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- Express Checkout #78 - the latest in CPG, Retail, and eComm
Express Checkout #78 - the latest in CPG, Retail, and eComm
CPG and Retail news from the week of 6/10/24
Nate Rosen
June 17, 2024
Sponsored by
Hello hello…from Dallas! I’m out here for Subsummit, if you’re here please say hi!
I started Express Checkout to be as helpful as I can, and I want to make sure I continue doing so! I come across a ton of investors, brands, eComm tools, and I’d like to put that knowledge to work!
If you’re thinking about raising, thinking about using some new Shopify tool, etc please consider me an (mostly) unbiased resource!
My other ask, if you are enjoying my newsletter please share with anyone you think would benefit from it! 🙏
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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 🔥
First of many -SKIMS, the shapewear and clothing brand founded by Kim Kardashian, has opened its first permanent store in Georgetown, DC. source
Express Saved - PHOENIX, a joint venture led by WHP Global, has received court approval to acquire the operations of Express for ~$174 million. The approved bid is a collaboration between a brand management firm and three key landlords. The deal also includes the Bonobos brand, which Express had purchased with WHP last year. source
Omsom acquired - DayDayCook, a public multi-brand Asian consumer food company, has announced the acquisition of Omsom, a popular Asian food brand known for its sauces and noodles. source
this is an interesting acquisition because DayDayCook is a public company we got the details — total purchase price: $11.7M over 4 years - 50% cash and 50% stock
Care/off - Subscription vitamin company Care/of is shutting down and will be canceling all subscriptions and no longer accepting new orders. Care/of had offered personalized subscription vitamin packs and was acquired by pharmaceutical giant Bayer in 2020. source
🗞️ News from the week (6/10/24 - 6/16/24)
🛍 Retail
LVMH, the luxury giant, has announced its investment in Orient Express trains, ships, and hotels. Teaming up with French hotel operator Accor, the goal is to accelerate the development of ultra-luxury experiences. source
Ulta Beauty and Credo have recently ended their partnership, which had brought clean beauty products to Ulta stores. source
Cannabis brand Pot + Pan has opened its first retail store in Portland, Maine, offering a curated selection of kitchenware and lifestyle products alongside a 21+ cannabis experience. source
Kohl’s has expanded its return services with The Return Drop @ Kohl’s, allowing customers to make packageless and label-free returns from select retailers and brands at its stores nationwide. In partnership with Inmar Post-Purchase Solutions and Narvar. Source
Revolve Group has announced the opening of its first permanent physical retail location in Aspen, Colorado, following the success of its pop-up store. source
Ahold Delhaize USA has partnered with Mark Cuban's online pharmacy company, Cost Plus Drug Company. Source
Walmart is relaunching its private-label fashion brand, No Boundaries, to target GenZ consumers. The line will include clothing, shoes, and accessories, with the majority of items priced under $15. source
J.C. Penney plans to close four stores across different states in the coming months as part of its turnaround efforts. The department store has been unable to find suitable locations for new stores, leading to the planned closures. Source
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Bloom Nutrition launched a new Colostrum and Collagen Powder Source
Balkan Bites, a female and family-owned frozen food business, has announced the launch of Mini Phyllo Rolls, expanding their line of traditional Balkan flaky pies. Source
Jake Paul, the popular YouTuber turned boxer, is launching an affordable men's personal care brand called "W" at Walmart. source
Christina Aguilera is launching a new 'Wild Rose and Cream' lubricant and an intimacy tip hotline under her brand The Playground. Source
Café Bustelo introduces their first-ever multi-serve iced coffee collection, featuring three bold flavors. The Espresso Style Iced Coffee lineup includes unsweetened, sweetened, and vainilla varieties. source
Function of Beauty expands into Amazon, introducing its Target and Function of Beauty Pro lines to its DTC site. Source
More and more brands have been expanding into Amazon for the first time recently
Pretty Smart, a new female-founded beauty brand, has officially launched exclusively at Walmart. The brand offers a line of quality beauty products inspired by luxury brands, but at an affordable price point. source
Too Faced, a makeup brand under Estée Lauder, has recently launched its storefront on the U.S. Amazon Premium Beauty store. Source
Rihanna's Fenty just launched their first hair care line of products. source
New Balance is introducing an in-store trade-in program in nearly 100 locations in partnership with Archive. The program allows customers to trade in their used items for a voucher card. Source
The EVERY Co. and Landish have collaborated to launch FERMY, a new line of functional coffee and latte mixes with fermented egg proteins. The products, Protein Coffee Enhancer and Protein Matcha Latte, offer 8 grams of protein. Source
Snoop Dogg has partnered with wine producer 19 Crimes to create Cali Cocktails, a new RTD cocktail brand. Source
New Amsterdam and Hot Ones have collaborated to launch Heat Check, a limited-edition hot pepper-flavored vodka. source
Jason and Travis Kelce have partnered as significant owners and operators of Garage Beer, a fast-growing independent light beer brand. Source
Belgian Boys has introduced two new refrigerated breakfast products: Griddle Pancakes and Bite-sized Belgian Chocolate Chip Pancakes. source
Nixie has recently launched an organic zero sugar soda line, catering to the increasing demand for healthier beverage options. source
DAVIDsTEA has recently ventured into the ready-to-drink market with the introduction of their Cold Brew in a can. source
Perfect Day has filed a $200 million counterclaim against its ex-partner Olon, accusing them of "gross negligence" and "willful misconduct." The counterclaim comes after a rough patch for Perfect Day, which recently sold its consumer brands and laid off a portion of its workforce. Source
B.T.R. Nation has partnered with Blue Bottle Coffee to launch a superfood protein bar. Source
💻 eCommerce
AccelPay, a provider of payment and eCommerce solutions for the alcohol industry, is expanding its services to the United Kingdom and EU. source
Bold Commerce has introduced new upsell and cross-sell capabilities for Bold Subscriptions for Shopify Checkout through an integration with Bold Upsell. source
Ebay has announced that it will be adding Venmo as a payment option in the U.S. This comes after Ebay publicly stated that it would no longer accept American Express due to high fees. Source
Poshmark has launched Posh Party LIVE, a new virtual shopping experience that combines live selling technology with curated listings. source
Michael Kors is the first retailer to introduce Shopping Muse, an AI-powered shopping assistant developed by Dynamic Yield in collaboration with Mastercard. Initial tests apparently have shown a 15-20% higher conversion rate compared to traditional search queries. Source
🏭 Supply Chain
Nippon Express has launched an air freight service connecting Nagoya, Japan, and Cincinnati, Ohio. The "Ohio Midnight Express" service offers same-day delivery within Ohio. Source
Tupperware is closing its only U.S. manufacturing plant in South Carolina and laying off 148 workers as part of a multi-year strategy to simplify its supply chain. Source
PB2 Foods is bringing its manufacturing process in-house. source
💸 Funding news
RG Barry Brands, a multi-brand management platform, has been acquired by Marubeni Growth Capital US, a consumer-focused growth equity investment platform in the US. Source
Ship Angel, a provider of an AI-native platform for international shippers, has raised $5 million in funding led by Glasswing Ventures and newark venture partners, with participation from Bienville Capital, Socii Capital, and Plug and Play. Source
RetailReady, a startup founded by recent graduates of the YC winter 2024 cohort, has raised $3.3 million in seed funding for their AI warehouse app. Source
Newport Craft Distilling has acquired KEEL Vodka, a Rhode Island brand, expanding their spirits lineup. source
Agave spirits brand Wild Common has raised $5 million in a Series A funding round from HIPstr, a division of private investment firm HighPost Capital. Source
Pronghorn, backed by Diageo, has invested in Mocktail Club, a non-alcoholic RTD brand. source
🧐 Interesting reads
💡 Data, reports, and trends
😋 Brands and things I’ve tried this week
Gin and Vodka….made with oysters?! Yeah it’s real and delicious. Thank you Taylor Foxman for connecting me with the team! ISCO is distillery located in Providence, Rhode Island that produces sustainably sourced vodka, gins, bourbons and specialty spirits.
Thanks for reading! If you have any suggestions, feedback, or stories I missed, let me know!
Nate :)
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