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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. 🚀
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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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Deuxmoi Taps Violet Grey To Carry Her First Fragrance
Natura & Co Launches Corporate Venture Capital Fund
NIO Cocktails Gains Investment
Katy Perry-Backed Food Products Firm Bragg Explores Sale, Sources Say
Research Briefing: How Are Retailers Using Buy Now, Pay Later
Deuxmoi Taps Violet Grey To Carry Her First Fragrance
20 June, 2024, Glossy Co.
Deuxmoi, Instagram's top source for celebrity gossip, has launched a perfume now available at Violet Grey. This collaboration began with Deuxmoi boldly reaching out via DMs and emails, inspired by the motto, "You miss 100% of the shots you don’t take."
The fragrance, "Plage," was co-created with Melanie Apple, founder of Voyage et Cie. After seeing their work with Kourtney Kardashian, Deuxmoi proposed the partnership on Instagram. She brought her favorite old fragrance oils to L.A., aiming for a luxury suntan lotion scent.
Initially launched on deuxmerch.com, Deuxmoi later reached out to Violet Grey to offer "Plage" in-store. Violet Grey's chief brand officer, Sarah Brown, embraced the idea, noting the $75 perfume's quality and accessibility compared to their usual high-end offerings.
To promote the June 20 launch, Deuxmoi and Violet Grey teased it on Instagram and planned collaborative content. Violet Grey's Melrose Place store features signed bottles, adding a collector's touch. Brown praised Deuxmoi’s beauty knowledge, enhancing the product’s allure. 🌴✨
Natura & Co Launches Corporate Venture Capital Fund
21 June, 2024, Global Cosmetics News
Natura &Co has unveiled a corporate venture capital fund called Natura Ventures. This initiative will be managed in collaboration with impact investment firm Vox Capital.
Natura Ventures has an initial capital of R$50 million and plans to invest in approximately 15 start-ups within the circular economy, beauty, and customer service technology sectors.
José Manuel Silva, Vice President of New Business at Natura & Co. Latin America, stated that the company has been engaged in open innovation for over two decades. Although they have previously participated in corporate venture capital, they lacked a formal VC instrument. Over the past nine months, Natura &Co has been meticulously planning for the future, and the establishment of Natura Ventures is a strategic move to enhance its innovation efforts. Silva emphasized that this new fund will significantly bolster their ability to drive innovation.
NIO Cocktails Gains Investment
21 June, 2024, The Spirit Business
NIO Cocktails, an Italian ready-to-drink brand founded by Luca Quagliano and Alessandro Palmarin in 2017, has received an undisclosed investment from The Growth Foundation (TGF). This investment aims to bolster NIO's leading position in direct-to-consumer sales and facilitate future growth. Known for its letterbox-friendly cocktail pouches, NIO expanded into the UK in 2019 and supplies luxury hotels, airlines, and retailers, with co-branded cocktails from Singleton, Teeling, Cointreau, and Portofino Dry Gin. Following TGF’s investment, NIO has announced a new ownership and operational structure, with the founders stepping down as co-CEOs to become brand ambassadors.
They expressed pride in growing NIO into a company with over 50 employees and operations in the UK, Italy, and Germany. TGF co-founder Richard Chapple highlighted the potential for growth in e-commerce for spirits, praising NIO's innovative packaging. In April, NIO introduced four new drinks inspired by Italian coffee culture.
Katy Perry-Backed Food Products Firm Bragg Explores Sale, Sources Say
19 June, 2024, Reuters
Bragg Live Food Products, backed by celebrities Katy Perry and Orlando Bloom, is exploring a sale that could value the apple cider vinegar maker at over $500 million, including debt, according to insiders. The Santa Barbara-based company, also supported by investment firm Swander Pace Capital, is collaborating with Bank of America to attract potential buyers, including private equity firms. Neither Swander Pace nor Bank of America commented, and Bragg did not respond to inquiries.
Founded in 1912 by Paul Bragg, the company is famous for its apple cider vinegar and other products like salad dressings, seasoning blends, olive oil, beverages, and food ingredients. Patricia Bragg, Paul's adopted daughter, managed the business for 65 years before it was sold in 2019 to Perry, Bloom, Dragoneer Investment Group, and Hayden Slater. Bragg's products are sold in supermarkets, e-commerce platforms, and natural food stores worldwide. The owners aim for a valuation of at least 10 times the company's EBITDA of around $50 million. The food ingredients sector has seen recent dealmaking activity, with Butterfly Equity and Falfurrias Capital exploring sales of Chosen Foods and Sauer Brands, respectively.
Research Briefing: How Are Retailers Using Buy Now, Pay Later
20 June, 2024, Modern Retail
Apple is discontinuing its buy now, pay later (BNPL) plan via Apple Pay and will instead partner with third-party BNPL providers like Affirm and Klarna. The BNPL industry has seen significant growth, prompting interest from the Consumer Financial Protection Bureau regarding potential regulations, which currently vary by company. Consequently, many businesses prefer collaborating with established BNPL firms rather than developing their systems.
Retailer adoption of BNPL programs varies by sector. Drugstores, such as Walgreens and CVS, lag in online payment options, primarily accepting PayPal. In contrast, Rite Aid boosts the average by offering Apple Pay, Google Pay, and perks for American Express users. Dollar stores are modernizing with digital checkouts; Dollar General added PayPal, and Dollar Tree expanded its PayPal Credit options. Home goods retailers, like Lowe’s, typically offer their own BNPL and financing options, addressing the need for financing big-ticket items.
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