- Express Checkout
- Express Checkout #48 - the latest in CPG, Retail, and eComm
Express Checkout #48 - the latest in CPG, Retail, and eComm
Commerce and CPG news from the week of 10/30/2023
I have some exciting news to share. After an incredible journey at Adgile, I’ve decided to make a little change to my career.
I’m now working on a CPG brand with a close friend! And, we’re raising 🤑! We’re building something incredibly delicious and innovative, and I can't wait to share more details. If you're curious to learn more and potentially invest, please email me!
I'm also doubling down on this newsletter, growing it to more of a true media platform. Expect more content, practical insights, and inspiring stories!
I'm open to collabs, partnerships, and even consulting opportunities. If you're interested in working together or need advice, feel free to reach out.
Additionally, expect a 🎁 holiday gift guide in the coming weeks, if you have suggestions let me know!
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I also have some events coming up, check them out here 👇
🍿 I’d love for you to join me at NOSH Live, a 2-day event for the natural food industry, taking place on Nov. 30 + Dec. 1 in Marina del Rey, CA. I think it’s one of the best conference out there on CPG!
My friends at NOSH pulled some strings, and here is a discount to save $500 per ticket. I hope to see you there!
🌆 Catch me in Chicago November 15th for MID COAST ECOM SPARK, a conference put on by the great Jess Cervellon and Dillon Duchesne! RSVP HERE!
(If you’re reading this email in gmail it might get clipped! You can always view full issues here.)
🔥 Big News - 10 items or less 🔥
🗞️ News from the week (10/30/23 - 11/05/23)
Wholesale layoffs - Wholesale marketplace Faire has laid off 20% of its staff as part of a restructuring. This is the company's second round of known cuts in just over a year. It recently announced a partnership with Shopify and has raised over $1.4 billion in funding. (source)
DTC scrubs brand goes physical - FIGS, the DTC healthcare apparel and lifestyle brand has announced opening its first permanent physical retail space, the Community Hub, in Los Angeles. The next Community Hub is set to open in Philadelphia in the first half of 2024. (source)
Amazon and retail don’t seem to mix - Amazon is closing its two Amazon Style clothing stores as part of its retail strategy shift. The stores, which opened in 2022, will be shut down by November 9th. Amazon had previously announced the closure of its physical stores, including its Books, 4-Star, and Pop Up locations, as well as some of its Go convenience stores. (source)
Walmart, bougie!? - Walmart celebrates the re-grand opening of 117 remodeled stores across the U.S., representing over half a billion dollars in investments. The upgrades include improved layouts, expanded product selections, and innovative technology to enhance the shopping experience. Walmart plans to continue modernizing its stores in 2024. (source)
eBay has opened a pop-up shop called Canal Street Wear in New York City, featuring authentic streetwear and sneakers from top sellers. (source)
Lush has partnered with Ulta Beauty. This partnership allows Lush to expand its reach beyond its 200 brick-and-mortar stores. Lush is also opening new spa locations in New York and Vancouver as part of its expansion efforts. (source)
Kum & Go has opened eight small-format "Bistro" locations in six states. These food-focused stores are smaller than the company's other formats and offer a full selection of foodservice options, including pizza, burritos, and sandwiches. (source)
True Classic, a men's basics brand, plans to open three stores by the end of the year. The brand, which currently operates five stores through a platform called Leap, has decided to bring its retail efforts in-house. (source)
Instacart's Caper Carts will replace the majority of traditional shopping carts at Geissler's Supermarkets in Connecticut and Massachusetts. The AI-powered smart carts use computer vision to identify items and offer personalized promotions and savings. (source)
Online grocery service FreshDirect has launched the Rising Industry Producers and Entrepreneurs Program, which aims to help brands grow in retail. (source)
🛒 CPG & Consumer Goods
NotCo has partnered with Yellowbird hot Sauce to launch NotChicken Spicy Patties, a plant-based alternative to chicken patties. The patties are made with NotCo’s AI-created recipe and Yellowbird's Spicy Habanero flavor. (source)
The Rocco Fridge officially has launched. It's a sexy smart fridge designed for your home and beverages in mind. Congrats Alyse Borkan and Sam Naparstek!
CELSIUS has a new product line, CELSIUS ESSENTIALS, at Mr. Olympia 2023. The energy drink line is tailored for fitness enthusiasts and offers a new formula supposed to enhance physical and cognitive performance. (source)
Allbirds is relaunching its original shoe, the Wool Runner 2, as part of a strategy to turn the company profitable. The updated version comes with improvements in comfort and fit, including additional heel seam, more foot cushion, and new lacing appearance. (source)
Honestly the new Allbirds are really comfy, if you end up ordering use this link and get a free pair of socks!
AriZona Iced Tea and skincare brand Vacation partnered to create lip balms. The lip balms are flavored to mimic 3 popular AriZona tea flavors: green tea with ginseng and honey, iced tea with lemon, and mucho mango. (source)
Your favorite mall brand, Bath & Body Works is focusing on expanding its men's personal care through new marketing efforts and partnerships with professional and collegiate football players. (source)
Erin and Abe Lichy, stars of The Real Housewives of New York, have launched Mezcalum, a mezcal brand produced in Oaxaca, Mexico. (source)
Herdez, a partnership between Hormel Foods Corp. and MegaMex Foods, has introduced a new habanero hot sauce. It joins Herdez's existing hot sauce and taqueria sauce lineup. Their avocado hot sauce is one of my favorites!! (source)
Kraft Heinz brand Lunchables is launching a new line of grab-and-go snacks called Dunkables, which feature a base ingredient for dipping and two toppings. (source)
Sweet Loren's is launching gluten-free breakfast biscuits that are plant-based, Non-GMO Project verified, and free from dairy, peanuts, and tree nuts. (source)
Magnolia Bakery and Green Thumb Industries are collaborating on THC-infused chocolate bars based on Magnolia's famous banana pudding and red velvet cake. This marks Magnolia Bakery's first venture into the cannabis industry and provides Green Thumb with a high-profile platform to target cannabis enthusiasts. (source)
Michaels is launching MakerPlace, an online marketplace for handmade goods that aims to compete with platforms like Etsy. (source)
During the holiday season, Best Buy will be partnering with TalkShopLive to bring live shopping shows to customers. (source)
Google has launched generative AI tools for product imagery, allowing U.S. advertisers and merchants to create new product images for free. The AI-powered Product Studio enables users to leverage text-to-image AI capabilities to change background colors, request specific scenes, and improve low-quality images. (source)
Amazon is partnering with Affirm to offer a buy now, pay later option for small business owners on its platform, expanding its existing partnership with Affirm. (source)
Gift card platform, Govalo and BoldCommerce have entered into a strategic partnership. To get started, simply install Govalo and enter the promo code "BEBOLD" to enjoy 2 months of free subscription. (source)
“I’ve been working with Bold in some capacity for north of a decade. Not only do they create good tech, they deeply care about their merchants. That’s why Govalo is proud to partner with them, we are aligned in our vision of merchant success and also firmly believe in the creation of software that is user-friendly and technically excellent” - Rhian Beutler, founder of Govalo
Shopify has launched its Shop app on web allowing customers to use Shop and Shop cash wherever they are. (source)
Google and Yahoo have announced new sender requirements for email marketing. The changes will take effect in Q1 of 2024, and they include setting up DMARC authentication, aligning the "From:" header with the sending domain, and making unsubscribing easier and clearer. Bulk senders will have additional requirements. (source)
🏭 Supply Chain
Flexport has acquired Convoy's technology stack, with plans to offer a full range of trucking services to its customers. The terms of the agreement were not disclosed. (source)
Mack Trucks is offering a monthly subscription and pay-as-you-go mileage program for its new medium-duty electric trucks, addressing concerns about high upfront costs. (source)
💸 Funding news
Treasury Wine Estates has announced its acquisition of DAOU Vineyards, which is the fastest-growing luxury wine brand in the United States. The deal is valued at $900 million upfront, with the potential for an additional earn-out of up to $100 million. (source)
PE firm Brynwood Partners has closed its 9th fund with over $750 million of committed capital to target control investments in consumer product businesses in North America. (Source)
Biotech startup Triplebar has raised $20 million in a funding round led by Synthesis Capital. The funding will be used to expand their tech platform, which is focused on optimizing biomanufacturing with applications in various areas, including animal proteins, cultivated meat, and therapeutic biologics. (source)
Singapore-based agrifood investor VisVires New Protein has rebranded as Clay Capital and closed its second fund of $145 million. The fund will support startups in Europe, Israel, and Asia that are using technology to address challenges in the food system. (source)
Agrifintech startup Verqor has raised $7.5 million in funding to provide fast credit for farmers in Mexico. The funding includes a $4 million pre-Series A round led by Yara Growth Ventures, with participation from Accion Venture Lab, SP Ventures, GLOCAL, and Amplifica Capital. (source)
Dirty Hands has acquired sales consultancy firm Burgess Strategic Advisors, expanding its range of client services. (source)
Brown-Forman has completed the sale of Finlandia vodka to Coca-Cola for $220 million. Finlandia will join Coca-Cola HBC's premium spirits portfolio, which includes Rézangyal pálinka and Zlatni Pelin bitter liqueur. (source)
PE firm Aurelius is in talks to potentially acquire The Body Shop from Natura & Co. The deal, if successful, is expected to value the beauty brand lower than £400 million to £500 million. (Source)
Amorepacific has acquired additional shares of COSRX, making it a subsidiary of Amorepacific. COSRX, a skincare brand known for its hypoallergenic skincare products. (source)
Borderlands Brewing Co has acquired Dillinger Brewing, taking over the brewing of Dillinger's recipes and distributing their beer. (source)
Blake's Hard Cider and Austin Eastciders have merged under the Blake's Beverage Company, creating the second-largest cider company in the U.S. (source)
🧐 Interesting reads
NuSkool: A New Face (Sandbox Studios)
NYC Pride, the Power of Pizza, and a Dream of a Brighter Future: The Story of Pleese® Foods (Plant Based Foods Association)
VCs No Longer Do DTC (Crunchbase)
What happened to Airbnb? (Vox)
Why Rice Markets Are In Crisis Mode (YouTube)
How collaborating with world-class chefs keeps this ceramist inspired (Business of Home)
PLINK! | LAUNCHVT SPOTLIGHT SERIES — LaunchVTOTLIGHT SERIES (LaunchVT)
💡 Data, reports, and trends
5 energy drink trends c-store retailers expect into 2024 (Cstore Dive)
The 2023 consumer spending report (Klaviyo)
😋 Brands and things I’ve tried this week
My friend Carishma sent over some of her product White Orange, a vitamin C serum made from the white part of oranges! The SPF and the cleansers are also really nice!
Thanks for reading! If you have any suggestions, feedback, or stories I missed, let me know!
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