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Weekly Round Off With HTE 🔙✨
🌟 Hey there, dear readers! It's that time of the week again when we gather around to catch up on the latest and greatest in the Direct-to-Consumer (DTC) world. 🚀
So, let's get this party started! 🎉
Welcome back to another exciting edition of our DTC (Direct-to-Consumer) Insider newsletter. 📰 Our mission: to serve you the freshest news and insights straight from the heart of the DTC universe. 💡 With every update, we're arming you with the knowledge to be the smartest one in the room. 🤓
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Starco Brands Announces Fourth Quarter and Full Year 2023 Results and Business Update
Playboy Spirits' PLAY HARD Vodka Seltzer Expands to Illinois and Announces Partnership with the Chicago White Sox
Manzanita Capital explores £400m sale of Space NK
L’Oreal Eyes Stake in €3 Billion Perfume Brand Amouage
Full Glass Wine acquires DTC wine subscription brand Bright Cellars
Starco Brands Announces Fourth Quarter and Full Year 2023 Results and Business Update
3 April 2024, Business Wire
Starco Brands, Inc. provides a business update alongside its 10-K filing for 2023, highlighting impressive growth and strategic acquisitions. 📈 The company, acquiring Soylent in February 2023, emphasizes successful integration and profitability across brands. CEO Ross Sklar expresses pride in team achievements, emphasizing growth initiatives and operational efficiency. Notable highlights include Skylar's revenue surge and innovative product launches, Soylent's expansion in distribution and flavors, and Whipshots' retail success and strategic partnerships.
Financially, reported net revenue for 2023 saw significant growth. The company projects continued growth for 2024, expecting between $78 to $82 million in revenue and $8 to $10 million in Adjusted EBITDA. 🚀
Playboy Spirits' PLAY HARD Vodka Seltzer Expands to Illinois and Announces Partnership with the Chicago White Sox
4 April 2024, PR Newswire
🍹 Playboy Spirits' PLAY HARD premium vodka seltzers expand to Illinois, featuring the iconic "Bunny Head" on sleek cans. Crafted with gluten-free vodka and natural flavors, it targets Gen Z and Millennials. CEO Marc Bushala aims to elevate RTD market with quality and sophistication. Inspired by Playboy's art collection, flavors include Mango Dragon Fruit and Grapefruit Yuzu. In a milestone partnership, PLAY HARD becomes the official RTD sponsor of the Chicago White Sox, tapping into the city's vibrant energy. This collaboration celebrates Playboy's Chicago roots and baseball spirit. With a nod to both brands' legacies, PLAY HARD embodies boldness and creativity. 🎉
Manzanita Capital explores £400m sale of Space NK
4 April 2024, The Industry wire
Manzanita Capital plans to sell Space NK, a British retailer, for up to £400 million. The private investment firm is considering a partial or full sale after over two decades of ownership. Space NK, with 76 stores and 1,000+ employees, reported a 23% turnover increase to £146 million. EBITDA surged to £5.9 million from £2.2 million in 2022, attributing growth to strategic investments. Manzanita, undecided on selling a minority or controlling interest, previously explored a sale in 2018 but didn't proceed. The decision on hiring bankers for the sale is imminent. Space NK's success underscores its potential value in the market. 🛍️💼📈
L’Oreal Eyes Stake in €3 Billion Perfume Brand Amouage
4 April 2024, Bloomberg
L’Oreal SA is mulling over investing in Omani luxury fragrance firm Amouage, potentially purchasing a minority stake valued at over €3 billion ($3.2 billion). Founded in 1983, Amouage capitalizes on Oman's cultural heritage, with perfumes priced up to €365 per bottle. Retail sales surged to over $210 million in 2023. L’Oreal’s interest aligns with its strategy of expanding its cosmetic and perfume portfolio, evidenced by its recent acquisition of Aesop. Stock fluctuations follow L’Oreal’s disappointing sales due to reduced Chinese traveler purchases. The outcome of talks remains uncertain, while other investors may express interest. L’Oreal stock dipped slightly to €419.80. 🌟🛍️💼
Full Glass Wine acquires DTC wine subscription brand Bright Cellars
4 April 2024, Modernretail
Full Glass Wine Co continues its spree, acquiring Bright Cellars, a subscription-based wine business, after recently buying Winc and Wine Insiders. The undisclosed purchase aims to streamline Bright Cellars' operations while maintaining its brand identity. Full Glass Wine also secures $14 million in Series A funding. Neha Kumar, Co-Founder, plans to offer shared operational and marketing services to DTC wine businesses in its portfolio. Despite challenges in the DTC wine market, the consolidation strategy seeks to enhance market reach and efficiency. Full Glass Wine emphasizes preserving each brand's distinct identity while leveraging synergies for growth. 🍷💼💰
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As we wrap up this edition of our newsletter, we hope you found the blend of news and insights as invigorating as we did. The world of DTC and beyond continues to evolve, and staying informed is the key to success. Keep those entrepreneurial spirits high, and remember, we're here to keep you ahead of the game. 🚀🌟📰
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