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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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Spindrift Is Exploring Strategic Options Including a Sale
Elemis Opens Standalone Store in London’s West End
Patchology Parent Company Rare Beauty Brands Explores Deal Options
Mercari Ends Selling Fees, Debuts New Returns Policy
Amazon says it removed over 7M fake goods in 2023
Spindrift Is Exploring Strategic Options Including a Sale
27 March 2024, Bloomberg
Spindrift Beverage Co., known for its sparkling water and low-calorie alcoholic lemonade, is considering strategic options, potentially including a sale. With net sales surpassing $300 million annually, the Newton-based company has engaged advisors to gauge interest from potential buyers. Beverage giants like Pepsico, Keurig Dr Pepper, and Monster Beverage traditionally assess companies at a multiple of sales.
Founded by CEO Bill Creelman, Spindrift, backed by investors including VMG Partners and KarpReilly, competes with brands like Waterloo Sparkling Water and Poppi. The news arrives amidst growing competition in the beverage sector, with brands like Olipop also gaining traction. Spindrift has not yet responded to requests for comment. 🥤📈💼
Elemis Opens Standalone Store in London’s West End
27 March 2024, Beauty Packaging
Elemis, a British skincare brand owned by L’Occitane, is set to launch its first standalone store in London's Covent Garden this spring. Spanning 1,000 square feet at 23 Monmouth St., it will join premium beauty brands like Aēsop and Kiehl’s in the Seven Dials shopping district. Susan Harvey, Elemis UK's general manager, emphasizes their commitment to delivering premium skincare.
Michelle McGrath, executive director for Shaftesbury Capital, sees Elemis' arrival as a testament to the area's appeal for leading brands. This expansion follows Elemis' recent introduction at Sephora in the U.S., marking further strides in its global presence. 🌟🛍️🌿
Patchology Parent Company Rare Beauty Brands Explores Deal Options
28 March 2024, WWD
Another player in the beauty market is making headlines! Rare Beauty Brands, the company that owns popular brands like Patchology and Dr. Dana Beauty, is reportedly exploring potential deals according to sources close to the company.
Industry insiders told WWD that Rare Beauty Brands has hired investment bank DC Advisory to consider its options. This move suggests the company might be on the lookout for acquisition or merger opportunities. The news comes as Rare Beauty Brands boasts annual sales of around $30 million.
While specifics of the deal options are unknown, the involvement of DC Advisory indicates Rare Beauty Brands is seriously considering a strategic move. Whether they choose to be acquired by a larger player or merge with another company remains to be seen.
Mercari Ends Selling Fees, Debuts New Returns Policy
29 March 2024, Retail Dive
Mercari is revolutionizing the online marketplace by eliminating seller fees, setting a new standard in peer-to-peer selling. 🛍️ CEO John Lagerling emphasizes their commitment to simplifying and rewarding secondhand selling, enabling sellers to competitively price items and retain earnings. This move comes amidst ongoing debates over seller fees, exemplified by Etsy's controversial fee hike in 2022 that prompted seller strikes. Mercari's fee cut follows its focus on enhancing customer experience through AI, introducing Merchat AI for personalized product recommendations. With this bold step, Mercari aims to attract more sellers and solidify its position as the go-to platform for those looking to sell unused items. 🚀
Amazon says it removed over 7M fake goods in 2023
29 March 2024, Retail Dive
Amazon disclosed investing $1.2 billion in 2023 to combat counterfeits, with 15,000 staff dedicated to the cause. The Counterfeit Crimes Unit has tackled over 21,000 offenders since 2020. Dharmesh Mehta emphasized trust in their selling experience. Amazon's Counterfeit Crimes Unit, established in 2020, includes investigators and data analysts. Last year, they introduced the Anti-Counterfeit Exchange for tracking counterfeit products.
Lawmakers responded with the INFORM Consumers Act in 2021, backed by retail CEOs like Target, which became law in 2023. It mandates online marketplaces to verify the identifying information of high-volume third-party sellers yearly. The move aims to enhance transparency and curb counterfeit sales. 🛒💼🔍
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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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