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Express Checkout #76 - the latest in CPG, Retail, and eComm

Commerce and CPG news from the week of 5/27/24

Author

Nate Rosen
June 03, 2024

Hello hello!

Happy Monday! Look at this gorgeous piece of beer history I picked up at a sidewalk sale this weekend

Rheingold is a now defunct beer brand with some rich history.

Also, I wanted to shout out my friend Lily Osman who just launched her new brand Sole Cookware, a new knife designed for comfort and customization! You can back it here on Kickstarter

📊 Check out my new weekly series with Spate, where we dive into the latest trends taking TikTok by storm –– read last weeks insights HERE.

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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 🔥

  • The Poppi bubble is popping - According to a new lawsuit, the trendy prebiotic soda brand Poppi, promoted by celebrities like Kylie Jenner and J-Lo, may be misleading consumers with its claims of gut health benefits. The lawsuit alleges that the low-sugar sodas contain such small amounts of prebiotic fiber that the average consumer wouldn't experience any health benefits. The complaint also raises concerns about the potential negative effects of an inulin-based diet. Source

  • Dairy and now…beer? - San Francisco's iconic beer company, Anchor Brewing, has been acquired by Hamdi Ulukaya, the founder and CEO of Chobani and owner of La Colombe coffee company. source

  • Another creator fund - Pinterest has expanded its Creator Inclusion Fund to include small business owners from underrepresented backgrounds. The fund provides a six-week accelerator program to help founders expand their brands and businesses using Pinterest. Source

  • More retailers cutting prices

    • Walgreens is joining other retailers in cutting prices on over 1,500 items, including snacks, toiletries, and even Squishmallows. source

    • Amazon Fresh is cutting prices on thousands of items, including national brands and Amazon's store brands. The lower prices will be available both in-store and online. Source

  • CVS founder has passed - Stanley P. Goldstein, co-founder of Consumer Value Stores (yes that’s what it stands for), has passed away at the age of 89. Goldstein, along with his brother and a 3rd founder, opened the first CVS store in 1963, offering discounted personal care items. Under his leadership, CVS expanded to 4,000+ stores by the time he retired as CEO in 1998. Today, CVS has 9,000+ outlets. Source

  • I mostly wear Abercrombie these days - Abercrombie & Fitch has really made quite the comeback, they just announced a revenue milestone of $1 billion. source

  • Suntory coming for another iconic American brand - Japanese whisky-maker Suntory is in early talks to acquire Boston Beer, the American brewer known for its Samuel Adams brand. The discussions are still in progress. source

    • They also own Jim Beam and Maker's Mark

🗞️ News from the week (5/27/24 - 6/2/24)

🛍 Retail

  • Walmart is expanding its InHome delivery service to 10 million additional households. source

  • TJX, the parent company of TJ Maxx, Marshalls, HomeGoods, and Sierra, plans to expand its store footprint by at least 1,300 stores in the long term. source

  • Beyond Yoga has expanded its presence on the West Coast with the opening of a new store in Washington state. Source

  • Criteo has announced a new partnership with Dollar General Media Network. The partnership aims to enhance Dollar General's onsite sponsored ad offerings. source

  • Varley, a London-based fashion brand, is set to open its first brick-and-mortar store in New York City's SoHo neighborhood. Source

  • T&T Supermarket Inc. has announced plans to open a second location in Washington State. source

  • Dollar Tree Inc. is acquiring 99 Cents Only Store’s intellectual property in North America as its competitor goes out of business. The dollar store acquired the IP alongside the designation rights of 170 99 Cents Only stores in Arizona, California, Nevada, and Texas. source

  • Halara, a TikTok-famous athleisure brand, has opened its first temporary pop-up store in New York City's Soho. The brand plans to expand its retail presence with more pop-up locations in the U.S. and worldwide. Source

🛒 CPG & Consumer Goods

  • Activewear company Rhone is introducing Custom Made by Rhone, a 3D apparel technology that captures customers' measurements for tailored products. source

  • The Kroger Co. is celebrating National Pet Month by expanding its private label pet food brand Abound pet food products. source

  • Erewhon Market's latest smoothie collab is with the suncare brand Vacation Inc, they made a Coconut Super-Blend, with 5 organic coconut-based ingredients. source

  • UK-based brand Quarter Proof has undergone a rebranding due to legal challenges regarding labelling guidelines. The brand, formerly known as Quarter, created lighter spirits as alternatives to gin and Tequila. They will also release ‘Three Grain Spirit’ 15% ABV that is made with vodka in June. Source

  • True Religion has entered the shapewear market with a new blue jean designed to shape your butt. source

  • B.B.C., formerly known as Black Beauty Collective, has rebranded and opened a new location in Los Angeles. Source

  • Innovative Eyewear has launched the Eddie Bauer Smart Eyewear collection, featuring voice access to ChatGPT. source

  • Elavi has introduced a new marshmallow flavored cashew dessert spread. This sweet treat is low in sugar, high in protein, and free from added sugar, sugar alcohols, gluten, and artificial ingredients. source

  • Ferrero, the confectionery giant, will finally launch a vegan version of Nutella in Europe this autumn. Source

  • Jif peanut butter, has apparently launched its “biggest” flavor innovation in almost a decade with the introduction of a chocolate spread 😐 source

  • ZENB, a plant-based pasta maker, has introduced a new line of craft ramen made from 100% whole yellow pea base offering 18 grams of protein and 11 grams of fiber per serving. source

  • Suja Life, the leading functional wellness platform, has acquired soda brand Slice. With this acquisition, Suja Life expands its better-for-you beverage portfolio. Slice will be reintroduced in 2025. Source

💻 eCommerce

  • SpreeAI is new tool offering personalized consumer experiences and precise sizing customization. Through its innovative integration of AI, shoppers can virtually try on outfits in a photorealistic setting. source

  • TikTok Shop has decided to put its European plans on hold and focus on the US market instead. Source

  • Takeoff Technologies, a provider of e-grocery fulfillment solutions, has filed for Chapter 11 bankruptcy protection. source

  • Tastemade and Shopsense AI have launched a shoppable home improvement series called "Kitchen Glow Up." Hosted by chef Ellen Marie Bennett, the series allows users to shop for kitchen items featured in each episode. Source

  • Rakuten is launching Rakuten+, its first paid membership program focused on designer brands. The program aims to connect designer brands with highly engaged shoppers, offering at least 10% cash back on participating brands and retailers. Source

  • L’Occitane has introduced a new virtual fragrance experience called L’Occitane Greenhouse. The virtual environment, inspired by the region of Provence, showcases the company's range of summer fragrances. Source

🏭 Supply Chain

  • Amazon has received FAA approval to fly drones farther and deliver to more customers, expanding their Prime Air drone delivery service. This approval allows Amazon to operate drones beyond visual line of sight. Source

  • Atlas Air will cease flying freighter aircraft in Amazon's domestic parcel network to focus on international widebody service for its expanding customer base. source

  • Yotvata Dairy Farm has made a significant investment in Mileutis, an Israeli biopharmaceutical company, to enhance milk quality and sustainability in the dairy industry. source

  • Molson Coors has announced that it will start brewing Peroni in the United States to supply the U.S. market. Source

  • The Duckhorn Portfolio has signed distribution deals with Republic National Distributing Company and Breakthru Beverage Group. RNDC will distribute Duckhorn wines in 21 states, while BBG will handle the products in ten states and the District of Columbia. source

💸 Funding news

  • Squared Circles, the venture studio behind Nutrafol and other health, wellness, and food brands, raised $40 million in a Series A funding round led by private equity firm L Catterton. Source

  • (Re)vive, a NYC-based provider of a solution for unstockable and returned inventory, has raised $3.5M in Seed funding led by Equal Ventures and existing investor Hustle Fund, with participation from Banter Capital, Coalition Operators, Mute VC, Veronica Chou, Charge VC, Everywhere VC, and Hyphen Capital. Source

  • Remark, a New York-based product guidance startup, has raised $10.3 million in funding. The company aims to make online retail more human for shoppers and more profitable for e-commerce brands. Backers of the funding round include Spero Ventures, Stripe, Shine Capital, Neo, Sugar Capital, and Visible Ventures. source

  • Pharmaceutical and supplement company Megalabs has acquired a majority stake in hair growth brand DS Laboratories to strengthen its presence in dermatologists' offices. DS Laboratories is projected to exceed $60 million in sales this year. Source

  • 2.0 Ventures has acquired a majority stake in Feat Clothing. source

  • CoreFX Ingredients has announced the expansion of its portfolio through the acquisition of Connoils. source

  • Golden Goose has confirmed its plans to launch an IPO on the Euronext Milan stock exchange. Source

🧐 Interesting reads

💡 Data, reports, and trends

Advances in cold chain technology have made it easier to manage temperatures from farm to fork, but the fact remains that many foods are incredibly sensitive to changing temperatures. Beyond significant temperature excursions that will destroy an entire load, there is risk across the perishable supply chain that can have real impact and contribute to the global epidemic of food waste. Just a few hours spent outside of temperature specification can alter texture, coloring, taste and product safety towards consumption. This is frequently damage that isn’t visible until the items reach the retail point of sale, which can lead to items sitting on a shelf or in a bin until the retailer makes the call to discard them. All that’s happening in that scenario is kicking the food waste can down the road to the retailer. In order to truly move the needle and reduce food waste with refrigeration, companies need to be able to harness the temperature sensor data flowing across their supply chain and combine it with modern, active data that unlocks predictive insights, enabling them to improve operational efficiency and reduce product loss

Ilya Preston, co-founder and CEO, PAXAFE - a platform for supply chain visibility, prediction, risk management, and optimization

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

Nate :)

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