CORRECTION: The Washington Examiner has updated this story to remove the suggestion that Gillette lost $8 billion due to its #MeToo-inspired advertising campaign. We regret that this article did not adhere to the Washington Examiner 's normal standards and procedures.

The CEO of Gillette said he does not regret his company's controversial marketing campaign inspired by the #MeToo movement, despite losing some loyal customers over it.

Gary Coombe called the loss of revenue from those customers a "price worth paying" in a Monday interview with Marketing Week. Procter & Gamble, the parent company of Gillette, announced Tuesday they had taken over $5 billion in losses for the quarter, after Gillette had an $8 billion noncash writedown after its market share for razors fell over the last three years.

"I don’t enjoy that some people were offended by the film and upset at the brand as a consequence. That’s not nice and goes against every ounce of training I’ve had in this industry over a third of a century," he said. "But I am absolutely of the view now that for the majority of people to fall more deeply in love with today’s brands you have to risk upsetting a small minority and that’s what we’ve done."

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Gillette was acquired by Proctor & Gamble in 2005 for $57 billion. In devaluing it by $8 billion, the parent company blamed currency fluctuations, new competitors, and new social norms that have led to men shaving less often. There is no evidence that the "best a man can get" ads pushing back against sexism and bullying contributed to the $8 billion figure.

Coombe said that the #MeToo ad the company put out in January was an attempt to capture market share among millennials, a category in which they were losing market share to Harry's and Dollar Shave Club.

In January, Gillette ran the short film "We Believe: The Best Men Can Be" which took on "toxic masculinity" and the #MeToo movement. Some criticized the ad for "virtue signaling" and making broad generalizations about male behavior. In May, Gillette also ran an ad depicting a man teaching his transgender son how to shave for the first time.

"It was pretty stark: we were losing share, we were losing awareness and penetration, and something had to be done," Coombe said, adding they decided to "take a chance in an emotionally-charged way."

Coombe said he had been surprised by the "intense" backlash but said the transgender ad was "less provocative" than other versions they had created.

P&G purchased Gillette, the largest shaving brand in the world, in 2005 for $57 billion.

