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Express Checkout #82 - the latest in CPG, Retail, and eComm

CPG and Retail news from the week of 7/8/24

Author

Nate Rosen
July 15, 2024

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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🔥

  • Not so sure about this…but Vera Bradley rebranded, including a new logo, in-store renovations, and an updated overall digital presence. Plus? Vera Bradley unveiled a new product line—with Zooey Deschanel.

    • Look: Vera Bradley isn’t for everyone. But their strong identity is now kinda…bland. 🤷 My friend Brooke did a solid breakdown over on TikTok.

  • Remember Flip? The social commerce platform first went viral for tossing free money to the world, and now it’s offering…shopping advice? Flip acquired Curated, a marketplace connecting consumers with experts for personalized advice on high-value purchases, for $330 million in stock.

  • Costco is raising membership fees…for the first time in seven years. On September 1, U.S. and Canada Gold Star and Business memberships will rise by $5 to $65, Executive Membership fees will go up by $10, and the maximum annual 2% Reward will go up from $1,000 to $1,250. This increase will affect ~52 million memberships.

  • NA beer keeps growing. Athletic Brewing Company raised an additional $50 million in equity financing to meet rising consumer demand for nonalcoholic beer. The company, which holds over 19% market share within the NA beer category, has seen significant growth and is now valued at $800 million.

  • …yet the US Whiskey Boom is in full swing. Pernod Ricard established a new Global Brand Company called North American Distillers. NADL will oversee the production and marketing of premium American Whiskey brands, including the highly anticipated Jefferson's distillery.

🗞️ News from the week (7/1/24 - 7/7/24)

🛒CPG & Consumer Goods

  • Costco introduced a private-label whey protein powder under the Kirkland brand.

  • Everyone and their mother is launching in Ulta:

  • Native launched a new Whole Body Deodorant Cream, joining so (so) many brands like Dove on the whole-body bandwagon.

    • Vox has a great take on the whole-body trend.

  • Being, a new inclusive hair care brand, debuted at Walmart with products designed for all hair types—and each product is under $7.

  • US plant-based food company, Credo Foods, launched the world's first oat milk-based vegan spray cheeze.

  • California-based Ripple Foods launched Ripple Shake Ups Protein Shakes targeting kids…well Ripple says tweens 🤣

  • Fancypants, an absolutely incredible crispy cookie brand, introduced its first gluten-free flavor, Chocolate Chip.

  • Joe Tea, a popular tea beverage brand, introduced its products in cans.

  • Butter Buds Inc. launched Cheese Buds Simple Cheddar Cheese Concentrate (how fun?), a clean-label dairy ingredient that enhances cheddar cheese flavor with minimal usage levels.

  • Big Idea Ventures launched Bayou Best Foods, a new company in the plant-based seafood space, using intellectual property from alt-shrimp startup New Wave Foods.

💻 eCommerce

  • Indiegogo launched IndieShop, an ecommerce joint that allows users to purchase products developed via crowdfunding and soon bring successful crowdfunding projects to physical locations. (It’s actually wild to me that this never existed before…)

  • According to a new FTC study, 76% of subscription apps and websites use "dark patterns,” AKA manipulative design techniques that can compromise user privacy or influence purchasing decision.

  • Etsy updated its seller policy to address the influx of AI-generated products on its platform: Sellers now must classify items with labels that indicate the level of human involvement in their creation.

  • parcelLab launched "Trending Late AI," a new AI feature that predicts potential delivery delays in e-commerce shipments.

  • eBay launched its Business Cash Advance program to provide pre-approved funding to sellers with fast turnaround.

  • Amazon's Rufus AI assistant is now available to all U.S. customers in the Amazon Shopping app.

  • Superfiliate acquired Off Script, a company in the creator space that facilitates collaboration between brands and creators.

🛍 Retail

  • Barneys New York plans to expand its product offerings and distribution after Saks Fifth Avenue acquires Neiman Marcus Group. The brand aims to sell a broader range of products at Saks and Neiman Marcus stores.

  • Hobby Lobby is set to open its second location in New York City, leasing a 70,700-square-foot space in Tribeca.

  • Kotn, a Canadian clothing retailer, opened its second store in New York City's Lower East Side—part of its plans for global expansion.

  • Big Lots, a discount retailer based in Ohio, plans to close ~40 stores in 2024 due to elevated inflation impacting customers' buying power.

  • Batteries Plus received a $7 million grant from the U.S. Department of Energy to develop a new battery recycling solution.

  • Marky Mark’s Municipal, an active lifestyle brand, opened its first physical store on Melrose Avenue in West Hollywood—part of a major retail expansion plan.

  • Stop & Shop announced plans to close 32 underperforming stores by the end of the year.

  • Hy-Vee partnered with VusionGroup to implement electronic shelf labels in over 230 stores.

🏭 Supply Chain

💸Funding news

  • The Bouqs Company launched three shop-in-shops inside Whole Foods Market in California, as well as securing over $23 million in new capital. The funding was provided by CrowdOut Capital, with both debt and equity participation.

  • InvestBev, a private equity firm based in Chicago, received a $50M facility from Victory Park Capital.

  • Beauty Bakerie was acquired by West Lane Capital Partners, joining Blooming Brands, the portfolio company that houses Mented, Seven, Blossom, and Blue Cross Nail Care.

  • WSG Brands acquired the iconic American fashion brand Von Dutch.

  • Alliance Consumer Growth—a growth equity firm focused on “rising star” consumer brands—closed a $160 million fund, marking its fifth fund since its founding in 2011.

  • Lotus Foods, a global pioneer in regenerative rice farming, announced a transformative investment of $22.5 million from Grounded Capital.

  • Kudos, a company that produces cotton-based disposable diapers, raised an additional $3 million in funding.

🧐Interesting reads

💡Data, reports, and trends

😋Brands and things I’ve tried this week

Former Daring Foods founder, Ross Mackay, was kind enough to send me some of his recently launched Cadence! it’s a new hydration RTD, and it’s really tasty!

I also got a lovely package with some Sauz tomato sauce!! We used the lemon one and it’s freaking top notch 🤌

Nate :)

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