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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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BrewDog Co-founder James Watt Backs CBD Drinks Brand
Kirin to Buy Japan Supplement Maker Fancl for More Than $1.4 Billion
Newport Craft Distilling Acquires KEEL Vodka, Expanding Their Spirits Lineup
Unilever Prestige CEO Vasiliki Petrou to Step Down
BREAKING: Cultivated meat co SCiFi Foods closes up shop, appoints firm to run sales process
BrewDog Co-founder James Watt Backs CBD Drinks Brand
Jun 13, 2024, The Drink Business
A UK drinks company has announced a six-figure seed investment round, with investors like Watt, Rubicon Drinks MD Neel Nagrecha, and Funkin’ Cocktails founder Alex Carlton 🎉. This funding will support the launch of Common's new range: two Lion’s Mane mushroom nootropic drinks for mental performance and two CBD drinks made with cold-pressed hemp 🌱. The drinks, in 330ml cans priced at £2.49, hit the market a few weeks ago.
Hemp, a cannabis sativa strain with less than 0.3% THC, is used in these CBD drinks. Common aims to position itself as a functional drinks brand, a booming market segment 🚀.
In May, BrewDog announced Watt's shift to a non-executive role after 17 years. Watt has faced controversies, including the death of 100,000 saplings planted for carbon sequestration and criticism over staff wages. He acknowledged raising wages by 20.4% since March 2022 but not enough to maintain Real Living Wage status.
Kirin to Buy Japan Supplement Maker Fancl for More Than $1.4 Billion
Jun 14, 2024, Morning Star
Kirin Holdings is set to acquire Japanese cosmetics and dietary supplement maker Fancl for over $1.4 billion, aiming to boost its health business. 🌟
The Japanese beer maker announced on Friday that it would spend 220.72 billion yen ($1.41 billion) to purchase the remaining shares in Fancl through a tender offer.
Kirin currently holds about a 33% stake in the cosmetics and supplement maker. 💄💊
This acquisition comes after Kirin's August purchase of Australian nutritional supplement maker Blackmores for 1.88 billion Australian dollars ($1.25 billion), furthering its expansion in the supplement market. 🌏✨
By integrating Fancl’s product lines, Kirin aims to create a comprehensive portfolio in the health and wellness sector. This strategic move aligns with the company's vision to diversify beyond its traditional beverage business and tap into the growing demand for health-related products. 🌿💼
Newport Craft Distilling Acquires KEEL Vodka, Expanding Their Spirits Lineup
Jun 12, 2024, PR Newswire
🍸 Newport Craft Distilling has acquired KEEL Vodka, a beloved Rhode Island brand, adding it to their award-winning lineup featuring White Squall Vodka & Gin, Sea Fog Whiskeys, and Thomas Tew Rums. 🌊
Key Highlights:
Rhode Island Roots: KEEL Vodka, known for its smooth taste and balanced lifestyle, was founded by Bill Dessel, Tom McGowan, and Matt Light. Now, it joins Newport Craft, bringing the spirit of the Ocean State nationwide.
Enhanced Vodka Lineup: The acquisition strengthens Newport Craft's Vodka offerings, merging KEEL's innovative heritage with Newport Craft's production expertise to cater to diverse tastes.
Local Commitment: Production of KEEL Vodka returns to Rhode Island, boosting local job opportunities.
Craftsmanship: KEEL Vodka, inspired by Aquidneck Island, will blend seamlessly with Newport Craft’s artisanal approach to elevate quality spirits. 🥃
Bill Dessel, KEEL Founder, and Brendan O'Donnell, Newport Craft CEO, are excited about this synergistic partnership, promising exceptional spirits and a shared passion for quality. 🍹
Unilever Prestige CEO Vasiliki Petrou to Step Down
Jun 13, 2024, Business of Fashion
Unilever Prestige’s founding CEO, Vasiliki Petrou, is departing the company. Since launching the division in 2014, Petrou led the acquisition of 10 brands, including K18, contributing to a €1.4 billion ($1.5 billion) turnover in 2023. Brands like Dermalogica and Paula’s Choice rank among Unilever’s top 30. Unilever Prestige enjoyed 13 consecutive quarters of growth under her leadership 📈.
Petrou announced her exit on LinkedIn, highlighting the division’s innovative approach to premium beauty and sustainable growth 🌱. Her last day is July 30, after which she plans to start her own investment fund 💼.
At The Business of Beauty Global Forum on June 4, Petrou advised against quick exits for founders. “If a founder aims to exit in four years, I wouldn’t buy that brand,” she said. “Quick moves for short-term gains can be detrimental. The key question is, ‘Will this brand last 10 to 15 years?’”
BREAKING: Cultivated meat co SCiFi Foods closes up shop, appoints firm to run sales process
Jun 10, 2024, AG Funder News
San Leandro-based SCiFi Foods has shut down, citing fundraising challenges. "We've appointed an advisory firm to manage a sale process," said cofounder and CEO Joshua March. The startup, founded in 2019 as Artemys Foods, rebranded in 2022. It had raised $40 million from investors like Coldplay, Andreessen Horowitz, and Valor Siren Ventures.
SCiFi Foods opened a pilot plant growing beef cell lines in serum-free media, a claimed industry first. March emphasized blending cultivated cell biomass into plant-based burgers and sausages is commercially viable.
The cultivated meat sector has faced tough times recently. Funding dropped sharply in 2023, with cultivated meat startups raising only $177 million, a 78% drop from 2022. Despite this, some startups like Uncommon and BlueNalu secured significant investments.
Investor Harris Komishane noted the challenging funding environment, emphasizing scalability issues and risk aversion among VCs. However, he believes these challenges are cyclical and will pass. 🌱🔬🍔
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