The Consumer VC Roundup #94
The Latest News & Monthly Events For the Emerging Consumer Ecosystem
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This Week In Consumer
💰Fundraises💰
OneSkin, a brand focused on longevity skincare, has raised $7 million in Series A funding from investors including Selva Ventures, Unilever Ventures, and Camila Alves McConaughey. This funding aims to support OneSkin's growth as competition intensifies in the longevity skincare market. BeautyIndependent
Shiru, the AI-enabled protein discovery company, has raised $16 million in a Series B funding round led by S2G Ventures, with participation from CPT Capital, Lux Capital, Nourish Ventures, and Meach Cove Capital. The round brings Shiru’s total funding to $36 million. Vegconomist
Divi Scalp & Hair Health, founded by influencer Dani Austin in 2021, has secured a minority investment from venture capital firm Norwest. The clean, science-backed brand is focused on expanding internationally and scaling domestically in key metro areas. BeautyPackaging
💸M&A💸
Campbell Soup is selling its Noosa yogurt brand to Lakeview Farms, a fresh foods manufacturer. Campbell acquired Noosa through its $2.7 billion Sovos Brands purchase but considered it non-core to its business. The deal is set to close in early 2025, with Noosa’s recent annual sales reported at $177 million. FoodDive
General Mills is acquiring Whitebridge Pet Brands' U.S. cat feed and treats business for $1.45 billion, strengthening its position in the pet food market. The acquisition adds premium pet brands with $325 million in U.S. sales over the past year. FoodDive
Hershey has acquired the sour candy brand Sour Strips, founded by influencer Maxx Chewning in 2019. Expanding Hershey's sweets portfolio, Sour Strips targets young consumers and is available at major retailers like Walmart, Amazon, and Target. FoodDive
UK-based CDS Superstores, owner of The Range and Wilko, has acquired the Homebase brand, intellectual property, and up to 70 UK stores after the DIY retailer entered administration. Financial advisors from Teneo were appointed as administrators. Homebase will keep trading online, and acquired stores will operate as Homebase for now but will transition to The Range stores, expanding offerings across garden, showroom, and DIY categories. RetailGazette
Tapestry has called off its $8.5 billion merger with Capri Holdings, the owner of Michael Kors, after the US Federal Trade Commission successfully blocked the deal in court. Tapestry, which owns Coach, plans to buy back stock, while Capri outlined a turnaround strategy that includes closing some Michael Kors stores. BoF
Wonder Group, the "fast fine dining" startup founded by Marc Lore, is acquiring Grubhub from Just Eat Takeaway.com for $650 million, comprising $500 million in senior notes and $150 million in cash. The deal is expected to close in Q1 2025, pending regulatory approvals. RetailTouchPoints
🚀Debuts, Distribution & Expansion🚀
Dippin' Dots is entering grocery stores for the first time, launching ice cream sundaes in the freezer section. Previously available mostly in venues like amusement parks, this expansion will allow the brand to reach consumers at home through thousands of new distribution points. FoodDive
Hanni, a body care brand focused on simplifying routines for busy millennials, is now available in all Sephora locations across the U.S. Known for innovative products like its dry-shaving gel stick and fast-absorbing spray-on moisturizer, Hanni first joined Sephora in 2021 and quickly expanded to 250 stores the following year. BeautyIndependent
Formula Fig is set to introduce a new product line in the professional beauty channel, incorporating biotech-derived active ingredients from Debut, a L’Oréal-backed startup. This marks Formula Fig’s first venture into using biotechnology-powered ingredients in its offerings. BeautyIndependent
Claire’s has launched "C by Claire’s," a fragrance and body care line tailored for Gen Zalpha, featuring scents like Cherry Bliss, Cloudberry Fizz, Watermelon Kiss, and Salted Caramel, tapping into the popular gourmand trend. The collection includes a new signature scent, "Be The Most," with notes of pistachio, vanilla musk, sandalwood, and Italian citrus. GCIMagazine
Tosla Nutricosmetics has introduced Lumina365, an ingestible sun protection product backed by clinical evidence showing it improves skin’s response to sun exposure. After eight weeks, the product reduced skin redness by 46.2% 24 hours after UVB exposure and increased the minimal erythema dose by 23.8%. GCIMagazine
Albéa Cosmetics & Fragrance has launched the North America collection, offering sustainable packaging options for lipsticks, mascaras, jars, and more. The collection includes 10 stylish and eco-friendly packaging solutions tailored for beauty brands in the North American market. GCIMagazine
Adidas Fragrances, part of the Coty portfolio, has launched the Vibes Eau de Parfum Collection, featuring six unisex "mood-boosting" fragrances. The collection comes in sustainable packaging, including a 100% FSC paper box and a 25% recycled glass bottle. Each fragrance has a vegan formula, utilizing up to 25% upcycled ethanol derived from CO2 emissions. BeautyPackaging
Wahl Professional has launched its product portfolio in the U.S. Amazon Premium Beauty Store, making its professional barbering and styling products available to barbers, stylists, and consumers. BeautyPackaging
Italian furniture brand Porro has made its U.S. debut with the opening of a showroom in New York City's NoMad design district. The family-run company, known for its sleek yet quirky designs, partnered with West I Out East, a multibrand design hub with locations in NYC, the Hamptons, Westport, Conn., and Miami. WWD
Elie Saab Maison is expanding into home decor with a second season of its collaboration with Italian design firm Giobagnara. The collection, which debuted at Maison&Objet in September, includes luxury home accessories and marks a significant step for the brand as it broadens its offerings to include high-end gift items, complementing its existing luxury residences in cities like Riyadh and London. WWD
CVS and 7-Eleven are expanding their retail media offerings with in-store audio. CVS has partnered with The Trade Desk and Vibenomics to create a self-service programmatic audio offering. Meanwhile, 7-Eleven is broadening its partnership with Qsic, aiming to bring audio advertising to all 12,000 U.S. stores by the end of 2025. RetailTouchPoints
Nuuly, the clothing rental platform owned by Urban Outfitters, is launching a new Thrift Shop where customers can buy final-sale, as-is styles from brands like Maeve and Pilcro. Available to current subscribers on Nuuly.com, the service allows members to purchase up to five items at a time. This follows the closure of a previous version of the platform. ModernRetail
Meta has launched the Meta Lab, an experiential pop-up shop in Los Angeles showcasing its Ray-Ban smart glasses. Initially introduced at Meta’s Connect conference, the store on Melrose Avenue is open to the public through December 31, 2024. RetailTouchPoints
🪇Collabs🪇
Nourish Ingredients is partnering with China's Cabio Biotech to bring Tastilux, its plant-based meat flavoring ingredient, to the Chinese market. This cross-continental collaboration will leverage Cabio’s manufacturing and distribution in China, while Nourish leads global sales efforts. FoodDive
Dr. Squatch has introduced two limited-edition collaborations: the Dirt Murderer soap with Liquid Death and the Ninny Scrubbins soap with Elf. Both collaborations include unique branding, with the Liquid Death soap paired with a horror-themed ad, and the Elf soap celebrating the holidays. BeautyPackaging
Office Depot has partnered with Grubhub to offer on-demand delivery of over 6,000 office supply items from 800+ stores across 42 states. Now part of the Grubhub+ loyalty program, the collaboration benefits corporate clients seeking same-day delivery for workplace essentials. RetailTouchPoints
↪️Rebrands & Relaunches↩️
Julep has relaunched after a five-year hiatus, aligning with the clean beauty trend, and introduced a new 21-free Gel Nail Polish Collection. The brand's new clean nail lacquer formula is designed to provide a quick air-drying, salon-quality, long-lasting shine, while being free of toxic or controversial ingredients. BeautyPackaging
💻Consumer Software💻
💰Fundraises💰
Homethrive, a leader in technology-enabled caregiving solutions, has raised over $20 million in its latest funding round, led by TELUS Global Ventures and 7Wire Ventures, with support from several other investors. PRNewswire
Achieve, a leader in digital personal finance, closed a $186.4 million AAA-rated securitization, backed by 13,299 unsecured consumer loans. Jointly sponsored by Achieve and Nelnet, this marks Achieve's 11th securitization to receive a AAA rating from DBRS and the 13th from Kroll Bond Rating Agency (KBRA). PRNewswire
Zeplyn, the AI assistant for financial advisors, today announced a $3M seed funding round. Led by Leo Capital, with additional investing from Converge and angel investors, the funding will be used to support the company as it rebuilds wealth management from an AI-native perspective. PRNewswire