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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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STORY3 Capital Partners Scores Big with Additional $100M for Fund II
Private Equity Firm West Lane Capital Partners Acquires Mented Cosmetics
IW Capital injects a further £3m into Daily Dose
Sephora, Perfumes, and Cosmetics Drive LVMH Sales Growth
How Shein’s content is keeping up with its fast-paced supply chain
STORY3 Capital Partners Scores Big with Additional $100M for Fund II
Apr 19, 2024, SEC
Consumer investment firm STORY3 Capital Partners has bolstered their Fund II with an extra $100 million. This news indicates strong backing for the firm's strategy of investing in consumer-focused businesses.
The announcement mentions some of STORY3 Capital Partners' previous successful investments, including Casa Dragones Tequila, FIGS, and Harry's. This track record likely played a role in securing the additional funding for Fund II.
Private Equity Firm West Lane Capital Partners Acquires Mented Cosmetics
Apr 19, 2024, Beauty Independent
West Lane Capital Partners has acquired Mented Cosmetics, expanding its beauty portfolio. Mented joins Blooming Brands, alongside other beauty labels. Michael Wentz, VP at West Lane, sees Mented's strong reputation and social media success as key assets. The immediate focus is relaunching Mented's e-commerce, emphasizing product availability and customer trust. Co-founder KJ Miller cites West Lane's industry expertise as a reason for the partnership. Mented, known for catering to women of color, aims to continue its mission under this collaboration. Previously securing $9 million in venture funding, Mented faced challenges in a shifting market landscape but sees this acquisition as an opportunity for sustained growth in the beauty sector.
IW Capital injects a further £3m into Daily Dose
Apr 19, 2024, Food Bev
IW Capital has invested an additional £3m into UK-based Daily Dose, a cold-pressed juice company. Daily Dose, part of IW Capital's portfolio, will utilize the funds for further growth, partnering with British farmers to repurpose waste produce into its juice products. Since IW Capital's initial investment in 2023, Daily Dose has seen rapid expansion, securing new contracts and opening a new production facility in Corby. The follow-up investment will support the full launch of the Corby site, as well as bolster marketing efforts, sales, and recruitment. Isobel Egemole, investment director at IW Capital, praises Daily Dose's growth, while founder George Hughes-Davies expresses readiness for expansion and hiring.
Sephora, Perfumes, and Cosmetics Drive LVMH Sales Growth
Apr 16, 2024, Business of Fashion
LVMH's Selective Retailing unit shone in its first-quarter results, boasting an 11% organic sales increase, driven by Sephora's remarkable growth. While overall LVMH sales rose 3%, concerns about cooling luxury demand amidst economic growth proved valid. Sephora expanded its store network, notably in the US, Europe, and the Middle East. However, the duty-free business within Selective Retailing still lags behind pre-Covid levels due to slow international travel resurgence.
Perfumes and cosmetics surged by 7%, with Dior perfumes leading, especially with hero products like Sauvage and J'Adore. Maison Francis Kurkdjian's Baccarat Rouge 540 also gained viral popularity. This resilience contrasts with the softening demand reported by Ulta Beauty, causing stock declines across the beauty industry.
How Shein’s content is keeping up with its fast-paced supply chain
Apr 19, 2024, Modern Retail
Shein aims to match its content production pace with its rapid clothing launches, utilizing an in-house team and livestreaming. Marisa Runyon, head of content creation, emphasized the need for quick-turn content to align with product releases. Shein initially gained traction organically through social media, prompting Runyon to develop a dedicated content strategy upon joining in 2022. The company's in-house production crew responds swiftly to fashion trends, reflecting its young consumer base. Livestreaming, featuring entertainment and education, has become a cornerstone, with shows attracting hundreds of thousands of viewers. Shein diversified its talent pool, focusing on engaging personalities rather than follower count. Shows run for about seven minutes, balancing entertainment and sales pitches. Runyon emphasized the importance of enhancing the viewer experience beyond product promotion.
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