Fortune.

The US FMCG giant’s CFO Jon Moeller told analysts that prices for select Gillette lines will fall by as much as 20 percent in a bid to close any gaps in its offer.

“We’ll soon be making pricing interventions to better position our brands at all levels of the pricing ladder,” said Moeller. “We are making smart adjustments across the line-up to restore a historical model and proven strategy.”