Quince Raises $200M, Overstock Leaning Into Luxury, and more
The Consumer VC Roundup #129, Latest News in Emerging Consumer Brands, Tech & Commerce Enablement From the Week of July 28th
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Events:
Friday, August 22nd 👉 Rise, Roast, & CPG at Newtopia Now
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Tuesday, September 16th 👉 Embark Summit in Bentonville, AR
Embark Summit is a strategic, one‑day hub for those building tomorrow’s consumer brands—bringing action‑able content, curated experiences, and unrivaled connections in the heart of retail innovation. We’re delighted to be running the Showcase Stage. We also have some brand showcase opportunities for brands. Submit here
📰 Consumer News📰
Skechers is pushing back against a patent infringement lawsuit filed by Kizik Designs, which claims it invented the hands-free shoe category. Skechers called the allegations baseless and stated it holds over 140 global patents. While Skechers has previously sued others over slip-in designs, it's now defending its own product line in court. RD
Adidas is preparing for a $230 million tariff impact in the second half of the year but has maintained its full-year outlook, expecting double-digit growth excluding Yeezy and high-single-digit growth including it. Despite millions already lost to tariffs in Q2 and rising volatility due to U.S. trade policy, the company saw revenue rise 2% to €6 billion, or 12% in currency-neutral terms excluding Yeezy. RD
The U.S. will reinstate country-specific tariffs under a new executive order signed by President Trump, setting rates between 10% and 41% for over 60 trading partners. Imports from India will face a 25% tariff, while Canada, Mexico, and China will remain under separate duties. Goods from non-listed countries will default to a 10% levy. The National Retail Federation warned the move could raise prices and disrupt product availability in the coming weeks. RD
Danone has filed a lawsuit against Chobani, accusing it of copying the packaging and slogan of its Stōk cold brew coffee. The suit, filed in Manhattan federal court, claims Chobani’s La Colombe cold brew uses similar black-and-yellow packaging and the phrase “Bright & Mellow,” which Danone says is too close to its own branding. Danone is seeking an injunction to stop Chobani from using the packaging and slogan, as well as monetary damages. FD
🧃Consumer Brands👚
💰Fundraises💰
Quince, the affordable luxury brand known for its viral presence on Instagram and TikTok, is raising $200 million in a new funding round that reportedly values the company at over $4.5 billion. The brand offers affordable luxury across apparel, accessories, and home goods. BOF
Doughlicious, the frozen novelty brand known for its artisanal cookie dough-enrobed gelato bites, has raised $5 million in a funding round led by Rich Products Ventures and The Angel Group, with participation from existing investors. The funding will support the brand’s U.S. and international expansion, backed by RPV’s distribution expertise and The Angel Group’s strategic guidance. PRN
UK-based tempeh brand Better Nature has raised £1.1 million—mostly from existing angel investors—to accelerate its international expansion, enhance marketing efforts, and further innovate its product line. The brand plans to launch a campaign challenging chicken consumption, aiming to tap into the £3.2 billion UK chicken market, following the release of its upgraded, high-protein organic tempeh earlier this year. VG
Atlantic Fish Co. has received a $305,000 Small Business Innovation Research (SBIR) grant from the National Science Foundation to advance its development of scalable cultivated fish fillets, with a focus on black sea bass. The startup aims to replicate the taste, texture, and nutrition of wild-caught fish, contributing to more sustainable and resilient seafood supply chains. VG
💸M&A💸
Private equity firm Onyx Partners has purchased 119 J.C. Penney store locations for $947 million in cash. The deal was announced by Copper Property CTL Pass Through Trust, which was created during J.C. Penney’s 2020 bankruptcy to manage and eventually sell the retailer’s remaining properties. With a January deadline approaching, the trust defended the sale price and the timing of the transaction. RD
Dole has sold its fresh vegetable division to private equity firm Arable Capital Partners—owner of Organicgirl—for $140 million. This move comes after a previously planned $293 million sale to Fresh Express was blocked by the DOJ due to antitrust concerns. The division includes products like lettuce, cauliflower, broccoli, and packaged salads. Dole will retain its facilities in Huron, California, and Yuma, Arizona, as part of the deal. FD
Tapestry has finalized the sale of Stuart Weitzman to Caleres for $120.2 million, allowing the Coach parent company to shift focus to its core handbag brands, Coach and Kate Spade. RD
Waldencast is expanding Obagi’s presence in the aesthetics space by acquiring Novaestiq Corp., marking its entry into the dermal fillers market. BI
B&G Foods has sold its Le Sueur brand—known for premium sweet peas, green beans, and carrots—to McCall Farms, continuing its strategy of streamlining its portfolio. The sale amount was not disclosed. Proceeds will go toward general corporate purposes, including debt repayment and operational investments. FD
Generous Brands, the parent company of Bolthouse Farms, has acquired kombucha leader Health-Ade for $500 million. The deal positions Generous as a major player in the better-for-you beverage space, alongside brands like Olipop and Poppi. Health-Ade, known for its probiotic-rich fizzy teas, is sold in 65,000 U.S. locations and generates nearly $250 million in annual retail sales. FD
🚀Debuts, Distribution & Expansions🚀
Overstock is expanding into the luxury market with plans to launch a fine jewelry and watch category featuring brands like Rolex and Patek Philippe in Q3. The move comes as parent company Beyond Inc. reported a 29.1% drop in Q2 net revenue to $282 million, along with a $19 million net loss. Despite a 30% decline in active customers, the company is shifting its focus to higher-value offerings and a more affluent consumer base. RD
Martha Stewart’s first stand-alone retail store opened in Dubai this May, with two more locations following in the city, and additional stores planned for India, Kuwait, and Saudi Arabia. The launch is a collaboration between brand owner Marquee Brands and Dubai-based Apparel Group, offering an immersive in-store experience that reflects Stewart’s signature style. RD
Ikea will launch its first U.S. shop-in-shops this year through a pilot program with Best Buy, offering kitchen and storage planning services in 10 stores across Florida and Texas. Two locations will also act as free Ikea order pickup points. Each in-store setup will feature a 1,000-square-foot space showcasing kitchen and laundry room solutions. RD
Framebridge has expanded to California with new stores in Palo Alto and Santa Monica, marking its first West Coast presence. The DTC custom framing company now operates 38 locations across 15 states and plans to open four more California stores in October, including Berkeley, Studio City, Larchmont, and West 3rd Street in Los Angeles. RD
DTC beauty brand Ogee, which has surpassed nine figures in revenue through online sales, is expanding into physical retail with a new launch at Nordstrom, marking a major step in its growth strategy beyond e-commerce. BI
Beauty Creations, led by founder and CEO Esmeralda Hernandez, has surpassed $84 million in sales by strategically leveraging nostalgic IPs like My Little Pony and Barbie—not just as marketing tools, but as key drivers of brand growth and consumer engagement. BI
New e-tailer The 2nd is aiming to become the “Sephora of men’s skincare,” offering a streamlined shopping experience tailored specifically to men’s grooming and skincare needs. BI
RMS Beauty has expanded its retail presence by rolling out to 200 Ulta Beauty stores, following the online launch of its lip oils last October. The clean beauty brand now offers over 30 products and 120 SKUs in makeup and skincare at the specialty retailer. BI
Amazon is expanding its car sales to include used and certified pre-owned (CPO) vehicles, starting in Los Angeles and rolling out to more U.S. cities soon. After launching with new Hyundai cars in December 2024, the platform now allows participating dealers to list non-Hyundai used vehicles. The experience includes financing, leasing, and trade-in options, with customers only visiting the dealership to pick up the car—mirroring moves by competitors like Alibaba and eBay. RTP
🪇Collabs🪇
Beyond Yoga has launched a new brand platform, Seek Beyond, in partnership with actor Issa Rae, who wrote and voiced the campaign's anthem. The initiative highlights lifestyle progress over perfection and features real stories from influencers like Megan Roup, Evelynn Escobar, and Danielle Burnett. The campaign will roll out across digital platforms and through community events this summer and fall. RD
Victoria’s Secret’s Pink is teaming up with LoveShackFancy for a limited-edition collection aimed at Gen Z. Launching next week online and in select stores, the line includes lounge sets, dresses, and accessories priced from $19.95 to $199.95 and offered in sizes XXS to XXL. To promote the drop, the brands will host a NYC pop-up and feature Gen Z influencers like Coco Samone and Shannon Zhao in the campaign. RD
↪️Rebrands & Relaunches↩️
Anthropologie has elevated its popular private label Maeve into a stand-alone brand, complete with dedicated social media, marketing campaigns, and its own stores—starting with a retail concept opening this October in Raleigh, North Carolina. RD
🔻Closures, Bankruptcies & Downsizes🔻
At Home is accelerating its store closures, adding six more locations to the 26 already announced after filing for bankruptcy in June. Hilco Consumer-Retail, managing the sales, said the closures span states like Illinois and New Jersey, with discounts up to 30% until all items are sold. RD
Youthforia is shutting down just over a year after facing backlash on social media due to a controversy surrounding its foundation shade range, marking the end of the indie makeup brand’s journey. BI
Claire’s has filed for Chapter 11 bankruptcy again, with plans to close 18 U.S. stores and potentially sell some or all of its assets. Despite stores remaining open for now, the retailer faces over $1 billion in debt and continued struggles from economic headwinds and its previous 2018 restructuring. RD
Utz Brands will close its Grand Rapids, Michigan manufacturing plant as part of efforts to streamline operations and improve its supply chain. The closure, which affects around 75 employees, will halt manufacturing on January 30 and warehouse operations on May 26. The chip and pretzel maker is consolidating production and will continue making affected products at its remaining seven facilities. FD
🛒eCommerce, Retail Tech, Supply Chain🛒
💰Fundraises💰
Consumer insights platform [cafeteria], which helps Gen Z and Gen Alpha earn money for sharing private brand feedback, has raised $3M in a new round at a $22M valuation. Backed by investors like Marquee Ventures and Listen Ventures, the platform plans to expand its AI capabilities and data infrastructure. CB
EVeez, an electric mobility-as-a-service startup based in Gurugram, has raised $5.4 million in a Series A round led by the Michael & Susan Dell Foundation. Other investors include Caret Capital, Ev2 Ventures, and Ah Ventures Fund. EI
💻Consumer Software💻
Uzbekistan’s first unicorn, Uzum, has raised $65.5 million in a new equity round co-led by Tencent and VR Capital, boosting its valuation to $1.5 billion. The Tashkent-based startup saw a nearly 30% jump from its previous $1.16 billion valuation and also received backing from U.S.-based FinSight Ventures. TC
Bengaluru-based edtech startup Arivihan has raised $4.17 million in a pre-Series A round led by Prosus and Accel, with GSF Investors also participating. The funds will boost Arivihan’s AI capabilities, expand language offerings, and grow its presence in three more Indian states, with a focus on helping Class 12 students in tier II and III cities prepare for state boards, CBSE, and NEET exams. EI
Funds Raising Funds
Canada is investing $1.9 million through its Ocean Supercluster to scale the production of plant-based whitefish—the country’s first official push to commercialize a homegrown alternative to conventional whitefish. The project is led by Halifax-based Profillet, with support from Ardra Inc., Mara Renewables, and RONDO North America. VG
Mars, the maker of Snickers, M&M’s, and Ben’s Original, announced a $2 billion investment in U.S. manufacturing through 2026. The move aims to expand production and fuel product innovation. This follows a $6 billion investment over the past five years, with the company emphasizing that 94% of the products it sells in the U.S. are already made locally. FD
Thanks for reading!