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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. 🤓
Newcomers welcome to HTE's hub! Join 35k+ CEOs, CMOs, and marketers for game-changing insights. Get ahead, sign up for brilliance, and let's rise together! 🚀
🎵Eric Church and Morgan Wallen Join Forces to Revive Field & Stream, Outdoor Icon
👗Exclusive: Millie Bobby Brown Debuts Fashion Line, Florence By Mills Fashion
🥥The Coconut Collab Secures £1.5m in Funding
🍷 LVMH Wine and Spirits Sales Decline in 2023
🚫 Smucker Ceases Knott’s Berry Farm Brand
Music Superstars Eric Church and Morgan Wallen Unite to Revive Field & Stream, Beloved Outdoor Brand
25 January 2024, PR Newswire
Country music stars Eric Church and Morgan Wallen, alongside a team of experts, have acquired and are relaunching Field & Stream, a renowned outdoor brand dating back to 1871. They bought the retail and media sides, aiming to unify the brand's ownership for the first time in 150 years. The relaunch includes a membership community, the Field & Stream 1871 Club, bringing back the print magazine and offering exclusive benefits like access to a music festival. Ten percent of club profits will support outdoor causes. Doug McNamee, formerly of Magnolia, leads the brand, while Colin Kearns remains editor-in-chief.
The relaunch aims to preserve Field & Stream's legacy and authenticity while expanding its reach through strategic partnerships and a new online marketplace. Church and Wallen express their passion for the outdoors and commitment to carrying on Field & Stream's tradition of storytelling. 🌲🎣🎶
EXCLUSIVE: Millie Bobby Brown Launches Fashion Line, Florence by Mills Fashion
24 January 2024, WWD
Actress Millie Bobby Brown ventures into fashion with her brand Florence by Mills Fashion, partnering with Delta Galil USA. Starting with skincare and beauty, Brown's passion expanded into various categories including coffee, fragrance, pets, and now fashion. The move marks a significant expansion for the brand known for its youthful appeal.
Florence by Mills Fashion joins Delta Galil USA's portfolio, which includes popular fashion companies like Seven For All Mankind and Splendid. Brown expressed excitement about the new venture, highlighting the importance of accessible coffee and stylish pet accessories. The launch reflects Brown's entrepreneurial spirit and desire to cater to diverse consumer interests. 🌟👗🐾☕
The Coconut Collab closes £1.5m funding round
26 January 2024, The Grocer
The Coconut Collab, a coconut-based desserts and dairy alternative brand, has successfully closed its Series B funding round with a £1.5m investment. Existing shareholders, including Ground Force Capital, contributed to the investment, which will be utilized to accelerate growth in the UK and Europe and establish a stronger mainstream presence. Despite challenges like the cost of living crisis affecting the plant-based category, founder James Averdieck remains optimistic, citing the enduring demand for healthier and natural products.
The brand plans to introduce more innovative products, expand supermarket listings, and increase brand awareness with the help of this investment. This follows a successful Series A round in 2020, which enabled international growth and brand marketing efforts. The Coconut Collab aims to maintain its impressive sales growth and enhance its product portfolio to meet evolving consumer needs. 🥥💰🌱
LVMH Wine And Spirits Sales Fall In 2023
26 January 2024, The Spirit Business
In 2023, LVMH's wine and spirits sector faced a 4% organic revenue decline, dropping from €7.099 billion to €6.602 billion, with a 2% decrease in profit. The dip was attributed to tough comparisons and high inventory levels in the prior year. Hennessy Cognac encountered varied recovery in China but softened demand in the US due to COVID-19.
Despite uncertainties, LVMH remains optimistic for 2024, emphasizing brand development, innovation, and quality. In contrast, 2022 was strong, with a 19% revenue increase to €7.09 billion and a 16% rise in profit. Notable initiatives included a limited edition bottle collection by artist Yang Yongliang and a multi-million-euro investment in a Paris bar. Hennessy's collaboration with rapper Nas marked 50 years of hip hop in 2023. 🍷💼📉
Smucker Discontinues Knott’s Berry Farm Brand
23 January 2024, Food Business
J.M. Smucker discontinues Knott’s Berry Farm brand, citing a strategy shift to focus on high-growth areas. The decision impacts jams, jellies, and preserves lines acquired in 2008. Fans can still find products online through Knott’s Berry Farm theme park. The brand's legacy traces back to the Knott family's farming origins in the 1920s. 🍓 #EndOfAnEra #NewDirections
Weekly Recap! 🔙✨
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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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