The Consumer VC Roundup #118
The Latest News in Emerging Consumer Brands, Tech & Commerce Enablement
Hey friends,
Happy Mother’s Day for all the moms out there! Wishing you a wonderful and relaxing weekend.
This past week, I was thrilled to take part in Austin’s first-ever Consumer Week, produced and led by Marc Nathan.
We hosted our 9th Consumer VC Live event, where I sat down with CPG legends Clayton Christopher and Brian Goldberg to talk about their new firm, Astō Consumer Partners.
If you don’t know Clayton and Brian:
Clayton co-founded Sweet Leaf Tea, Deep Eddy Vodka, and Waterloo Sparkling Water
Brian was CFO at Sweet Leaf Tea and SkinnyPop, and founded Redbud Brands
If you braved the storm and joined us that night — thank you. I hope you had as much fun as we did. And if you didn’t, the interview will be released on Consumer VC.
HUGE thanks to EisnerAmper for sponsoring the event — they power consumer founders with financial clarity and strategic insight.
More Consumer VC Live stops are coming soon — let me know where we should head next.
Before we dive into the latest news, I’d like to tell you about Highbeam.
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📰 Consumer News📰
Harrods, Marks & Spencer, and Co-op Group were hit by cyber attacks disrupting online operations. Stores remain open as investigations continue. U.K. officials call it a “wake-up call” for stronger cybersecurity. WWD
Nike, Under Armour, and 76 other companies urged President Trump to grant tariff exemptions on footwear, warning that rising import duties could cause inventory shortages and threaten thousands of U.S. jobs. RD
This comes as Walmart, Target and Home Depot met with Trump last month about tariff impact in retail
Kirkland's Home reported a 10% drop in fourth-quarter net sales, primarily due to fewer stores and a decline in e-commerce. Its net income fell 22%. The home retailer is seeking an additional $5M loan from Beyond Inc. for store expansions, including converting locations to Bed Bath & Beyond Home and Overstock stores. RD
Sen. Edward Markey introduced a bill aiming to exempt small businesses from tariffs imposed during the national emergency declared by President Trump in April 2025. The bill, co-sponsored by Senate leaders Chuck Schumer and Mazie Hirono, seeks to ease tariff burdens on small businesses. RD
German drinks group Oettinger has confirmed a cyberattack on its business, with an investigation underway into the potential for data leaks. The company stated that production has not been affected. Ransom House, a ransomware group, has claimed responsibility for the breach and reportedly holds data from the brewer. JD
Heineken is in a legal dispute with the Dutch supermarket chain Jumbo after Jumbo paused orders for a significant portion of Heineken’s product range. Heineken has taken the retailer to court over the matter. JD
Hershey is requesting a tariff exemption for cocoa from the White House, citing that duties on cocoa, which cannot be grown in the U.S., could add millions of dollars in costs. The company anticipates tariffs will cost between $15 million and $20 million in the second quarter, and up to $100 million in the third and fourth quarters, unless mitigation plans reduce the impact. FD
The U.S. Department of Labor has dropped its investigation into Scale AI’s employee classification practices. The probe, also involving Scale’s HR partners, was closed without explanation. Scale AI expressed satisfaction with the decision. TC
Walmart and Costco are turning to India to avoid high U.S. tariffs on garments from Bangladesh and China. However, in Tiruppur, India's knitwear hub, a shortage of labor is hindering the ability to meet demand, despite the opportunity for increased U.S. sourcing. FN
The U.K. is the only nation thus far to strike a trade deal since the Trump’s sweeping tariffs. The reciprocal tariff rates will come into affect July 8th (unless there’s another extension). I’m curious if India will strike a deal before July 8th given this manufacturing demand.
🧃Consumer Brands👚
💰Fundraises and Investments💰
Dick’s Sporting Goods has led a $120 million investment round in Unrivaled Sports, a company focused on creating positive sports experiences for young athletes. The investment gives Dick’s a minority stake in Unrivaled, which operates facilities across 30 states and has hosted 600,000 young athletes and 2 million family members and fans. RTP
Frerejean Frères, the Champagne house, has raised €9 million ($10.2 million) in a funding round to support its global organic growth. The maison plans to double its volumes to a maximum of 300,000 bottles in the coming years. JD
Blank Beauty raised $6.5M in Series A funding to revolutionize custom nail polish and expand into other beauty products. The company now has $12.5M in total funding, with key backing from Epson and Kirker Enterprises. Evolution VC Partners also participated, and its founder, Gregg Smith, joined the board. BI
Wonderskin raised $50M in Series A funding, led by Insight Partners, to expand beyond its viral Wonder Blading Lip Stain Masque. The brand, which has sold over 4 million units, will use the funds for product expansion, retail growth, and enhancing enterprise tools. BI
Lumineux, a brand leading the oral wellness movement, has raised $60M. Co-founded by dentist Kourosh Maddahi, the brand focuses on oral health solutions without harmful ingredients like ethanol alcohol and hydrogen peroxide, aiming to preserve the mouth's beneficial bacteria. BI
Revo Foods launched a crowdfunding campaign on FunderNation, raising €1.2 million from 60 investors. This follows strong sales performance in March, although the company acknowledges challenges in mainstream adoption of alternative proteins. V
Beyond Meat secured a $100 million senior secured debt facility with Unprocessed Foods, LLC, an affiliate of the Ahimsa Foundation. The financing will support the company’s balance sheet and long-term strategies following Q1 losses. The deal also includes warrants for Unprocessed Foods to purchase up to 12.5% of Beyond Meat’s shares V
💸M&A💸
Skechers is going private in a $9.4B deal with 3G Capital, which will pay $63 per share in cash; the company will remain under current leadership and the deal is expected to close in Q3. It’s most recent market cap on the public markets was $9.199B RD
GameStop has sold its Canadian business to entrepreneur Stephan Tetrault, who will serve as CEO. The business, now known as EB Games Canada, will relaunch with over 185 stores across the country, offering expanded product lines and a renewed focus on Canadian customers. The terms of the acquisition were not disclosed. RD
Tsingtao, the Chinese brewing giant, is set to acquire the local grain-based winemaker Jimo Yellow Wine for 665 million yuan ($92 million). The deal involves purchasing 45.45% of the equity from the international trade company Hiking Group and 54.55% from its subsidiary Lujin Group. JD
French biotechnology company Faircraft has acquired key assets from VitroLabs, including a portfolio of 30 patents, expanding its IP and tech capabilities for industrial-scale production of lab-grown leather. VitroLabs, a pioneer in the field, was backed by Kering and Leonardo DiCaprio. V
Conagra Brands is selling Chef Boyardee to Hometown Food, a private equity firm Brynwood Partners, for $600 million. The sale includes a Pennsylvania plant and Chef Boyardee’s shelf-stable products, excluding frozen skillet meals, which will remain licensed to Conagra. The deal is expected to close by late August. FD
Novvia Group has acquired Garrett Hewitt International (GHI), a New York-based supplier of plastic and glass containers for the beauty and fragrance markets. GHI’s owner, Jason Clerke, will continue to manage the business and daily operations. BP
🚀Debuts, Distribution & Expansions🚀
Le Mans Haberdashers, the first Black-owned luxury men’s retailer in NYC, served high-profile clients from its Upper West Side location, becoming a key fashion destination for Black politicians and celebrities. WWD
Italian performance brand UYN (pronounced “win”) has opened its first U.S. store on Boston’s Newbury Street. Known for plant-based, high-performance apparel, the brand aims to grow its wholesale presence and expand in the U.S. market, starting with the ski segment and a new urban active line for 2026 WWD
OpenAI has upgraded ChatGPT's shopping capabilities, now offering enhanced product recommendations, pricing, reviews, images, and buy links, plus trending searches and autocomplete—making it easier for users to shop directly through the platform. RD
Bob’s Discount Furniture plans to open 20 new stores this year, including its first in the Southeast U.S. and its first store in Vermont. The new openings, which began over President's Day weekend, will continue through the summer and fall, bringing the retailer’s total locations to 200. RTP
Primark is expanding its "Love it for Longer" clothing repair workshops to the U.S., following the success of nearly 400 workshops in Europe. As part of its Primark Cares sustainability strategy, the workshops in New York City and Washington, D.C. will teach customers basic mending and upcycling techniques, such as fixing hems and adding buttons, with no prior experience needed. RTP
MomentM, an Ayurvedic-inspired supplement brand, has launched with the mission of simplifying wellness routines. The brand offers four supplements that are formulated to work together, aiming to provide a streamlined approach to health and wellness. BI
Amoureux is a new brand founded by Jeanine Mojum, aiming to challenge the idea that products for sensitive skin have to be boring, offering solutions that are both effective and engaging. BI
Primark will enter the Middle East by 2026, opening four stores in the UAE and Kuwait with Alshaya Group. The first store will open in Kuwait in October, followed by three in Dubai in early 2024, with plans for further regional expansion. RG
Antony Morato achieved €78.2 million in revenue in 2024, a 2% increase. The brand plans new store openings in Italy, Spain, Latin America, and Egypt. It also saw significant growth in e-commerce, with a 50% rise in online sales, partly due to a new partnership with Zalando. FN
Paris Hilton has launched Parívie, a luxury skincare line developed with Alexandra Marsh. The brand features high-performance formulas powered by inPHinite Youth Technology, targeting fatigue and environmental stress. Available as a limited edition kit, the full range debuts on May 19, 2025. GCIM
Japanese cosmetics brand Decorté has launched its Sun Shelter Multi Protection Sunscreen SPF 50+ in the U.S., offering high-performance sun protection combined with skin care benefits and traditional Japanese ingredients. BP
🪇Collabs🪇
Taobao and Tmall are partnering with Xiaohongshu to integrate cross-platform shopping, enabling users to buy directly via Xiaohongshu posts. The collaboration includes joint merchant accounts, performance dashboards, and marketing support to boost ROI—especially for beauty and fashion brands. WWD
Family Dollar has partnered with Uber Eats to offer delivery from over 5,000 locations nationwide. Customers can now access on-demand or scheduled deliveries of everyday items like cleaning supplies, pantry staples, and beauty products. RTP
Chanel has partnered with Nykaa to expand its presence in India. The brand's fragrance and beauty products will be available at Nykaa Luxe stores and on its app and website, with plans to expand to over ten stores by the end of 2025. FN
Haus Labs by Lady Gaga has launched in Southeast Asia, Oceania, and Hong Kong SAR through a partnership with Sephora, offering the full range of its products in these regions. BP
Dr. Squatch and Liquid Death have expanded their partnership with a new limited-edition soap collection. The lineup includes the return of the Dirt Destroyer soap, infused with Dead Sea Salt and Liquid Death Mountain Water, along with the new Grime Reaper soap, inspired by Liquid Death’s Lemon Iced Tea, featuring a woodsy, lemony scent and a medium grit lather. BP
🔻Closures, Bankruptcies & Downsizes🔻
Rite Aid has filed for bankruptcy again, just eight months after exiting Chapter 11, and is seeking a buyer—if none emerges, it may liquidate all stores; auctions for assets are scheduled for May and June. RD
VF Corp., owner of Vans, has laid off around 400 employees as part of its ongoing turnaround strategy, with cuts affecting multiple brands and regions. This follows previous layoffs in January and November. RD
De Beers is closing its lab-grown diamond jewellery business due to declining synthetic gem values and a company restructuring. This follows an earlier decision to stop selling synthetic diamonds as jewellery, reaffirming its commitment to traditional gems. BOF
💻Consumer Software💻
💰Fundraises💰
British FinTech startup Wagestream has secured €352 million in debt financing from Citi to expand its app-based financial wellbeing services and develop its Workplace Loans product. Investors include Better Society Capital, Balderton Capital, and BlackRock, among others. EUS
DoorDash has acquired the UK-based delivery service Deliveroo for $3.9 billion, significantly expanding its global footprint. However, the deal is also accompanied by a $1.2 billion acquisition of hospitality tech company SevenRooms, indicating DoorDash’s strategic move to diversify its business beyond food delivery into hospitality services. RTP
British HealthTech startup Zeus Sleep has raised €176k from the British Design Fund to advance its product targeting snoring and sleep apnoea. The investment will help launch the consumer product soon, with a medical-grade device for obstructive sleep apnoea expected in 2026. EUS
London-based InsurTech firm Loxa (focused on innovating product protection) has raised €1.9 million in a Seed funding round, with €147k from the Angel Investment Network. The funds will help complete its tech stack, expand its technology integration with websites and EPOS systems, and strengthen its D2C upsell offerings, starting with a power tool scheme. EUS
🛒eCommerce & Retail Tech🛒
💰Fundraises💰
German startup 7Learnings, a Berlin-based provider of AI-powered retail optimization technology, has raised over €10 million in Series B funding, led by Acton Capital, with participation from High-Tech Gründerfonds. The funding will support the company's international expansion, focusing on the North American market. EUS