Express Checkout #28

Commerce news from the week of 6/5/2023

Author

Nate Rosen
June 12, 2023

Hello hello!

There are a lot of new faces around here! Welcome! Not sure where you keep coming from, but thanks for subscribing!!

Congratulations to an early CPG friend, Madhu, on getting 3 SKUs of Kimbala into every Central Market location! Madhu makes some of the best chai concentrate I've ever had and now it’s available in retail! Love the new retail packaging! If you’re in Texas, check them out!!

Also wanted to congratulate my friend Leslie on landing his product on US shelves! Defy Wine is an organic canned wine brand based out of the UK and this past week it launched in an Upper West Side wine store! So the wife and I took a walk to pick up a couple of cans! 🍷

If you were sent this issue please consider subscribing!

If you’re in NYC this week for BevNet live, let me know! I would love to grab a coffee or find time to chat.

Now on to the news of the week!

🔥 Big News - 10 items or less 🔥

  • BNPL is now even more available - Amazon Pay has partnered with Affirm to offer "buy now, pay later" options to Amazon Pay merchants in the US. Merchants can add Affirm to their existing Amazon Pay button without having to add it directly to their site. (source)

  • Dogs can no longer play with a bottle of Jack - The US Supreme Court ruled in favor of Jack Daniel's in a trademark dispute with VIP Products LLC over a parody chew toy resembling the famous whiskey bottle. The court threw out a lower court's ruling that the toy is protected by the First Amendment, stating that the use of a trademark as a trademark falls within the heartland of trademark law and does not receive special 1st Amendment protection. The decision could have implications for future cases involving the use of trademarks in creative works. (source)

  • It’s acquisition season baby!

    • Curio Brands, the parent company of Thymes and Capri Blue, has acquired Otherland, the candle company founded in 2017 by Abigail Cook Stone. Otherland is currently sold in Sephora, Nordstrom, and Anthropologie. (source)

    • Great Jones, one of the many beautiful DTC cookware brands that has come out of the past few years, has been acquired by global cookware powerhouse Meyer Corporation. Meyer owns brands like Faberware, Kitchen Aid, and Rachel Ray Great Jones will remain headquartered in NYC, and its CEO and co-founder Sierra Tishgart will remain in her role. (source)

  • Looks great, but I don’t want that thing on my face - At Apple’s WWDC 2023, they finally announced their highly anticipated mixed reality headset, the Vision Pro, which is priced at a mere $3,499. Apple also revealed a new 15.3-inch MacBook Air, and upgrades to the Mac Studio and Mac Pro with a new M2 Ultra chip. Other announcements included a mental health-focused journaling app (very excited for this), iOS 17 (FaceTime voicemails!!!), interactive widgets for iPadOS 17, macOS Sonoma, and FaceTime coming to Apple TV. (source)

🗞️ News from the week (6/5/23 - 6/11/23)

🛍 Retail

  • H-E-B has opened two new wellness primary care clinics in Houston, with two more to open in June. Each clinic offers full-service primary care, physical therapy, and health and nutrition coaching, staffed with clinical pharmacists, nurses, board-certified physicians, and registered dietitians. (source)

  • Giant Eagle has launched Leap Media Group, an in-house retail media network that uses the grocer's myPerks loyalty program to connect with customers via online properties, apps, social media and more. The grocer's retail media team currently consists of more than 30 team members, some of whom focus fully on Leap. (source)

  • Foxtrot opened its largest store to date on June 5 in Austin, Texas. The 6,000 sqft store features an indoor-outdoor covered patio, an all-day cafe, and locally sourced food and beverage options. There are a lot of amazing local Austin brands. This is their 2nd in Austin, with a third location planned to open soon. Foxtrot currently has 27 locations across Illinois, Texas, Virginia, Maryland, and the District of Columbia. (source)

  • The California state senate passed SB 553, which would prohibit retailers from requiring staff to confront individuals trying to steal. Now the bill heads to assembly. (source)

  • Cooler Screens is suing Walgreens for breach of contract and seeking $200 million in damages after Walgreens terminated their agreement to integrate smart screens onto cooler doors for in-store advertising. Cooler Screens alleges that the relationship deteriorated when current CEO Rosalind Brewer took over and decided to remove the screens from stores. (source)

    • The screens have seen some disdain from folks online. They’re a very interesting innovation but from my customer perspective, I think they take away from the shopping experience.

  • Bed Bath & Beyond is reportedly in talks to sell Buybuy Baby to Go Global Retail. (source)

  • Revolve Group is partnering with Bolt to power in-store checkout for FWRD's first ever pop-up shop in Los Angeles. Bolt's Checkout Links will allow shoppers to scan a QR code to get immediately directed to a FWRD-branded checkout page, where they can purchase items with a single click. (source)

🛒 CPG & Consumer

  • Chamberlain Coffee and IGK have launched a limited-edition Matcha Dry Shampoo, inspired by Chamberlain Coffee's classic Matcha Green Tea. The product will be available for purchase across Ulta, Chamberlain Coffee’s website, and IGK’s website through December 2023. (source)

  • Stitch Fix is considering exiting the UK market after four years due to negative EBITDA and ongoing sales declines. The apparel box e-retailer is also closing two US distribution centers to save ~$15 million annually. (source)

  • Kum & Go has partnered with BLK & Bold to offer specialty-grade coffee in over 300 locations across 13 states. BLK & Bold is the first Black-owned nationally distributed coffee company and donates 5% of proceeds to its social impact initiative "For Our Youth." (source)

  • Hilco Steambank, an IP advisory firm, is seeking offers to acquire the "assets" of Boxed Inc., including the company's domain name, customer data, trademarks, social media accounts, and related assets. Bids are due on or before June 15, 2023. Boxed filed for Ch 11 back in April of this year. (source)

  • Philly-based Two Robbers is releasing a limited-edition hard seltzer in collaboration with Grillo's Pickles. As a pickle fiend, I will be trying this! (source)

  • Israeli plant-based brand Vgarden is partnering with MCT Dairies to launch its full range of vegan cheese, meat, and seafood alternatives in the US. Vgarden's products are already available in Israel, Europe, and Australia, and have been used by chains such as Domino's and Burger King. (source)

  • Rite Aid has launched RYSHI™, a new line of clean beauty and personal care essentials. The collection includes over 300 products, ranging from vegan lashes to hydrogel eye and sheet masks, to sunscreen, body wash, and razors, all priced under $20. (source)

  • Häagen-Dazs has launched a new Cultured Crème yogurt, made with a longer fermentation process than traditional yogurt, and formulated with less than nine ingredients. (source)

  • Ohio-based brand Whoa Dough has launched Eat or Bake Cookie Dough, which will roll out in retail later this year with nine cookies per pack. The brand has been selling shelf-stable plant-based and gluten-free cookie dough bars since late 2020. (source)

🏭 Supply Chain

  • Ameriflight, a U.S. cargo airline, has received FAA approval to operate Matternet's M2 delivery drones for commercial deliveries of medical supplies and e-commerce packages. (source)

  • Veho, a post-purchase experience company, is expanding to 11 new markets in the Northeast, bringing its total delivery and returns network to 42 markets. Veho provides e-commerce brands with an end-to-end solution that makes delivery and returns easier. (source)

  • UPS and the International Brotherhood of Teamsters have reached a tentative deal to use company drivers for half of SurePost packages, increasing the percentage of packages redirected to UPS drivers from 42% to 50%. The deal would also reduce the size of packages eligible for delivery by the agency. (source)

  • FedEx is closing a facility in Mississippi, resulting in the layoff of approximately 73 couriers and other employees. The company is streamlining its network to operate 100 fewer stations and cut more than 10% of pickup and delivery routes by FY2027. (source)

  • VF Corporation has launched operations at its new distribution center in California, which is the largest and most efficient within VF’s global network of 46 distribution centers. The center’s 76-million-unit annual shipping capacity will initially service Vans and The North Face with the capability to add more VF brands. (source)

  • Mela, a watermelon water maker, has partnered with Stone Distributing Co., an independent California distributor, becoming one of the first non-alcoholic beverage brands in the DSD house's portfolio of beer, hard kombucha, and other spirits brands. (source)

💻 eCommerce

  • J. Crew has partnered with Obsess to launch a virtual beach house for its 40th anniversary, allowing customers to explore white-paneled rooms, a boathouse, and a secret lighthouse. Obsess creates 3D virtual stores for retailers that customers. (source)

  • Walmart's incubation arm, Store No8, and Outlier Ventures have launched the Store No8 dCommerce Base Camp accelerator programs. The 12-week initiative will help startups focused on building in Web3 to deliver solutions that improve the global retail and commerce experience. (source)

  • eBay and Techstars have partnered to launch an accelerator program for early-stage companies working on eCommerce solutions. The program will be hybrid, allowing founders to participate both remotely and in-person in San Francisco during the 13-week program and making it more accessible to a wider range of startups. (source)

  • Hexa, a 3D visualization platform, has partnered with Amazon to allow sellers to create and display 3D images, immersive 360 viewing, virtual try-on capabilities, and augmented reality content on their Amazon product pages. (source)

  • BOND, a new livestream shopping platform, has launched with over 65 creators and 50 brands enrolled. The company raised $2 million in pre-seed funding and plans to use the funds on product development, hiring additional employees, and overall growth. (source)

💸 Funding, Exits, M&A, and VC

  • Cuzen Matcha, a San Mateo-based food-tech startup, raised $3.6 million in Series A funding led by Digital Garage Group, with participation from Joyance Partners and over twenty angel investors. (source)

  • Ecovative has raised over $30 million to fund the global distribution of sustainable textile and foam products made from mycelium materials derived from mushrooms. The round was led by Viking Global Investors and includes Standard Investments, FootPrint Coalition Ventures, and AiiM Partners. (source)

  • River Horse Brewing Company has acquired DuClaw Brewing Company for an undisclosed sum. The deal brings together two US craft brewers, with both companies dating from 1996. (source)

  • Mediterranean food company Afia Foods has raised $3 million in Series A equity financing to scale its core product line and open a new manufacturing facility and headquarters in Texas. The company produces five different flavors of falafel and their online Texas exclusive kibbeh. (source)

  • MyForest Foods, makers of mycelium-based meatless bacon, has raised $15 million in Series A-2 funding led by their parent company, Ecovative Design (who just raised $30M) to expand its retail growth and foodservice presence across the Eastern Seaboard. (source)

  • Onebeat, an AI-enabled retail-tech company based in Tel Aviv, has raised $10M in funding led by Magenta Venture Partners and joined by AnD Ventures, INcapital Ventures, J-Ventures, Surround Ventures, and Wilson's Bird Capital. (source)

  • The Green Coffee Company, a Colombian coffee producer, raised $25 million in Series C Equity funding to expand its farming operations, accelerate its U.S. coffee roasting operations, and launch lines of liquors and spirits distilled from coffee cherries and other coffee waste. (source)

  • Batory Foods has acquired Tri-State Companies, a food ingredients broker, distributor and logistics provider. (source)

  • Renewal Mill, an upcycled food company that transforms leftover pulp into flours and other baking mixes has closed the first part of its Series A funding round led by Beyond Impact Advisors and ICA Fund. (source)

  • Del Sol Food Company has acquired John Wm. Macy CheeseSticks, a New Jersey-based maker of baked cheese sticks, cheese crisps, and crostinis. The financial terms of the transaction were not disclosed. Del Sol Food Co. produces dressings, marinades, and seasoned croutons under the Briannas brand. (source)

  • Green Light Distribution, a distributor of small and mid-sized wine and craft spirits brands, has secured a minority growth equity investment from SixSibs Capital. Green Light anticipates sales of $250 million in 2023. (source)

  • Meati Foods, a producer of animal-free meat made from mushroom root, announced that Derek Jeter has joined the company as an investor and advisor. (source)

  • TreeHouse Foods is set to acquire a Texas-based coffee facility and non-direct store delivery coffee business from Farmer Brothers for $100 million. (source)

  • Houston-based Bayou City Hemp Co. has acquired 8th Wonder Brewery, Distillery and Cannabis. The two companies had been collaborating since 2021, when 8th Wonder released Wonder Water, a nonalcoholic seltzer infused with Bayou City Hemp's CBD and THC. (source)

  • Stronger Leadership, LLC has acquired Skeleton Optics, a premium lifestyle brand specializing in innovative optical and lifestyle products. (source)

🧐 Interesting reads

💡 Data, reports, and trends

🐦️ Interesting Tweets

😋 Brands and things I’ve tried this week

Thanks Immi team for sending over your latest flavors! That Spicy Red Miso was incredible!!

Thanks for reading! If you have any suggestions, feedback, or stories or posts I missed, let me know!

Nate :)

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