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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. 🤓
🎄 Before we dive into the thrilling DTC updates, we want to take a moment to wish each and every one of you a Merry Christmas! 🎅
May your day be filled with joy, laughter, and the warmth of the holiday spirit. Here's to a season of sharing, caring, and creating wonderful memories. Cheers to you and your loved ones! 🥂✨
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🎉 Loverboy debuts First Zero-Sugar, Full-Flavor Non-Alcoholic Sparkling Teas! 🍹
🦐 TômTex raises seed round to 4.15 million US dollars for shrimp fabric! 💰
🤖 Research Briefing: How marketers are actually using generative AI! 📊
👟 Nike unveils $2B cost-savings plan to drive growth, profitability! 💼💲
💼 Private equity firm agrees to buy Uoma Beauty assets! 🛍️🤝
🎉 Loverboy Debuts First Zero-Sugar, Full-Flavor Non-Alcoholic Sparkling Teas! 🍹
19 December 2023, PR Newswire
Loverboy, a leader in premium sparkling hard teas, introduces non-alcoholic versions of its popular flavors, White Tea Peach and Lemon Iced Tea. Branded as zero-sugar, low-calorie, and low-carb alternatives, both teas, brewed with organic tea, boast a mere 10 calories per can. CEO Kyle Cooke emphasizes maintaining flavor and sparkle while offering a healthier option.
In collaboration with sober advocate Carl Radke, Loverboy aims to support a wellness-focused lifestyle. The first 50 buyers can join a virtual happy hour with Kyle and Carl during Dry January. Priced at $32.99 for a 12-pack, the non-alcoholic teas are available on DrinkLoverboy.com, with expanded retail availability in the spring.
🦐 TômTex Raises Seed Round to 4.15 Million US Dollars for Shrimp Fabric! 💰
18 December 2023, Fashion United
New York biomaterial producer TômTex concluded a successful $2.25 million seed funding round, led by Happiness Capital with support from SOSV, Parley for the Oceans, and MIH Capital. TômTex, known for its innovative chitosan-based textile derived from seafood shells and mushrooms, previously raised $1.9 million in a pre-seed round, bringing the total to $4.15 million.
Founder Uyen Tran expressed excitement over the funds, earmarked for team growth, key hires, and expanded manufacturing. TômTex's biodegradable material, used in high-profile fashion collaborations, is sourced from shrimp shells and mushrooms, offering scalability through repurposing existing food waste. The startup achieved a significant production milestone and plans further expansion to meet commercial demand.
🤖 Research Briefing: How marketers are actually using generative AI! 📊
21 December 2023, Modern Retail
Modern Retail+ Research's latest update on Emerging Technologies reveals the evolving landscape of AI applications in marketing since the previous year. The report, based on a survey of 118 respondents and interviews with AI industry executives, highlights chatbots and AI assistants as the predominant AI technologies employed by marketers, chosen by 51% in 2023 and 78% in 2022.
Notably, the sustained popularity of chatbots is attributed to advancements in generative AI, exemplified by OpenAI's ChatGPT, a widely adopted and regularly updated chatbot. Additionally, major players like Google are introducing enhanced language models, such as Bard, indicating a broader trend of integrating AI into various applications beyond chatbots, including email and text generation. Marketers leveraging such technologies aim to enhance customer interactions and engagement.
👟 Nike Unveils $2B Cost-Savings Plan to Drive Growth, Profitability! 💼💲
22 December 2023, Retail Dive
Nike, following its Q2 earnings report, unveiled a cost-cutting plan targeting $2 billion in savings over three years, with a focus on reinvesting in growth and innovation. The strategy involves simplifying the product portfolio, increasing automation, organizational streamlining, and leveraging scale for efficiency.
Anticipating pre-tax restructuring charges of $400 million to $450 million in Q3 fiscal 2024, the company reported Q2 revenues of $13.4 billion, up 0.5% YoY, and a net income of $1.6 billion, up 18.6%. Facing a challenging quarter with a 3.5% decline in North America revenue, Nike aims to accelerate innovation, enhance marketplace experiences, and improve speed and responsiveness through restructuring.
💼 Private Equity Firm Agrees To Buy Uoma Beauty Assets! 🛍️🤝
21 December 2023, Retail Dive
Private equity firm MacArthur Beauty has confirmed the acquisition of Uoma Beauty's assets, expressing the intention to revive the brand with its diverse shades and attractive packaging. Uoma Beauty faced challenges, receiving a notice from the U.K. government in November, which has now been suspended.
Founder Sharon Chuter, who resigned as CEO in May, plans to contest the asset sale, citing the ordeal as a cautionary tale of founder-investor dynamics. MacArthur Beauty claims no contact with Chuter, while emails to Uoma Beauty's press email bounced back. The acquisition signals a bid to rescue and rejuvenate the beleaguered beauty brand.
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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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