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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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Our Home Accelerates Growth with Strategic Acquisition of Sonoma Creamery
Mother Science Closes Us$3.5 Million Funding Round
Freeze-Dried Candy Maker Sow Good Prices Nasdaq Uplisting At $10
Olaplex Progresses With Transformation Plan Despite Further Sales Declines
Bubs Australia’s Quarterly Gross Revenue Rises 25.9 percent
Our Home Accelerates Growth with Strategic Acquisition of Sonoma Creamery
3 May 2024, PR Newswire
Our Home, known for providing delicious, wholesome snacks across the U.S., proudly announces the successful acquisition of Sonoma Creamery. This exciting move expands Our Home's reach and offerings, strengthening its commitment to delivering quality snacks to its customers nationwide.
Our Home accelerates growth with strategic acquisition of Sonoma Creamery
"Our Home's expansion into the cheese snack category through this acquisition reaffirms our position as a top independent better-for-you snacking platform," says Aaron Greenwald, Founder and CEO of Our Home. "With Sonoma's 90+ years of expertise in cheese and dedication to quality, we're thrilled to offer the market's best-tasting and most premium cheese snacks." 🧀💼
Sonoma Creamery, established in 1931 in Sonoma, California, originally specialized in fresh cheese. In 2014, they ventured into making crispy, crunchy snacks using only rBST-free milk and natural ingredients. Their innovative baked cheese snack line, including Cheese Crisps and Cheese O's, is gluten-free certified and high in protein. Each flavor is perfect for snacking, pairing with dips, or as a topping, packaged in premium, resealable, and portable packaging.
Our Home gains Sonoma's production facility and warehouse in Sonoma, CA, adding to its existing eight manufacturing facilities across the country. This acquisition expands Our Home's product range, demonstrating its dedication to offering innovative and health-conscious snacks to its customers. 🏭
Mother Science Closes Us$3.5 Million Funding Round
3 May 2024, Global Cosmetic News
Mother Science, a skin care brand, has secured a significant investment of US$3.5 million in a funding round led by Greycroft. This infusion of capital aims to support various aspects of the company's operations, including research and development, further innovation, new product launches, and expanding their team.
The investment round was notable for the involvement of Katherine Power, a Partner at Greycroft, who will be joining Mother Science's Board of Directors. Power, renowned for her role as the Founder of Merit Beauty, Versed Skincare, and Avaline Wine, will be stepping into her first board position outside of her own ventures.
Power expressed her enthusiasm for Mother Science's potential, particularly highlighting the transformative properties of malassezin found in the Mother Science Molecular Hero Serum. She looks forward to collaborating with Ann Marie and Michael, the minds behind Mother Science, to advance their vision, assemble a strong team, and foster exponential growth for the company.
Freeze Dried Candy Maker Sow Good Prices Nasdaq Uplisting At $10
2 May 2024, Renaissance Capital
Sow Good, the maker of yummy freeze-dried treats, scored big with a $12 million funding boost! They offered 1.2 million shares at $10 each, 📈 lower than their last closing price on the OTC ($10.98). And guess what? They ended up offering 0.3 million more shares than expected! 🎉
This candy company started selling its goodies commercially in early 2023. Their game plan? A mix of wholesale and retail magic! By the end of 2023, they had 18 different products hitting shelves in over 5,850 stores across the US. 🛒
Now, Sow Good's eyeing a spot on the Nasdaq under the symbol SOWG, with Roth Capital leading the charge as the sole bookrunner. 🚀
Olaplex Progresses Transformation Plan Despite Further Sales Declines
2 May 2024, The Industry Beauty
Olaplex had a tough first quarter. Despite working hard on their new business plan, their sales dropped by 13.1% to £79.2 million ($98.9m). Sales went down by 2.5% in the US and by a bigger 24.3% internationally.
Breaking it down:
Sales to professionals fell by 19.9% to £31 million ($38.7m).
Specialized stores saw a small 1.2% drop to £27.5 million ($34.4m).
Sales directly to customers online went down by 15.7% to £20.5 million ($25.7m).
Their profits also took a hit, going down by 63.1% to £6.2 million ($7.7m), and adjusted profits went down by 34.4% to £16.4 million ($20.5m). 😔
But Olaplex isn't giving up. They're sticking to their plan for the rest of the year. They're hoping to make between £348-370 million ($435-463m) in sales, with adjusted profits of £69-80 million ($87-100m), and earnings before expenses of £114-127 million ($143-159m). 💼
Amanda Baldwin, Olaplex's CEO, said, "We're making progress, despite the tough start. I believe we're on track to meet our goals for 2024." 👍
Their plan focuses on making things better for hairdressers, improving their products, and stopping their products from being sold through unauthorized channels. 🚀
Bubs Australia’s Quarterly Gross Revenue Rises 25.9 Per Cent
30 April 2024, Inside FMCG
In the third quarter, Bubs Australia made a big 25.9% more money, hitting $19.9 million! 🎉 Why? Because lots of people in the US love their goat's milk baby formula! 🐐🍼
The boss, Reg Weine, said the USA part of the business grew a whopping 82.8%, adding $5.8 million more than last year. 📈
And guess what? 🤔 People in the USA are buying Bubs stuff like crazy! Sales hit around US$750,000 every week - a new record! 🚀
Plus, Bubs is making its US products look even better on the shelves and showing off how clean they are. ✨
Looking ahead to the fourth quarter, Bubs is feeling good about making even more money - they're aiming for over $100 million! 💰
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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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