Express Checkout #26

Commerce news from the week of 5/15/2023

Author

Nate Rosen
May 22, 2023

Hello!

I have some exciting news - I'm getting married this Sunday! That's right, I'm tying the knot and taking some time off to celebrate. So, unfortunately, there won't be an issue next Monday, but don't you worry - the following one will be an absolute banger! Stay tuned! :)

This past weekend I was able to go to the East Fork pop-up in Brooklyn and finally acquired the famous mug. The handmade ceramics brand is based in Asheville, North Carolina, and was founded in 2010 by Alex Matisse (great-grandson of Henri Matisse, yes that Henri Matisse), Connie Matisse, and John Vigeland. In 2019 they became well known by many consumers because their $36 mug (aptly named “The Mug”) just kept selling out.

Honestly, if I could afford it, I’d have my entire cabinet filled with East Fork’s amazing pottery.

I also wanted to shout out Marcus Milione, founder of Minted New York for sending over some amazing running gear! I just got back into running after a 4 year hiatus. The thought and care that went into this brand is astounding. It’s all the little touches, all of which he talks about at length in his TikTok, which I recommend watching.

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Don’t forget to sign up for Porte! Porte is a one-of-a-kind conference that brings together over 300+ brands, buyers, thought leaders, and retailers to forge new relationships and discuss the latest trends in the retail industry. The Express Checkout community is invited to Porte’s NYC conference set to take place on June 3rd, 2023 at Harlem Parish. Use code FRIENDSOFPORTE2023 to get 25% off your ticket! Learn more and register here!!

🔥 Big News - 10 items or less 🔥

  • I’m disappointed - Oscar Mayer has renamed its iconic Wienermobile to "Frankmobile" in honor of its 100% Beef Franks, which have a new recipe. The fleet of six vehicles also features new exterior decals, Frank Whistles, and a newly renamed class of Hotdoggers behind the wheel, now known as Frankfurters. (source)

  • AB InBev is detoxing - Anheuser-Busch InBev is discontinuing two of its canned drink brands, Babe Wine and HiBall Energy Seltzer, to simplify its brand portfolio and focus on consumer-based growth drivers. The beer giant has alerted wholesalers to the change. Babe Wine was founded in 2016 and known for its canned wines, while HiBall produced flavored energy seltzers and was acquired by Anheuser-Busch in 2017. (source)

  • One crazy valuation to another - Online fashion retailer Shein dropped its valuation from $100 billion to a measly $66 billion, and raised $2 billion in its latest fundraising round. (source)

  • No more Coke Zero - The World Health Organization has released a new guideline on non-sugar sweeteners, such as aspartame and sucralose, recommending against their use for weight loss. The recommendation is based on a systematic review of evidence that suggests these sweeteners do not provide any long-term benefits in reducing body fat and may have potential undesirable effects, such as an increased risk of type 2 diabetes and cardiovascular diseases. (source)

  • I'm gonna make some weird shit - Kraft Heinz has launched HEINZ REMIX, the first customizable sauce dispenser that allows consumers to personalize their own flavor creations. Consumers can select from a range of “bases” and personalize further with one or more “enhancers” at their preferred intensity level. The innovation will be piloted with restaurant operators in late 2023 to early 2024 after being debuted at the 2023 National Restaurant Association Show in Chicago. Think Coke Freestyle for sauces! (source)

think of the possibilities!

  • A plant-based legal battle ends - Miyoko Schinner and Miyoko's Creamery have ended their legal disputes and withdrawn all legal claims against each other. Schinner was dismissed from the CEO position in June 2022 and the company sued her in federal court in February 2023, accusing her of stealing proprietary recipes and plant-based culture configurations. In March, Schinner filed her own lawsuit against the company. The terms of the settlement were not disclosed. (source)

  • A plant-based lawsuit begins - Beyond Meat is being sued by investors who claim they were misled about the company's manufacturing capacity and growth outlook. The lawsuit covers investors who held shares between May 5, 2020, and Oct. 12, 2022. (source)

🗞️ News from the week (5/15/23 - 5/21/23)

🛍 Retail

  • Toys"R"Us is partnering with Duty Free Americas to open its first airport store at Dallas Fort Worth International Airport in Terminal A, in time for the 2023 holiday season. (source)

  • Simon and Five Below are expanding their relationship by adding more locations at Simon's portfolio, including Premium Outlets. (source)

  • Wakefern Food Corp. is expanding its use of Freeosk's interactive multimedia sampling kiosks in 95 ShopRite and The Fresh Grocer stores. Freeosk combines in-store sampling, merchandising, and digital media to create a multisensory retail media platform that inspires shopper engagement and trial. (source)

  • Federal Realty GP LLC has filed a lawsuit against Amazon Retail LLC and Amazon.com Inc., alleging that Amazon is breaching its lease agreement by delaying the opening of a proposed supermarket. Amazon had earlier announced that it was pausing growth plans for the brick-and-mortar Amazon Fresh brand. (source)

  • Spencer's and Spirit Halloween, both owned by Spencer Spirit Holdings, are expanding their Egg Harbor Township corporate campus by adding 81,000 square feet of office space and amenities, including a fitness center and outdoor meeting spaces. I guess people are really into Halloween these days. (source)

  • Jing Gao, founder of Fly by Jing, is opening Suá Kitchen and Superette, a grab-and-go marketplace in LA's Larchmont Village this summer. The modern marketplace will offer pre-packaged meals and shelves lined with pantry items from AAPI makers. (source)

🛒 CPG & Consumer

  • FaZe Rug, a YouTuber with over 23 million subscribers, has launched a new candy product called 1UP Candy. The company's first product is a sour gummy challenge, where fans are challenged to suck on three extremely sour gummies while keeping a straight face and posting their experience on social channels. It’s similar the Paqui One Chip Challenge. (source)

  • Kencko, a B-corp that transforms freeze-dried fruits and vegetables into on-the-go instant smoothies is launching in 1005 Walmart stores across the US. (source)

    • I love seeing these brands that were so focused on DTC push forward with brick-and-mortar endeavors! Function Of Beauty, Dollar Shave Club, Harry’s, Quip, Gainful, care/of…just to name a few!

  • Yet another celebrity is launching a booze brand. This time Neil Patrick Harris has collaborated with Thomas Ashbourne to create The After Hours, a RTD espresso martini. (source)

  • Athr Beauty, a sustainable makeup brand, will close in July due to difficulties including lawsuits, customer acquisition, and ingredient expenses. (source)

  • Kona Brewing Co. has rebranded to Kona Big Wave with a new logo, updated packaging, and a fresh ad campaign. (source)

  • MingsBings, a plant-based and gluten-free frozen food brand founded by Iron Chef Ming Tsai, will be available in The Giant Company, Giant Foods, and Stop & Shop, increasing the brand's retail presence by over 550 stores in the East Coast and Mid-Atlantic region. (source)

  • After a two-year hiatus, plant-based yogurt Lavva is returning to US retailers. Lavva is back with a new CEO and strategic investors, and can be found at Whole Foods and other natural food retailers. (source)

  • Nuuly, a rental service owned by Urbn (owner of Urban Outfitters and Anthropologie), has partnered with plus-size e-tailer Eloquii to expand its size inclusivity offerings. The Nuuly rental subscription service has 150,000 subscribers, and memberships start at $98 a month to access six styles. (source)

  • The Yumy Candy Company, Canada's first publicly traded low sugar, plant-based candy company, has launched its products into Albertsons. (source)

  • Millie Bobby Brown, known for her role as Eleven in Stranger Things, has launched a coffee lineup under her Florence by Mills brand (the same brand name as her beauty line). The coffee range includes two signature blends, a cold brew, syrups, and accessories. (source)

  • KIKI, a community-driven beauty platform, has launched with its first product, Pretty Nail Graffiti, a peelable nail polish that allows members to choose the colors. KIKI allows customers to co-create beauty products and receive rewards. The products use fully circular supply chains and NFC chips embedded in custom aluminum packaging to track reward points. Members can vote on the next product to be launched. (source)

  • Grove Collaborative has announced new retail partnerships with Kroger, Costco, and Hannaford, expanding its omni-channel distribution strategy and bringing its retail footprint to over 5,700 brick-and-mortar stores. (source)

  • Perdue has partnered with Torch & Crown Brewing Company to create a custom beer called PERDUE® Beer Can Chicken Beer, a honey double-citrus summer ale brewed with classic grilled chicken seasonings like rosemary, thyme, and pink peppercorn to help grillers make the perfect beer can chicken. (source)

this is very real

  • Nature Valley has released its first savory snack, the Savory Nut Crunch Bar, in response to consumer demand for more savory snack options. The bars come in three flavors - Everything Bagel, White Cheddar and Smoky BBQ. (source)

🏭 Supply Chain

  • Gently expands its Los Angeles operations with nano-fulfillment centers using AI and data to predict demand spikes and supply shortages. It plans to eventually expand to other US markets and has partnered with Cloud Paper for deliveries in the LA area. (source)

  • Coyote Logistics, a freight brokerage firm owned by UPS, is conducting a second round of layoffs due to months of truckload rate deflation. This is the second time this year the company has laid off employees. The layoffs come at a time of widespread reductions in head count across the transportation and logistics industry. (source)

  • FreshRealm is set to acquire Blue Apron's operational infrastructure for $50 million, which includes two facilities in New Jersey and California. (source)

  • RNDC has acquired Young Won Trading Distribution. The financial terms of the deal were not disclosed. The purchase will enhance RNDC’s portfolio of sake, soju, Korean wine, baijiu and Asian beer. The acquisition increases business in VA, MD, DC, PA and expands distribution to NC. (source)

  • Faire is updating its pricing structure in North America effective July 5, 2023, which includes lowering the opening order commission, adding a new customer fee, and introducing a payment processing fee. The changes do not apply to Faire Direct orders. (source)

💻 eCommerce

  • Sezzle, a payment platform, has launched a new Pay-in-2 product that allows shoppers to pay 50% of their purchase at the time of purchase and the remaining 50% two weeks later. (source)

  • eBay will acquire Certilogo, a provider of AI-powered apparel and fashion goods digital IDs and authentication. This acquisition enhances eBay's pre-loved fashion category. (source)

  • Uber has unveiled new products aimed at making life easier for families and friends to travel together. The new products and features include (source):

    • Family profiles and teen accounts for parents and caretakers to safely move teens under their supervision

    • Group grocery orders on Uber Eats, letting users invite participants to add their own items to a shared cart, set deadlines for when to add their must-haves, and even automatically split the bill at most stores

    • Video gift messaging on Uber Eats, allowing users to record a unique video message to accompany their gift

    • Boat, offering vacationers in Greece the opportunity to book a boat directly via the Uber app

    • Uber Central, allowing hospitality concierges around the world to arrange rides for their guests using Central on Uber for Business

💸 Funding, Exits, M&A, and VC

  • Stoli Group, a global producer of spirits and wines, has made a strategic investment in The Pathfinder Hemp and Root, a fermented and distilled non-alcoholic amaro. (source)

  • LS Cream, the first Black-owned cream liqueur, has received a $10 million investment from Fearless Fund. The brand, inspired by the traditional Haitian drink cremas, aims to introduce a new generation of drinkers to the luxury and versatility of cream liqueurs. (source)

  • Skin Pharm, a modern beauty brand and aesthetic skincare clinic, has received a $15 million minority investment from Prelude Growth Partners to fund the company's nationwide clinic expansion plans and ongoing product development. (source)

  • Anheuser-Busch InBev has sold Appalachian Mountain Brewery back to its original founders, making it an independent craft brewery once again. This is not really a common occurrence, at least in the world of beer, but ABI's High End Division has recently experienced some turbulence with the closure of one acquired-craft brewery and layoffs at others. (source)

  • All Y'alls Foods, a plant-based protein company, has announced its first investor, board-certified vascular surgeon Dr. Bukhari who will also become the company's Medical Advisor. (source)

  • Plant-based meat producer Prime Roots has raised $30 million in a Series B funding round led by True Ventures including participation from investment firms like Pangaea Ventures, Prosus Ventures, Solasta Ventures and Top Tier Capital. (source)

🧐 Interesting reads

💡 Data, reports, and trends

😋 Brands and things I’ve tried this week

First off, we have a new product from the folks at Starday Foods: Habeya Chickpea Protein Crunch! I tried it on our salad, but I also think it would go great on sandwiches and especially burgers. I was told that it's also good for snacking on its own, but I’m not so sure about that. Nevertheless, it's definitely tasty!

I also dug into the new UTZ x Mike’s Hot Honey potato chip collaboration! These might be my new favorite chips. Spicy, sweet, and salty all in one.

Thanks for reading! I'll be back in two weeks with more commerce news straight to your inbox. If you have any suggestions, feedback, or stories or posts I missed, let me know!

Nate :)

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