Prada agrees to acquire Versace, Constellation Brands sells six wine brands, ButcherBox expands to Target Online, Harry's Inc Rebrands to Mammoth Brands & More
Consumer Roundup #114: The Latest News in Consumer
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Hey friends,
Thanks for subscribing. For those in Austin, come on out on May 5th as we’re throwing a Consumer VC Live. I’ll be interviewing CPG legends Clayton Christopher and Brian Goldberg. followed by a happy hour. Thank you Brown Advisory for hosting us.
We’re also kicking off a new section: Just One More Tab.
It’s a few links to content I enjoyed from this week—some related to consumer and venture, others just interesting rabbit holes that you might enjoy.
Just One More Tab
How Tariffs Affect Climbing Gear Prices Video
I’m not a climber, but someone shared this video with me that’s a retailer who sells climbing gear. He offers a candid look at what vendor conversations really sound like right now—and how tariff headwinds are impacting everyone in the supply chain and how he’s thinking about pricing products.
Acquired - Indian Premier Cricket League episode
I love the Acquired podcast. I love sports. But I’ll be honest…I don’t know much about Cricket. Really enjoyed this episode about how the Indian Premier Cricket League became one of the most valuable sports leagues in the world…and it’s only 17 years old. Highly recommend
Hyberlegible – Parakeet interview episode
Packy McCormick chats with Parakeet about her brilliantly bizarre (and amazing) post Skittle Factory Dementia Monkey Titty Monetization. It’s a wild ride through identity, memory, and dementia with incredible metaphors—equal parts deep, humorous, and certainly delightful. Give it a listen (and a read).
On to the news–––––––
📰 Consumer News📰
China has raised tariffs on U.S. imports to 125%, effective Saturday, in response to the U.S. increasing its own tariffs to the same level. The move follows a series of escalations between the two countries, with China signaling it won't retaliate further if the U.S. hikes duties again. This trade war could lead to a significant decline in U.S.-China merchandise trade, potentially reducing global GDP by nearly 7%, according to the World Trade Organization. RD
Nearly 40 female founders from consumer packaged goods brands, generating over $800 million in revenue, are urging President Trump to exempt small businesses from tariffs. In an open letter, they argue that tariffs disproportionately hurt small businesses, which make up 43.5% of U.S. economic activity. The group calls for exemptions, tariff impact assessments, and support for shifting operations to the U.S. BI
China has paused the nearly finalized deal to sell TikTok’s U.S. operations in response to President Trump’s new 54% tariffs on Chinese goods, prompting Trump to extend the sale deadline by 75 days. The deal would have created “TikTok America,” with U.S. companies holding a majority stake, but China is now holding off until trade negotiations resume. RTP
President Trump has announced a 90-day pause on newly imposed reciprocal tariffs for all countries except China. The move comes after global pushback and negotiations from over 75 countries. China remains excluded from the pause after retaliating with its own steep tariffs and halting TikTok sale discussions. Tariffs on Chinese goods will rise to 125% immediately. RTP
For Monthly Deals & Full Content
🧃Consumer Brands👚
💸M&A💸
Prada has agreed to acquire Versace from Capri Holdings for $1.375 billion, including debt, bringing together two iconic Italian fashion houses. The deal comes as Prada looks to expand amid strong performance, while Versace has faced recent losses. It also follows Donatella Versace’s departure as chief creative officer. CNN
Constellation Brands has sold six wine brands, including Woodbridge, Meiomi, and Cook’s, to The Wine Group for approximately $900 million. CEO Bill Newlands stated that the company is focusing on higher-growth segments in its wine and spirits portfolio. JD
Digital health company Wellkasa has acquired supplement brand Peak + Valley, known for its $29.99 adaptogenic capsules like Restore My Sleep and Nourish My Brain. Peak + Valley founder Nadine Joseph will remain an advisor, while Wellkasa president Melissa Mehrotra takes over as CEO. The acquisition expands Wellkasa’s retail reach and supplement offerings. BI
Hershey is acquiring healthier snack maker LesserEvil for around $750 million, expanding its salty snacks portfolio and entering new categories. FD
Guatemala-based conglomerate Castillo Hermanos is acquiring Harvest Hill Beverage Company, the owner of SunnyD, Juicy Juice, and Little Hug, in a deal reportedly valued at around $1.5 billion. The acquisition marks Castillo Hermanos’ push into the U.S. market, expanding its global portfolio of over 75 brands across 35 countries. FD
🚀Debuts, Distribution & Expansions🚀
ButcherBox has joined Target’s online marketplace, offering its meat and seafood products without a subscription for the first time. The move aims to attract new customers by removing the commitment barrier of its traditional subscription model. MR
Casablanca will open its first U.S. store in Beverly Hills this July, marking its second brick-and-mortar location. The 5,400-square-foot store, located at 469 North Canon Drive, follows the brand's debut Paris location opening in May. WWD
Paloma Wool has opened its first permanent store in SoHo, New York, at 425 Broome Street. The 4,000-square-foot space marks the brand’s shift from pop-up shops to a permanent location after years of successful temporary stores worldwide. WWD
DTC footwear brand Vivaia has opened its first U.S. store in New York City's SoHo neighborhood. The 900-square-foot space at 68 Prince Street follows a successful pop-up in the same location last year. RD
Walmart's e-commerce segment has become profitable, and despite the impacts of tariffs and volatile sales, the retail giant remains optimistic. During an investor meeting, executives stated that the company is still forecasting a 3-4% sales growth for the current quarter and full year. RD
Herman Miller is expanding its e-commerce presence by launching country-specific sites in four more European markets. Sweden, Denmark, and Spain are already live, with Finland's site set to launch on May 28, 2025. RTP
New skincare brand Glean aims to elevate qasil, a traditional East African botanical, to the level of popular African ingredients like shea butter and marula oil. Qasil, made from dried leaves of the gob tree, is a staple beauty product in Somalia, used for treating acne, dark spots, redness, and for brightening. BI
Science-backed skincare brand Mark Los Angeles has launched in retail and spa locations through Formula Fig, marking its first brick-and-mortar distribution. BI
Sam’s Club plans to open 15 new stores per year and double its membership over the next 8-10 years, while remodeling all 600 locations to follow its digital-first model inspired by its Grapevine, Texas store. RTP
Nestlé’s Maison Perrier is launching a line of non-alcoholic sparkling cocktail-inspired drinks in the U.S. this month, following its 2024 debut in Canada. The move taps into growing consumer demand for flavorful mocktails that offer a social experience without alcohol. FD
Mondelēz International is investing $79 million in its Toblerone manufacturing facility in Bern, Switzerland, to support its goal of becoming the top chocolate company by 2030. This investment aims to strengthen Toblerone’s position in the premium chocolate market and enhance its global presence, particularly in travel retail, despite the challenges posed by rising cocoa prices. FD
↪️Rebrands & Relaunches↩️
Harry's Inc. has rebranded as Mammoth Brands to reflect its expanding portfolio of personal care brands, including Harry’s, Flamingo, Lumē, and Mando. The new name aims to represent the company's ambition to scale these brands into category leaders. RD
Variety Wholesalers will reopen 219 Big Lots stores starting April 10, 2025, after acquiring assets from the bankrupt discount chain. The first nine stores will open across six states, with 55 more following on May 1 and the rest opening through early June. A grand opening celebration is planned for this fall. RTP
🪇Collabs🪇
Knix, the DTC intimates brand, has partnered with Canadian department store Holt Renfrew to expand its retail presence. The collaboration includes a select range of Knix products available both online and at six Holt Renfrew locations, including two pop-up shops in Toronto and Vancouver. RD
Campari has partnered with Southern Glazer’s Wine & Spirits to handle the distribution of its spirits in Canada, effective April 1. Previously, Campari managed its own distribution network in the country. JD
Temu has partnered with Eurofins Consumer Product Testing to improve product safety, quality control, and transparency on its platform, aiming to address concerns over hazardous products. This move comes amid scrutiny from U.S. regulators, who have called for investigations into Temu and Shein over product safety issues, highlighting ongoing uncertainty around retailers' responsibilities for third-party products. RTP
🔻Closures, Bankruptcies & Downsizes🔻
Guess is set to close around 20 underperforming stores in North America due to continued traffic declines. Despite revenue growth driven by the acquisition of Rag & Bone, profits plummeted during the holiday quarter. Net earnings dropped by 30% year-over-year, totaling $84 million. RD
Post Holdings plans to close its cereal plants in Cobourg, Ontario, and Sparks, Nevada, by the end of 2025, cutting about 300 jobs. The closures come as the cereal category faces ongoing challenges from shifting consumer preferences toward low-carb, low-sugar, and more convenient breakfast options. FD
TreeHouse Foods is cutting 150 corporate jobs, including eliminating the chief commercial officer role, as part of a restructuring effort to improve efficiency and reduce costs. This move aims to enhance profitability and cash flow following two major product recalls since 2023 and ongoing efforts to streamline its operations and boost growth prospects. FD
💻Consumer Software💻
💰Fundraises💰
Alinea Invest, a Gen Z-focused investing app, raised $10.4 million in Series A funding. Founded by Anam Lakhani and Eve Halimi in 2021, the platform now has over 1 million users — 92% women and 70% Gen Z — and saw 6x revenue growth last year, reaching a $6M run rate with a 10-person team. FX
Bliss Aesthetics, an AI-powered platform for cosmetic surgery, raised $17.5M in Seed funding led by Shine Capital. The platform helps patients preview procedures and match with providers — with Dr. Miami among its early partners. Bliss operates with a 30-person team across Israel and the U.S., targeting a cosmetic procedure market expected to surpass $200B in the next decade. CT
Cofertility, a fertility startup, raised a $7.25M Series A led by Next Ventures. The company offers women free egg freezing if they donate half their eggs to families struggling with infertility. Founded by former Uber exec Lauren Makler and health tech investor Halle Tecco, Cofertility has now raised $16M total to expand its alternative fertility care model. TC
Linus, an SAT prep platform, raised $5M in seed funding led by Owl Ventures to transform SAT preparation into a fun, free, and effective experience. Founded by gaming industry veterans, Linus combines proven teaching methods with game-like experiences to engage students. YF
Series, an AI-powered social platform, raised $3M in pre-seed funding to revolutionize social networking for college students. Unlike traditional platforms that focus on vanity metrics, Series aims to foster meaningful connections. The funding round was led by Parable, with participation from Pear VC, Tim Draper’s DGB.VC, and several notable angels, including Reddit CEO Steve Huffman and GPTZero founder Edward Tian. CB
SigIQ.ai, an AI tutoring startup, raised $9.5M to provide elite-level education at a low cost. After its AI tutor aced India's UPSC exam, the company plans to scale personalized education worldwide. The seed round was co-led by House Fund and GSV Ventures, with support from Duolingo and top tech and academic investors. GNW
Travel fintech startup Scapia raised $40 million in an equity funding round led by Peak XV Partners, with participation from Elevation Capital, Z47, and 3State Capital. The company, founded by former Flipkart executive Anil Goteti, focuses on travel-related financial solutions. TET
Airvet, a leader in pet telehealth, raised $11 million in its oversubscribed Series B-2 funding round, led by HighlandX, with participation from HIPstr, the early-stage investment arm of HighPost Capital. AV
🛒eCommerce & Retail Tech🛒
💰Fundraises💰
Turkish fintech Sipay raised a $78M Series B at an $875M valuation to expand its Stripe-like payments platform into emerging markets. Alongside payments, Sipay plans to offer services like remittances that Stripe doesn’t currently provide in those regions. The round was led by Elephant VC, with participation from Revolut co-founder Nik Storonsky’s QuantumLight. TC
Glimpse, an AI-powered deduction management service for CPG brands, secured $10 million in an oversubscribed Series A funding round led by 8VC, with participation from YCombinator, Origin Ventures, Informed Ventures, and new investor Allison Pickens. The funds will help expand its services to recover revenue lost to incorrect retailer deductions. GNW
French fashiontech startup BLNG raised $3M to accelerate its commercialization and provide generative AI tools for the jewelry industry. The funding round, led by Speedinvest with participation from Cove Fund, eSeed, and Focal, will help expand the team in Europe and the U.S. and prepare for the broader launch of its subscription-based app. TEU
Pax raised $4.5M in seed funding, led by Initialized Capital, to modernize the duty drawback process for businesses. The AI-powered platform makes it easier for companies of all sizes to reclaim tariffs paid, improving accessibility and maximizing refunds. The funding will help streamline the process through partnerships with brokers and tech providers. PAX
Fairly Made, a Paris-based sustainable fashion scale-up, raised €15 million to enhance its technology platform. The funding, led by BNP Paribas Solar Impulse Venture Fund and others, will support its mission to address environmental and societal challenges in fashion, expanding its team and accelerating global growth. EUS
Merama Inc., a Latin American e-commerce holding company, raised $215 million in equity and debt funding, bringing its valuation to over $1 billion. Investors included 3G Capital founder Marcel Telles, Advent International, SoftBank, and Valor Capital Group, with Balderton Capital and Monashees Capital also participating. BB
💰Funds Raising Funds💰
Lerer Hippeau has closed a $200M ninth seed fund to invest in pre-seed and seed-stage companies, marking its largest fund to date. The NYC-based VC firm, celebrating 15 years of backing early-stage founders, continues its focus on being a founder-first partner, with several of its portfolio founders joining as limited partners. BW
Utah Jazz owner Ryan Smith is launching a $1 billion venture capital fund, Halo Experience (HX One), with longtime Accel partner Ryan Sweeney, focusing on growth-stage tech companies in the "experience economy," including sports. AX
SignalFire has raised over $1B across new funds as limited partners increasingly embrace its data-driven approach to early-stage investing — a strategy once met with skepticism when the firm launched 13 years ago. TC