The Consumer VC Roundup #96
The Latest News For the Emerging Consumer Ecosystem
This issue is brought to you by Propeller Industries.
Propeller Industries is the leading strategic finance and accounting partner for venture-stage companies. Thinking about profitability, extending your runway, and improving efficiency in your operations? Propeller’s fractional model offers a dynamic solution that provides a cost-effective alternative to hiring full-time finance talent.
This Week In Consumer
🧃Consumer Brands👚
💰Fundraises💰
Oishii has raised an additional $16 million, bringing its total funding to $150 million. The vertical farming company is expanding into Chicago and preparing to open its first international facility in Tokyo. The latest round was led by climate tech fund Resilience Reserve and Japanese venture firm Miyako Capital. FoodDive
Cradle, an AI-driven biotech company focused on protein engineering for planetary health, has raised $73 million in a Series B funding round led by IVP, with support from Index Ventures and Kindred Capital. Founded in 2021 by ex-Googlers Stef van Grieken and Daniel Danciu, Cradle operates in Amsterdam and Zurich with a team of experts from companies like Novartis, DeepMind, and Uber, bringing its total funding to over $100 million. Vegconomist
💸M&A💸
JD Sports has acquired Groupe Courir for $548 million, adding 323 European stores, including the Naked women's sneaker concept. The deal requires selling select stores to Snipes. RetailTouchPoints
Supreme plc is in advanced discussions to acquire 120-year-old Typhoo Tea, currently under administration overseen by Kroll. JustDrinks
Tŷ Nant has acquired Fonthill Water and Decantae Mineral Water from Primo Water, aiming to strengthen its position as a leading premium water brand in the UK. This deal broadens Tŷ Nant's product range and footprint, adding Decantae’s Snowdonia-sourced water and new packaging options for travel and healthcare sectors. Financial terms were not disclosed. JustDrinks
PepsiCo is acquiring full ownership of Sabra and Obela from Strauss Group for $244 million. This move strengthens PepsiCo's better-for-you portfolio, providing control over innovation, production, and marketing. Sabra alone generates nearly $400 million in U.S. retail sales. FoodDive
Nykaa has acquired Earth Rhythm, an Indian skincare, cosmetics, and personal care brand, two years after making a minority investment in it. This acquisition strengthens Nykaa's position in the beauty market and expands its portfolio of homegrown brands. BOF
Represent, the British menswear brand, has sold a minority stake to private-equity firm True. The investment follows the brand's strong sales growth, with the opening of flagship stores in Los Angeles and Manchester, and expectations to reach £100 million in annual sales by the end of 2024. BOF
FountainVest Partners and Unison Capital have acquired Japanese jeweler Tasaki & Co. from MBK Partners for approximately ¥100 billion ($660 million). The private equity firms plan to grow the brand and later pursue a listing or sale. This deal marks FountainVest’s first investment in Japan. MBK Partners had taken Tasaki private in 2017. FashionNetwork
🚀Debuts, Distribution & Expansion🚀
Mango aims to have 42 U.S. stores by the end of 2024 and over 65 by 2025, focusing on the Sun Belt and Northeast. Mango plans 500 more global stores by 2026. RetailTouchPoints
Former Apple designers Darcy Moore and Diogo Soares launched Belnu, a fragrance brand focused on ingredient transparency. After Moore's health scare, which led her to prioritize ingredient awareness, she realized the lack of transparency in fragrance products, prompting her to create Belnu. The brand offers two perfumes, Rose Steady and Bergamot Brio, both priced at $170 for a 1.6 oz. bottle. BeautyIndependent
Asics, the Japanese footwear brand, has launched the Neocurve sneaker, focusing on sustainability by using materials from recycled footwear, deadstock, and defective shoes. Designed and crafted at Studio Hagel in Amsterdam, the sneaker aims to reduce CO2 emissions. Asics partnered with Fast Feet Grinded, a Dutch footwear recycling company, to disassemble discarded shoes and repurpose the materials, marking a significant step in the brand’s commitment to eco-friendly practices. The Neocurve is exclusive to Europe. WWD
The Or Foundation has launched an upcycled collection on Vestiaire Collective, featuring items from 12 Ghanaian indie designers. The collection includes handbags, pants, jackets, and sweatshirts, all crafted from clothing and materials sourced from Accra's Kantamanto Market, the world's largest secondhand clothing market. This initiative, aimed at raising awareness about clothing waste, coincides with Black Friday and highlights the environmental impact of discarded fashion. WWD
Khloé Kardashian has launched her debut fragrance, XO Khloé, in partnership with Luxe Brands. Inspired by her positive spirit, the floral scent features notes of crystallized rose petals, praline, musks, and soft woods, housed in a luxurious, modern bottle. Created with renowned perfumers Alberto Morillas and Clément Gavarry, XO Khloé will preview at Harrods in the UK and launch exclusively at Ulta in the U.S. BeautyPackagimg
🪇Collabs🪇
Walmart and NBCUniversal are launching shoppable TV features during Thanksgiving’s live sports coverage. Viewers can shop Walmart deals via on-screen QR codes and text-to-shop options, while advertisers benefit from enhanced sales attribution through Walmart Connect. The debut includes a two-minute showcase of Walmart's holiday deals. RetailTouchPoints
Delta Air Lines is teaming up with Shake Shack to serve its iconic cheeseburgers on select flights. Starting December 1, first-class passengers on flights over 900 miles departing from Boston can pre-select a Shake Shack burger as their meal option. The offering will expand to other U.S. markets in 2025. FoodBusinessNews
Aroma360 has teamed up with (RED) to launch a luxury scent collection supporting life-saving healthcare programs in underserved communities. The (AROMA360) RED Collection includes iconic products like the Red Wireless Pro Scent Diffuser and a fragrance featuring notes of grapefruit, bergamot, jasmine, and cashmere amber. Available in formats such as parfum, fragrance oils, and candles, the collection channels proceeds toward (RED)’s mission to fight AIDS and support global health initiatives. BeautyPackaging
🔻Closures🔻
Qurate Retail Group, the parent company of QVC and HSN, is shutting down Sune, its livestreaming app aimed at Gen Z consumers. Launched a year and a half ago, Sune will cease operations, with customers able to make purchases until December 2 and finalize orders or returns by December 31. Moving forward, Qurate is refocusing on its core business of TV retail and expanding into live social shopping as part of a broader growth strategy. BeautyIndependent
Rich Products Corp. will permanently close its pizza manufacturing plant in Fountain Inn, SC, between January 31 and February 28, 2025, as part of a production optimization strategy. The closure will affect 184 employees. The plant produces some of Rich's pizza products. The company issued a Worker Adjustment and Retraining Notification (WARN) to inform workers about the shutdown. FoodBusinessNews
📰 Consumer News📰
President-elect Donald Trump announced plans to impose a 25% tariff on imports from Canada and Mexico and an additional 10% tariff on goods from China via executive order on his first day in office. FoodDive
Ferrero is investing $340,000 to boost U.S. hazelnut production, awarding $180,000 to Oregon State University and $160,000 to Rutgers University. The grants will support collaboration with local farmers and promote industry sustainability. FoodDive
Nestlé plans to cut $2.8 billion in costs by 2027, reinvesting the savings into other areas. The company will separate its waters and premium beverages business into a standalone unit in 2025, focusing on brands like Perrier and Sanpellegrino. Despite challenges like reduced consumer spending, Nestlé aims to grow sales through increased marketing and strategic adjustments under new CEO Laurent Freixe. FoodDive
Ben & Jerry’s, the ice cream maker, is suing its parent company Unilever, accusing it of stifling its attempts to advocate for Palestinians and support a ceasefire in Gaza. The lawsuit alleges that Unilever threatened to dismantle Ben & Jerry’s independent board and take legal action against board members if they issued a statement calling for peace. Unilever denies the claims, stating it will strongly defend its position. FoodDive
Unilever is investing $104 million (€100 million) to establish in-house, digitally enabled fragrance design and creation capabilities across its global portfolio. This initiative includes recruiting expert perfumers from the U.S., UK, and India, aiming to scale Unilever’s fragrance innovation and enhance its product offerings worldwide. BeautyPackaging
💻Consumer Software💻
💰Fundraises💰
Pathway, a startup developing real-time generative AI systems dubbed "Live AI," has secured $10 million in a seed funding round led by TQ Ventures, with contributions from Kadmos, Innovo, Market One Capital, Id4, and notable angel investors, including Lukasz Kaiser, a co-author of Transformers and a key OpenAI researcher. TechCrunch
Zomato, the Indian multinational restaurant aggregator and food delivery company, has raised $1 billion from institutional investors through a qualified institutional placement, marking its first major funding since its 2021 IPO. The fundraise reduces Zomato's foreign ownership below 50%, classifying it as a domestic company and enabling its quick-commerce unit, Blinkit, to adopt an inventory-led model for better control over products and warehousing. TechCrunch