Express Checkout #73 - the latest in CPG, Retail, and eComm

Hello hello!

Happy Mothers day to all the amazing moms out there, especially mine! And today is also her birthday, and I know she’s reading! Happy Birthday mom! 🎂 

There are some fun industry events on the horizon!

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I’m also hosting a few dinners, if you’re a brand doing $5M+/year I’d love to invite you to some private dinners in NYC

Now on to the news of the week!

(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 🔥

• Inclusivity and listening to your customer matters - Youthforia, an emerging beauty brand, faced controversy after creating an inclusive foundation shade that was simply jet black. Despite criticism and being dropped by retailers like Credo and Revolve, the brand claims it initially launched the shade as a "proof of concept." Source

• Despite category slowdown, alt-meat company raises $$$ - Meati Foods, a Colorado-based company that produces alternative protein from mycelium, has raised an additional $100 million in a recent funding round led by Grosvenor Food & AgTech. This funding comes after the company's previous rounds of $150 million in July 2022 and an additional $22 million in January 2023. source

• Not a good look Target - Target will only sell its Pride Month collection in select stores in 2024 after facing backlash and a boycott over the collection in 2023. Despite reducing the availability of the Pride collection, Target says it will continue to support LGBTQIA+ organizations and highlight LGBTQ-owned brands throughout the year. source

• Simon Property Pivots - Simon Property Group has sold its stake in Authentic Brands Group for nearly $1.2 billion, while considering a zero-capital deal for Express Inc. Despite diluting its other retail stakes, Simon remains interested in pursuing the Express deal. Source

• An update on fallen grocer - Foxtrot's assets were sold at auction for over $2.2 million. The buyer, Further Point Enterprises, acquired Foxtrot's assets while Dom's Kitchen & Market's assets remained unsold 😢. The auction was conducted over video call by JPMorgan Chase Bank. source

🗞️ News from the week (5/6/24 - 5/12/24)

🛍 Retail

• Target has partnered with Canadian department store chain Hudson's Bay to expand its wholesale distribution of its in-house children's brand Cat & Jack. This move marks Target's first venture into wholesale distribution. source’

• Kohl's will be opening Babies"R"Us shops in 200 of its stores later this year, offering a curated assortment of baby gear, furniture, and accessories. source

• Ace Retail Holdings is set to expand its Midwest footprint by acquiring Bishop Ace Hardware, a 13-store chain in central Illinois. Source

• Brooklyn Fare Kitchen & Market has opened a new 25,500-square-foot location in Lower Manhattan. This new store is the chain's first on the East Side of Manhattan and also their largest store to date. source

• Thrive Market has agreed to pay $1.55 million to settle a civil lawsuit accusing the e-grocer of violating California state law by automatically renewing subscriptions without affirmative consent. source

🛒 CPG & Consumer Goods

• Graza has launched refillable "beer can" options for olive oil bottles in Whole Foods Market and online. These nitrogen-sealed refills maintain the integrity of the olive oil and are perfectly portioned for Graza's squeeze bottles. source

• Freaks of Nature, a new skincare brand co-founded by surfing legend Kelly Slater, launches its first products designed for outdoor athletes with a focus on barrier protection. source

• Crocs has expanded its "Old Crocs. New Life" shoe takeback program across the United States, allowing customers to return their old Crocs footwear to be upcycled or recycled. source

• WooWoo, an intimate feminine care brand, has partnered with Bluemercury to expand its presence in the U.S. market. The brand launched in 2016 in the UK and entered the US in 2021. source

• HigherDose, a wellness tech brand, has launched a new Red Light Hat. source

• Gallo has launched a new range of RTD High Noon Vodka Iced Teas. There has been a rise in popularity among hard tea in the RTD category, so it makes sense one of the leaders in the RTD category would jump in. source

• Sweety Mochi Ice Cream, a second-generation Asian treat company established by Chinese immigrant parents in 1978, has undergone a great rebrand.

• Daily Harvest is on its comeback tour. Their popular smoothies, harvest bowls, and pops are now available at Target stores nationwide. source

• Tattooed Chef has made a comeback to the US under its new parent company, Planted Ventures, after filing for bankruptcy. The company is now offering a range of frozen ready meals and smoothie bowls across various categories and is available at select Costco stores. source

• Kraft Heinz and TGI Fridays have announced an exclusive perpetual licensing deal to sell TGI Fridays branded frozen appetizers in retail. Source

• Butterfly, a private equity firm, has announced that vegetable and juice producer Bolthouse Farms will be divided into two separate entities. Bolthouse Fresh Foods will focus on its carrot business, while Generous Brands will house its beverage and salad dressing products. Source

• Nescafé launches its new Nescafé Espresso Concentrate, a liquid coffee concentrate. It’ll first only be available in Australia and coming to global markets soon after. Source

  • Does this sounds like something on the market already? Well you’d be right. Jot and Javy have been in market for a while.

• Chrissy Teigen and John Legend have launched their first-ever joint business venture called Kismet, a pet lifestyle brand offering premium quality food for dogs, merchandise, and content for modern dog families. Source

💻 eCommerce

• Loop, a returns and reverse logistics platform, has announced its expansion to support merchants on Salesforce Commerce Cloud. Source

• POSIBL and Lucid Green have partnered to enhance consumer trust and loyalty in the cannabis industry through LucidConnect, a DTC marketing platform for the cannabis space. source

• Shopsense AI has launched a retail media platform that allows TV viewers to purchase items inspired by on-screen programming in real time. The company's partnerships with Paramount and TelevisaUnivision have integrated second-screen shopping into their programs. Shopsense also plans to introduce "Shopsense Lense," a feature that allows consumers to capture product images and make instant purchases through the publisher's app. Source

🏭 Supply Chain

• ModCloth has chosen Cart.com as its U.S. fulfillment partner to optimize its supply chain and improve customer service. source

• Amazon has rolled out heavy-duty electric trucks in Southern California as part of its sustainability goals. With nearly 50 electric trucks, it is the largest fleet of its kind in any country. source

• Pio, a plug-and-play automated warehouse system by AutoStore, has launched in the U.S., offering SMBs access to cube storage technology. Pio's P100 system enables same-day order processing. The system has been installed at five U.S. locations, including Privada Cigar Club and Sunday Swagger. source

• Amazon is closing its 38,500-square-foot grocery fulfillment center in San Francisco, along with other warehouses around the country, to optimize its logistics. The company plans to consolidate its operations into a new, 650,000-square-foot logistics center in Showplace Square. source

💸 Funding news

• Sound, the maker of organic sparkling botanicals and teas, has announced a strategic acquisition from Next In Natural. Source

• Voyage Foods, a California startup, has raised $52 million in funding for its cocoa-free chocolate made with blended vegetable oils, sugar, grape seeds, and sunflower protein. Source

• Pronghorn has made its first investment in a Japanese whisky producer, Shinju Spirits. Source

• Three Ships Beauty, a Toronto-based natural skincare brand, has raised $2.5 million in funding led by Thrive Venture Fund. source

• Chip City Cookies, a gourmet cookie chain based in NYC, has secured $7.5M in Series B funding led by Enlightened Hospitality Investments. The company plans to use the funds to expand its brick and mortar locations across the United States and, I’m assuming, enter into retail soon. Source

• Amylu Foods has acquired Klement's Sausage, a deal that will expand the company's reach in the meat industry. source

🧐 Interesting reads

• How White Claw Became the Only Hard Seltzer That Matters - Vinepair

• Hype Cycle - Endless Thread

💡 Data, reports, and trends

• Sally Beauty: High-Income Consumers Splurge, but Low-Income Shoppers Still Cautious

• Year in Review: Trends in Beverage Alcohol Ecommerce in 2023 - Speakeasy

• Competing in the Digital Age of Wholesale 2024 - Nuorder

• Adobe: E-commerce Spend Grows to $331.6 billion, as Consumers Trade Down to Cheaper Goods Online

😋 Brands and things I’ve tried this week

Taffy, so much taffy. From Taffy.com

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

Nate :)

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