The Consumer VC Roundup #119
The Latest News in Emerging Consumer Brands, Tech & Commerce Enablement
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📰 Consumer News📰
Kohl’s is launching a $360 million private offering of senior secured notes due 2030 to refinance upcoming debt. The proceeds will be used to pay down its revolving credit facility, which will then be tapped to repay 4.25% notes maturing in 2025. The new notes will be secured by 11 distribution and e-commerce centers. Fitch rated the new notes “BB+” and affirmed Kohl’s overall rating at “BB-” with a negative outlook, citing ongoing operational challenges. WWD
Vince may be delisted from the NYSE after falling below the $50M threshold for market cap and stockholders’ equity. The company has 45 days to submit a plan to regain compliance. RD
QVC Group approved a 1-for-50 reverse stock split to meet Nasdaq’s $1 minimum bid price requirement and avoid delisting. The split will happen Thursday after markets close. The company moved from Nasdaq Global Select to the Capital Market in late 2024 and was first warned about delisting last June. RD
An Arkansas jury ruled Walmart must pay Zest Labs over $222 million for stealing technology that extends produce shelf life. The jury found Walmart’s misappropriation was “willful and malicious.” Walmart plans to appeal the verdict, which nearly doubles a prior payment amount. RD
The U.S. and China have agreed to reduce tariff rates for 90 days. Both countries will impose a 10% baseline duty and remove retaliatory tariffs that had pushed some rates over 100%. The U.S. will pause its 34% tariff on Chinese imports and lift additional duties that brought total rates to as high as 145%. RD
A cybercrime group linked to recent attacks on U.K. retailers Harrods, Co-op, and M&S is now targeting U.S. retail compani-es, according to Google Threat Intelligence and Mandiant. The group, tracked as UNC3944 or Scattered Spider, is using advanced social engineering tactics and has already compromised multiple U.S. targets. While not formally attributed, researchers say the attackers are employing the same techniques as those seen in the U.K. breaches. RD
🧃Consumer Brands👚
💸M&A💸
Swimwear brand Andie has acquired California-based essentials label Richer Poorer in its first acquisition, aiming to expand into a multibrand lifestyle business. Richer Poorer will continue to operate independently, maintaining its identity and product focus. The move supports Andie’s push beyond swimwear into seasonless, everyday apparel. WWD
Church & Dwight is acquiring hand sanitizer brand Touchland for $880M—$700M upfront in cash and stock, plus $180M tied to sales goals. The deal is set to close in Q2. RD BI
Hudson’s Bay Co. will sell its intellectual property, including brand labels like HBC Stripes and The Bay, to Canadian Tire Corporation for about CAD 30 million ($21.4 million). The deal, seen by CTC as “patriotic,” is expected to close this summer pending court approval. CTC has also bid on several Hudson’s Bay lease locations. RD
Danone has agreed to acquire a majority stake in Kate Farms, a plant-based nutrition shake company. The move will expand Danone’s specialized nutrition portfolio, particularly in medical and pediatric products. Kate Farms' leadership will retain a minority share, and the deal is pending regulatory approval. FD
Dick’s Sporting Goods is acquiring Foot Locker in a $2.5 billion deal, giving Dick’s its first international footprint. Expected to close in the second half of 2025, the deal allows Foot Locker shareholders to receive either $24 per share in cash or 0.1168 shares of Dick’s stock per share. Foot Locker will operate as a standalone business, maintaining its brands across 20 countries. RD RTP
Viva Wine Group is acquiring an 88.6% stake in Dutch distributor Delta Wines for approximately €57 million ($63.9 million). The move supports Viva’s goal of becoming one of Europe’s leading wine distributors. Delta Wines operates in the Netherlands, Poland, Belgium, Finland, Norway, and Czechia. JD
Chobani has acquired plant-based frozen meal brand Daily Harvest, marking its expansion into the healthy ready-to-make meals category. While terms of the deal weren’t disclosed, Chobani emphasized the shared mission between the two brands to make high-quality, real-ingredient foods more accessible. MR
Danone is expanding its Oikos brand into the $7 billion protein shake market with a new shelf-stable offering. This marks the company’s first entry into the space and aligns with its strategy to extend its yogurt brands into fast-growing categories. The Oikos Protein Shakes target on-the-go consumers seeking convenient, high-protein nutrition. FD
Verde Valle Foods has acquired A Dozen Cousins, the ready-to-eat beans, rice, and seasoning brand inspired by Creole, Caribbean, and Latin American recipes. Ibraheem Basir, the brand’s founder and CEO, will stay on as General Manager to lead its continued growth. BW
↪️Rebrands & Relaunches↩️
Kith has reopened its NoHo flagship at 337 Lafayette as a men’s-only, three-level store after a full renovation. The space now features Kith apparel, designer labels, and an expanded footwear section, with upgraded interiors and a street-facing Kith Treats window. To celebrate, Kith is launching its Summer 2025 collection with Tramell Tillman, a new New Balance 2010 shoe, and a capsule with Cigarette Racing. Founder Ronnie Fieg calls the relaunch a defining moment for the brand. WWD
🚀Debuts, Distribution & Expansions🚀
Kim Kardashian’s $4B brand Skims will open a 12,000-sq.-ft. London flagship on Regent Street in summer 2026, taking over the former Ted Baker space. It marks Skims’ first U.K. store and part of its global expansion. The 10-year lease was signed with The Crown Estate. This follows the 2023 opening of Skims' largest store in NYC. WWD
Mattress Warehouse has surpassed 500 locations following its acquisition of 176 stores from Tempur Sealy International. The deal includes 73 former Mattress Firm stores and 103 Sleep Outfitters locations, part of the divestiture required by Tempur Sealy’s $4 billion acquisition of Mattress Firm finalized earlier this year. The expansion significantly broadens Mattress Warehouse’s footprint across the eastern U.S. and Midwest and includes seven distribution centers and corporate offices in Lexington, Kentucky. RTP
Ebay has introduced a new agentic AI-powered shopping assistant to enhance customer personalization. Currently available to a limited number of U.S. users, the tool delivers real-time, hyper-personalized product recommendations by responding to shopper queries or proactively offering suggestions based on browsing behavior. The rollout will expand gradually to more users. RTP
Sleepy Tie, the TikTok-viral hair accessory brand, is now available at Ulta Beauty after initially holding off on retail. The move follows the hashtag #sleepytie surpassing 200 million views on TikTok, driven by its popular satin double scrunchie designed to preserve and extend blowouts. BI
Katini Skin launches at Sephora, expanding from its luxury roots at Neiman Marcus, Bergdorf Goodman, and Saks Fifth Avenue into the masstige skincare market through its new retail partnership. BI
Hanyul, a Korean skincare brand under Amorepacific, has launched at Sephora on May 16, 2025. Known for blending traditional Korean ingredients with modern science, Hanyul will now be available to U.S. shoppers both online and in stores. BP
Savannah James has launched Reframe Beauty, a high-performance skincare line developed in collaboration with beauty industry veteran Nick Axelrod-Welk. The brand debuts with three products—Compression Complex, Pigment Processor, and Circadian Cream—each housed in colorful, double-walled packaging that reflects modern skincare trends. BP
🪇Collabs🪇
Carrefour Global Sourcing is adopting the TradeBeyond CBX platform to enhance responsible sourcing across its global supply chain. The platform will help streamline vendor onboarding, digitize contracts, and strengthen ESG and compliance oversight in line with European sustainability laws. RTP
BRMUD, a viral Korean skincare brand, is teaming up with esports organization FlyQuest to bring K-beauty into the gaming world. The partnership will feature online content and community-driven events that merge skincare with gaming culture. BP
🔻Closures, Bankruptcies & Downsizes🔻
Plus-size fashion brand Pari Passu is shutting down on June 2 due to economic challenges and high tariffs on China-made goods. Founded eight years ago by Shanna Goldstone, the brand specialized in shape-based sportswear for women sizes 12–24, with custom pieces up to size 32. Most production was based in China, making the brand especially vulnerable to rising tariffs—up to 70% on some items. Despite a loyal customer base and retail partners like Nordstrom and Bloomingdale's, Goldstone said continuing operations was no longer feasible. WWD
Saks Global will cut 500–600 underperforming brands, executive chairman Richard Baker confirmed at the World Retail Congress. The move aligns with a broader strategy to boost profitability by focusing on “controlled brands” through joint ventures like Authentic Luxury Group. Baker aims for these owned or co-owned brands to make up 20% of sales, citing higher margins and better cash flow. Saks, which sees $9B in annual GMV, is also managing liquidity concerns as it prepares a $120M bond payment and explores capital market options. WWD
Rite Aid is selling over 1,000 pharmacies as it goes through bankruptcy for the second time. Buyers include CVS Health, Walgreens, Albertsons, Kroger, and Giant Eagle. CVS will acquire prescription files from 625 locations across 15 states and fully buy 64 stores in Idaho, Oregon, and Washington. The sales require approval from a New Jersey bankruptcy court, with a hearing set for May 21. RD
💰Corporate Investments💰
Coca-Cola Consolidated has invested $90 million in a new facility at its Columbus, Ohio site, creating 35 new jobs and bringing the total headcount there to 360. The company is the largest Coca-Cola bottler in the U.S. JD
Anheuser-Busch is investing $300 million in its U.S. manufacturing operations in 2025, focusing on technology upgrades and workforce training. The move follows a $2 billion investment over the past five years and comes amid signs of renewed alcohol consumption among younger millennials and older Gen Z consumers. The company also reported volume gains in key beer brands and growing momentum in its RTD cocktail offerings. FD
💻Consumer Software💻
💰Fundraises💰
Doji, a new startup making AI-powered virtual try-ons more fun and social, has raised $14 million in seed funding led by Thrive Capital. The app creates personalized avatars to showcase outfit ideas, aiming to make online shopping more engaging. Just days after launching on the App Store, Doji has gained early traction and plans to use the funding to enhance its AI models. TC
Sprinter Health, a startup offering at-home preventive healthcare services, has raised $55 million in a Series B round led by General Catalyst. Founded during the pandemic by former Google and Facebook employees Max Cohen and Cameron Behar, the company fills gaps left by telehealth by providing services like blood draws and diabetes screenings directly to patients’ homes. TC
Casual mobile game developer TaleMonster Games has raised $7 million in seed funding led by General Catalyst, with backing from a16z speedrun, Arcadia Gaming Partners, and Ludus Ventures. The studio, founded by veterans from Peak Games, aims to refresh the casual games space with titles that cater to today’s more skilled players. GI
AI notetaking startup Granola has raised $43 million in a Series B round led by NFDG, valuing the company at $250 million. Known for its meeting notes feature, Granola has gained traction among VCs and founders, with users increasingly relying on it for personal notes and insights. Investors include Lightspeed, Spark, and angels from companies like Shopify, Vercel, and Replit. Granola has now raised a total of $67 million. TC
Flam, a startup building AI infrastructure for interactive marketing, has raised $14 million in a Series A round led by RTP Global, with participation from Dovetail and others. Already used by over 100 global brands like Google, Samsung, and Emirates, Flam enables real-time mixed reality campaigns and interactive experiences without the need for an app. GNW
Sequen AI, a startup building the first Behavior Design Engine for enterprises, emerged from stealth after helping its first five customers generate over $162M in incremental revenue in seven months. Backed by Greycroft, Vinyl VC, and Correlation Ventures, the company offers fast, adaptive APIs for recommendations, search, and discovery. SQ
Upscale AI, founded by former execs from Google, MNTN, and Salesforce, has raised $5.5M in seed and pre-seed funding to help DTC and ecommerce brands create AI-generated, performance-driven TV ads. The startup uses generative AI and machine learning to turn existing brand assets into ready-to-air streaming ads, aiming to make TV ads as effective as Meta’s. Backers include NVP Capital, Microsoft’s M12, Eniac Ventures, SuperAngel.Fund, and Breakpoint Capital. AW
Cart.com, a commerce and logistics platform for mid-market and enterprise companies, has raised $30 million in growth financing from Trinity Capital to scale operations and strengthen its balance sheet. This follows a $60 million Series C round in June that valued the company at $1.2 billion. PT
Stash has raised $146 million in a Series H round to enhance its financial guidance platform with AI, including its new Money Coach AI, which has driven over 2.2 million user interactions and led to positive financial actions in 25% of users. The platform currently has 1.3 million paying subscribers and $4.3 billion in assets under management. PT
💸M&A💸
Acorns has acquired EarlyBird, a platform that enabled families and friends to gift investments to children along with digital memories. EarlyBird will shut down on June 23, with all customer funds returned to their linked bank accounts. The acquisition aligns with Acorns’ focus on long-term family wealth building. TC
AI startup Cohere has acquired Ottogrid, a Vancouver-based platform that provides enterprise tools to automate advanced market research. The deal was announced by Ottogrid co-founder Sully Omar, though financial details were not disclosed. TC
💰Funds Raising Funds💰
SuperAngel.Fund, an early-stage fund led by Ben Zises that invests in Consumer, PropTech & Future of Work, is raising fund 2. They are backed by Strawberry Tree Management, an institutional LP and investment advisor to the AngelList Systematic Fund-of-Funds which ranks them in the top 1% of active managers on their platform. Read more here.
💡Creator Economy💡
Hedra, the AI video generation startup behind the viral trend of talking baby podcasts, has raised $32 million in a Series A round led by Andreessen Horowitz’s Infrastructure fund. Founded in 2023, Hedra offers a web-based editing suite powered by its Character-3 model, enabling users to create AI-generated characters, style transfer across media, and produce viral video content. TC
Thanks for reading!