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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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CPG Brands Are Ramping Up Product Development In 2024
Sanzo Adds: $8M (And Counting) In New Investment Round
MPearlRock Acquires Nutpods, a Popular and Rapidly Growing Plant-Based Creamer Company
Eurazeo Takes Stake in Ex Nihilo Niche Perfume Brand
Leaked email: Stitch Fix is building out a transformation office under new CEO Matt Baer
CPG Brands Are Ramping Up Product Development In 2024
19 Jan 2024, Modern Retail
After landing at Whole Foods in 2021 🛒, Soom Foods focused on operational efficiency in 2023, delaying product development. Despite external challenges, they launched tahini-brd snack bites at year-end, aiming to expand the line 🚀. This trend is seen across the food and beverage industry; startups like Proper Good shift focus from DTC to retail. Initially releasing a new flavor monthly, Proper Good reduced recipes by 50% after launching in Walmart 🥣. Now, with Walmart established, the brand resumes regular releases on its DTC platform 🔄. Liquid Alchemist paused launches for retail expansion, adapting to pandemic demand, and now prepares to launch falernum 🍹. As the market stabilizes, brands balance product development with new retail opportunities, shaping future strategies 🌐.
Sanzo Adds: $8M (And Counting) In New Investment Round
19 Jan 2024, Benvet
Petalfast, a key player in the cannabis industry, has secured a whopping $8 million in strategic equity financing 🌿💰. This big move, led by family offices with diverse interests, including beverage alcohol distribution, will fuel Petalfast's expansion across the U.S. 🇺🇸. Since its 2020 launch in California, Petalfast has been revolutionizing the market with its unique blend of strategies from the food and beverage sectors. This funding is set to boost their sales and retail services, helping cannabis brands thrive in a competitive landscape 🚀. With a seasoned team experienced in navigating regulated industries, Petalfast is all set for significant growth and innovation in the cannabis sector 🌱📈.
MPearlRock Acquires Nutpods, a Popular and Rapidly Growing Plant-Based Creamer Company
16 Jan 2024, Business Wire
MPearlRock, a joint venture between PearlRock Partners and MidOcean Partners, has acquired nutpods, a leading non-dairy coffee creamer brand. Founded in 2013 by Madeline Haydon, nutpods offers a healthier alternative with diverse flavors and a wholesome profile. It has become a major player in the plant-based, non-dairy creamer sector, available in 15,000+ stores nationwide.
Brian Kelley, CEO of MPearlRock, praises nutpods' success and plans to accelerate its growth. Madeline Haydon is excited to join MPearlRock, anticipating expanded consumer reach. Erik Oken from MidOcean emphasizes their commitment to scaling innovative, founder-led brands. Wayne Wu of VMG Partners, a previous investor, applauds nutpods' growth under their partnership. Madeline Haydon expresses gratitude for VMG's support and is eager about the brand's journey with MPearlRock. 🌱☕
Eurazeo Takes Stake in Ex Nihilo Niche Perfume Brand
18 Jan 2024, WWD
Eurazeo, a leading private asset manager, has completed a minority investment of approximately €25 million in Ex Nihilo, a French luxury perfume brand known for its unique and high-quality fragrances. This investment is in partnership with Ex Nihilo's co-founders Sylvie Loday, Olivier Royère, and Benoît Verdier, who maintain majority ownership. Ex Nihilo, established in 2013, stands out for its blend of modernity, personalization, and luxury craftsmanship. The brand is recognized globally, especially for its "Fleur Narcotique" perfume, and leverages technology for personalized fragrance experiences. Eurazeo's investment aims to support Ex Nihilo's growth across various channels and geographies, leveraging its expertise in brand building and digital capabilities.
Leaked email: Stitch Fix is building out a transformation office under new CEO Matt Baer
19 Jan 2024, Modern Retail
Stitch Fix, led by new CEO Matt Baer, is undergoing a major transformation, as revealed in a leaked email. Baer announced the establishment of a transformation office, headed by Cherizza Lundy, with a focus on key initiatives for foundational and long-term growth. The company is actively hiring for roles within this office. Baer, who took over in June, aims to revitalize Stitch Fix, responding to a 21% revenue decline in fiscal 2023. The company faces challenges in a changing retail landscape, with the styling model questioned by analysts. Baer's strategy remains undisclosed, but the emphasis on private-label clothing and a dedicated transformation team suggests a bold repositioning effort. 🔄💼
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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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