The Consumer VC Roundup #97
The Latest News For the Emerging Consumer Ecosystem
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This Week In Consumer
🧃Consumer Brands👚
💰Fundraises💰
Mondelēz International's venture arm, SnackFutures, joined a $4.5 million funding round for Celleste Bio, an Israeli startup specializing in cell-cultured cocoa. The funding, led by Supply Change Capital, will help Celleste scale its innovative process, which uses agtech and AI to grow natural cocoa year-round from minimal beans. FoodDive
Greek luxury lifestyle brand Zeus+Dione, has received a strategic equity investment from Halcyon Equity Partners to fuel its international expansion. Financial terms were not disclosed, but Halcyon managing partner Eleni Bathianaki described the investment as a "substantial minority" stake. WWD
Farmless, a Dutch fermentation startup, has received a €1 million grant from the European Regional Development Fund to optimize its air-based protein production process. The funds will support a First of a Kind (FOAK) facility, following a €4.8 million raise for a pilot brewery in Amsterdam. Vegconomist
Chile-based biotech startup Luyef has secured $1.25 million in grants to advance cultivated meat production. Luyef is also closing a $4 million seed round. Vegconomist
Planet A Foods raised $30M in Series B funding to scale ChoViva, a cocoa-free chocolate alternative with 80% less carbon footprint. The funds will support production and global expansion. Vegconomist
Shiseido's venture arm, LIFT, has invested $8M in Ulta Beauty's wellness brand, Apothékary, during its pre-Series A round. This investment supports Apothékary’s retail expansion, including its recent launches in 400 Sprouts locations and on Ulta Beauty’s website. GCIMagazine
💸M&A💸
SHS Drinks, known for brands like WKD and Shloer, has acquired Shandy Shack, a UK-based pioneer in mid-strength ABV beers. The deal aims to diversify SHS Drinks' portfolio and enhance Shandy Shack’s growth, with its founders staying on to lead development. JustDrinks
TreeHouse Foods has acquired Harris Tea, the private label tea business of Harris Freeman & Co., for $205 million. The deal includes manufacturing facilities in New Jersey and Georgia and will add around 300 employees to TreeHouse. FoodDive
Constellation Brands is selling its Svedka vodka brand to Sazerac as it shifts focus to premium wine and craft spirits. The deal, expected to close in the coming months, aligns with Constellation's strategy to move away from lower-priced offerings amid declining alcohol consumption. Financial terms were not disclosed. FoodDive
LVMH's venture fund has acquired a minority stake in the Norwegian luggage brand Db Bags, marking its second investment in a Scandinavian company. BOF
Private equity firm SK Capital Partners has acquired Spectra Confectionery Ltd, a Canadian manufacturer of confectionery products like sprinkles, crystals, and nonpareils. The terms of the deal were not disclosed, but Spectra’s leadership team, including John and Nikolaos Georgas, will remain in place. FoodBusinessNews
Eternis Fine Chemicals Ltd., based in Mumbai, has acquired 100% of Sharon Personal Care, based in Tel Aviv. The acquisition includes Sharon's innovation labs, manufacturing capabilities in Italy and Israel, and distribution networks in the U.S., Italy, Germany, and France. GCIMagazine
🚀Debuts, Distribution & Expansion🚀
Coty has secured the beauty license for Swarovski, adding the brand to its portfolio of licensed fragrances, which includes Hugo Boss, Tiffany, and Burberry. The first new Swarovski fragrance is set to launch in 2026. BOF
Jimmy Choo has opened a new flagship on Madison Avenue, featuring a unique retail concept with vintage furniture and artisanal lighting. Designed to reflect the brand's creativity and New York’s vibrant energy, the space showcases fine materials and its signature purple shade. The store offers the winter 2024 collection, made-to-order services, and a chance for visitors to win gifts with holiday crackers. WWD
Rodd & Gunn, the New Zealand-based menswear brand, is opening a new store at 555 Fifth Avenue on December 10. The 3,378-square-foot space will be the brand's third New York City location, following stores in Flatiron and Dumbo. The store is part of a building featuring green terraces and LEED certification. WWD
Luxury sleepwear brand Petite Plume is expanding into home and hospitality with new lifestyle collaborations. Known for its children’s pajamas, Petite Plume has branched into family sleepwear and has partnered with brands like Parachute, Minted, and Maman. These collaborations, which include home products like placemats and napkins, aim to turn the brand into a broader lifestyle entity. ModernRetail
Stockholm-based skincare brand Mantle, is planning a U.S. retail launch next year. Known for its minimalist, functional approach, the brand has secured funding and gained a presence in European retailers like Selfridges. It has raised €8 million ($8.4 million) and is expanding through e-commerce and select retail locations in Europe. BeautyIndependent
Dove is expanding into body skin care with its Dove Cream Serum Collection, offering face-grade formulations for the body. GCIMagazine
Sprinkles, famous for its cupcakes and chocolate bars, is expanding into the beauty industry as part of its goal to become a global lifestyle brand. The company plans to launch beauty products in 2025, marking its 20th anniversary. BeautyPackaging
🪇Collabs🪇
Cointreau has launched a holiday cocktail kit, Cosmos + Caviar, in collaboration with social media influencer Danielle Zaslavsky. Priced at $125, the kit includes Cointreau liqueur, vodka, mixers, and Kaluga Hybrid Royal Amber caviar from Marky’s. Aimed at Gen Z, it combines premium cocktails with opulent food to enhance holiday entertaining and boost social media appeal. FoodDive
Pantone has teamed up with Pura, a smart home fragrance company, to celebrate the 2025 Color of the Year, Mocha Mousse. This warm, rich brown hue evokes comfort and nurturing qualities. Pura will launch a limited edition diffuser and two fragrances, Mocha Moments and Mocha Suede, inspired by the color, available starting January 21, 2025. GCIMagazine
The Rolling Stones have launched their first-ever fine fragrance, RS No. 9 Eau de Parfum, in collaboration with Bravado and Nirvana Brands. BeautyPackaging
↪️Rebrands & Relaunches↩️
Lord & Taylor will relaunch as an online off-price retailer under new, undisclosed ownership. The iconic department store will now operate as a discount luxury e-commerce site, while its licensed brand name will be sold in department stores. BOF
Madeleine White is relaunching her sleepwear brand, See You Tomorrow, with a new collection of seven styles made from improved fabrics like silk and cotton at more accessible prices. The relaunch includes extended sizing, small-batch production, and a focus on sustainability and ethical manufacturing. White plans to release new products monthly and expand into ready-to-wear. WWD
🔻Closures🔻
Stoli Group USA and Kentucky Owl, producers of Stoli vodka, have filed for Chapter 11 bankruptcy in Dallas after a ransomware cyberattack earlier this year disrupted IT systems. The filing aims to address $84 million in debt amid shifting consumer preferences, with Gen Z favoring lower alcohol consumption and ready-to-drink products. The brand, with a complex geopolitical history, has faced additional challenges, including the seizure of Russian distilleries producing its vodka. FoodDive
Nike-owned virtual sneaker brand RTFKT is shutting down as the company reassesses its priorities under new CEO Elliott Hill. BOF
Macy's has sold 13 stores across seven states for $155.3 million as part of its efforts to downsize its brick-and-mortar presence. Buyers included developers, medical users, and religious institutions. The sales are part of Macy's "Bold New Future" strategy to close underperforming stores and generate funds to improve performance. CoStar
📰 Consumer News📰
Coca-Cola has adjusted its environmental targets on emissions, packaging, and water usage, stating its commitment to making a meaningful impact. The company has defended these changes amidst scrutiny. JustDrinks
Cargill, the multinational food corporation, is cutting 5% of its global workforce, about 8,000 jobs, to streamline operations following a rare profit decline. The move comes amid falling crop prices and challenges in the beef sector, as Cargill aims to adapt to changing agricultural trends and strengthen its portfolio. Annual revenue in 2024 dropped nearly 10% to $160 billion, with fewer than a third of its businesses meeting earnings targets. FoodDive
Calls for a boycott of Uniqlo in China erupted after Tadashi Yanai, CEO of its parent company Fast Retailing, stated the brand does not source cotton from Xinjiang. In response, China’s Xinjiang Cotton Association urged international brands to resume using cotton from the region, emphasizing its importance to the global textile industry. The U.S. has banned goods from Xinjiang over forced labor allegations, which China denies. BOF
Vietnam has suspended Temu's operations for failing to meet the deadline to register with authorities. This decision follows concerns raised by the ministry and local businesses about the impact of deep discounting by Chinese online platforms, as well as worries over the potential sale of counterfeit goods. BOF
💻Consumer Software💻
💰Fundraises💰
ModifyHealth, a leading, nationwide food-as-medicine platform and provider of medically tailored meals and nutritional counseling, raised $13.5 million Series C funding round led by the Dohmen Company Foundation (DCF) through its Dohmen Impact Investment Fund. PRNewswire