Hello hello!

We have some big changes coming to Express Checkout this week….we’re moving to Substack!

Okay but…what does that mean? We’ll send out a standalone email later this week, but the short of it is we want to better engage with our community of CPG and retail nerds 🤓 . While we’ve loved seeing your replies to our emails, we're ready to take the conversation to one platform—and Substack’s new feed and chat features will allow for just that.

There’s nothing needed from your end…other than to share the newsie with folks who will add great insights to the convo :) You’ll receive the next edition on Monday just as you always have!

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Dutch Bros enters CPG.

Yep, the beloved drive-thru coffee chain is teaming up with Trilliant Food & Nutrition to launch a line of RTD coffee products. And it’s genius.

Why? Because Dutch Bros is an iconic brand, and iconic brands have the benefit of a wildly loyal fan base. They’ve built a cult-like following over its 30+ years in business, now with 1,000 locations primarily in the Western US (with plans for serious expansion), and their customer base is dedicated and highly engaged.

Maybe an RTD? (Yes, this is AI)

Or maybe coffee beans??? (Also AI)

And Dutch Bros isn’t the only one playing this game. The restaurant-to-retail pipeline has been on a tear. Just last week, Popeyes launched sauces into grocery stores nationwide. Many many similar brands, including Panera, Nando’s, and of course Chik-Fil-A, have successfully launched retail-ready versions of their condiments into stores. But it’s not just fast food joints getting in on the game.

yeah. There are a lot.

But it’s not just fast food. High-end spots are getting in on the action too:

• Rao’s basically turned its legendary NYC red sauce into a billion-dollar business selling to Campbell Soup Company in a deal valued at $2.7 billion.

• Carbone has followed suit, introducing its own line of pasta sauces that has been a hit on shelves (and just came out with new flavors last month!)

• Via Carota brought its signature cocktails to the masses.

• Magnolia Bakery and Milk Bar have extended their brands into ready-to-eat desserts and mixes (Magnolia’s frozen bread pudding is to die for).

  • And Magnolia just launched an adorable dessert-themed accessory collab with Jenny Lemons last week!

• Momofuku jumped from cult-favorite restaurant to grocery staple with chili crunch and other pantry goods…and is worth tens of millions.

CPG & Consumer Goods

• One of our fave new collabs. Firehook Crackers launched two new limited edition flavors, 'Olive Oil, Lemon & Chive' and 'Sichuan Chili Crisp', in collaboration with Graza and Fly By Jing.

  • Firehook has largely flown under the radar as a growing pantry staple among an older consumer (hi, @Jenna’s parents)—and now? Firehook is strategically reaching younger consumers by teaming up with the “it girl” brands they’re already consuming. Nothing like a great collab to help us break bread (read: crackers) across generations.

• Watch out, PRIME. PLEZi Nutrition, co-founded by Michelle Obama and originally targeted at kids, launched PLEZi Hydration, a low-sugar sports drink developed with NBA star Stephen Curry.

• Return of the caffeine. Tilray is relaunching HiBall Energy drinks, first with distribution at Whole Foods Market, aiming to restore the brand's presence in US retail after acquiring the brand.

• Finally, a new pita chip! Bye bye Stacey’s. Zesty Z launched their Perfect Pita Chips (and they are perfect, IMO) at all 280 Meijer stores in the Midwest for $4.99 per bag.

  • Shoutout to my good friend Alexander on the new distribution!!

• Bring on the protein! Daily Harvest launched an Organic Pea Protein Powder with 24 grams of protein per serving and made from a single ingredient, USDA-certified organic pea protein, without additives or fillers.

eCommerce

• Sign of the times? DoorDash introduced a layaway option for its US customers, allowing them to pay for groceries and other orders in four interest-free installments or defer payments (AKA Buy Now Pay Later, AKA BNPL) in partnership with Klarna.

  • BNPL services is rising, with more consumers using these options for smaller purchases like groceries. And honestly? This is a concerning trend—contributing to a lack of impulse control and ultimately, credit issues down the line. Kyla Scanlon’s video sums it up perfectly.

• Making things less…sketchy. Wayfair launched a new "Verified" program to highlight its most-trusted products, which have been evaluated for quality and value by product specialists.

• Fewer replacements. Instacart introduced two new features to aid in real-time understanding of what’s on shelves, Store View and Second Store Check:

  • Store View utilizes AI and computer vision for real-time inventory tracking.

  • Second Store Check allows shoppers to source out-of-stock items from nearby locations.

• More DTC = More Returns. FedEx launched a new returns service called FedEx Easy Returns, which will operate at approximately 3,000 dropoff locations, including FedEx Office and Kohl's stores.

  • Why? Because returns are seriously skyrocketing (we blame TikTok shop)—reaching $890 billion this year alone.

Retail

• Remember the power of a consumer. Target experienced eight consecutive weeks of declining foot traffic since ending its DEI program, with a 5.7% drop in foot traffic for the week starting March 17.

  • In contrast, Costco, which maintained its DEI initiatives, reported a 5.2% increase in foot traffic during the same period.

• The lifestyle brand → retail store pipeline. SoulCycle is planning to open standalone retail stores for its existing apparel business, building up its apparel retail arm to 15-20% of the business. The timing has yet to be disclosed.

• Not everything is bigger in America. Meijer is set to open a new small-format neighborhood market, the Independence Market, in Clarkston, Michigan, on April 30. The 50,000-square-foot store will offer a variety of grocery items, including local products, fresh meat, a café, and more.

  • And they’re not the only retailer launching smaller-format stores. Whole Foods, CVS, Bloomingdales, IKEA, and Sprouts are all playing with new small format locations. It seems to be working too, with increased visits and better revenue per sq ft.

Funding news

• Dads everywhere, rejoice! Sunday raised $25 million in funding from S2G Investments to enhance its eco-friendly lawn care products and expand its operations across the U.S.

• Data is king. Chord Commerce, a NYC-based customer data platform for commerce, raised $5.5 million in funding led by M13, with participation from Act One Ventures and GR0 Capital.

• What a bold brand name. Lucky Energy, an Austin-based energy drink company, raised $14.2 million in Series A1 funding, bringing total funding to over $40M.

• Men’s skincare is starting to shine. Megalabs USA acquired Geologie, a skin, hair, and body care brand known for its innovative products primarily targeting a male audience.

  • Co-founders Dave Skaff and Nick Allen will step down as the company aims to expand its growth under Megalabs, which operates in over 20 countries and offers a broad portfolio of products.

• That’s a lot more than a dollar…Dollar Tree sold its struggling Family Dollar division to Brigade Capital Management and Macellum Capital Management for tad over $1 billion ($1.007 billion to be exact).

  • This decision follows a strategic review and the closure of approximately 1,000 Family Dollar locations.

• Oak barrels as collateral. Lofted Spirits secured a $50 million financing deal with InvestBev, allowing clients to use their aging barrel inventory as collateral to access capital.

  • This partnership aims to support independent brands in the American spirits industry by providing financial flexibility amid market fluctuations.

• Not fake steak, just lab steak. Aleph Farms raised $29 million in a round led by existing investors to enhance its technology for producing lower-cost whole-cut cultivated steak, with plans to raise an additional $10–15 million.

• PE firm raises more money. Falfurrias Management Partners raised $1.35 billion for its latest private equity fund, Falfurrias Capital Partners V.

  • The firm, which focuses on middle-market growth companies, has a strong track record and has raised approximately $3.6 billion since its inception.

  • Sound familiar? That’s because Falfurrias recently sold Duke's Mayo owner Sauer Brands this year.

Weekly Pickups

Nate:

Protein and, more specifically, convenient protein has been on everyone’s mind lately and these week I got to try two really good products:

• Natty Ice Cream - one of the many pretty darn good high protein ice creams on the market. Add it to the list of other tasty protein treats in my pantry!

• Miils - Sometimes I’m hungry and I really don’t want a meal so I love finding meal replacement shakes. And this one was really really good. I loved the texture of the cocoa nibs and the puffs. Nothing like a good crunch.

Jenna:

• Oca: This past week, I had the absolute pleasure of attending one of Marc Nathan’s CPG Meetups in Austin. I got to sample these delicious peanut bites inspired by a Brazilian treat called paçoca, which founder Renato deeply missed from his home country.

  • I loved the sugar-free version so much, I picked them up in my new favorite store (filled with local Austin brands and emerging CPG faves), Parker + Scott 🙂 

See ya next week!

Nate + Jenna :)

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Hello hello!

Another crazy week ahead of us! I’m currently in Las Vegas for Shoptalk Spring 2025!! I’ll be soaking up all the retail knowledge and sharing the highlights here and on my socials. 🫡

If you’re at Shoptalk too, I’d love to say hi—reply to this email to plan a meet-up!

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🚨 cool (paid) opportunity for brands 🚨

My friend helps brands integrate into and around TV shows, films, and IP through product placement, partnerships, and content—and currently is seeking brands for a unique opportunity:

In May, they’re shooting for a new fitness show on Amazon Prime (to air globally in Q4 2025 or Q1 2026) and are looking for fitness apparel companies, BFY foods, and supplement companies!

Reply here or email me nate@expresscheckout.co to get connected!

News From the Week

Remember Edible Arrangements, those chocolate-dipped fruit bouquets you likely associate with either funerals or Mother’s Day? Well, they just took a hard pivot and launched Edibles.com—a marketplace for hemp-derived THC products.

The full scoop:

• Edible Brands officially launched Edibles.com on March 20th (a month early?), starting in Texas with plans to rapidly expand to Florida, Georgia, and other Southeastern markets

• They're partnering with established cannabis brands like Cann, Wana, and 1906 to offer THC-infused drinks, gummies, and wellness products

• The company is leveraging its existing franchise system to offer same-day or next-day delivery

• A flagship brick-and-mortar store in Atlanta will serve as a prototype for future franchise locations!

The bigger THC picture:

This launch is just one more sign that THC is going fully mainstream in CPG. The floodgates are opening:

• DoorDash recently expanded to include hemp-derived THC products in select states.

• The cannabis beverage market alone is projected to hit $2.8 billion by 2025, growing at almost 18% annually.

• Major beverage players are all in—Heineken's Lagunitas already has THC-infused drinks, while Constellation Brands (Corona) has invested heavily in cannabis.

So how is this like….legal? We thought the same thing. Turns out, the 2018 Farm Bill created a clever loophole: products are legal if they contain less than 0.3% delta-9 THC by dry weight and come from hemp.

• By making edibles large enough, companies can include effective THC doses while technically staying under this threshold.

• This has created a booming gray-area market that regulators have largely left alone.

Our take? This is a smart move. Edible Brands is embracing a joke that's followed them for years ("No, not THOSE kinds of edibles"), while tapping into a market that's exploding right now. They're bringing their trusted reputation, delivery infrastructure, and retail expertise to an industry that desperately needs more legitimate players.

And let's be honest—we all kinda saw this coming when they dropped "Arrangements" from their name in 2023, right?

CPG & Consumer Goods

• Time for Ben & Jerry to take back the reins. Ben & Jerry's is suing its parent company Unilever, claiming that CEO David Stever was unlawfully fired in retaliation for the company's political activism (regarding support for Palestinian refugees).

  • The lawsuit alleges that Unilever violated a merger agreement by failing to consult with the independent board before removing Stever and has attempted to censor the company's social media activity—Unilever denies these claims.

• The lemonade stand → spiked bev pipeline. Coca Cola’s Minute Maid—the star of every 2000s lemonade stand—just launched Spiked Vodka Punch in four flavors and a Pink Lemonade variant, following the success of their wine-based cocktails released in 2023.

  • They're following in the footsteps of other popular beverage brands that have launched alcoholic versions, including Sprite, 7UP, Ocean Spray, Welch's, and SunnyD.

  • This continues Coca-Cola's expansion into alcohol through strategic partnerships—like Topo Chico Hard Seltzer and Simply Spiked (Molson Coors), Fresca Mixed (Constellation), and Jack Daniel's & Coke (Brown-Forman)—through its Red Tree Beverages subsidiary to contract with established alcohol producers rather than producing in-house.

• Bad day to be a beef stick. A voluntary recall has been issued for ~30,000 pounds of Chomps Original Beef Stick Mild due to the potential presence of…metal fragments. 😳

  • Chomps has benefitted from being perceived as a “natural” on-the-go alternative to protein bars, making it an influencer fave. But when literal metal enters the most “whole-ingredient” option, it’s worth asking: is it the food processing itself that's the problem, regardless of how "clean" the ingredient list appears?

• From the streets of NYC to your local grocery store. Zucker's Bagels is launching their first retail product, Par Baked Frozen Bagels, available in Plain, Sesame, and Everything varieties. A portion of sales will benefit The Bowery Mission to help combat hunger in NYC.

• The world needs more delis! Manischewitz is launching its first-ever "Deli on Wheels," a mobile Jewish deli that will serve classic Jewish cuisine year-round, debuting on March 27th just before Passover. The food truck will offer free samples and a menu featuring traditional favorites like matzo ball soup and all-beef hot dogs, aiming to make Jewish foods more accessible and engage a broader audience.

  • What a great way to engage with a larger audience and share the rebrand and amazing products that Manischewitz's offers! If you want to learn more about their amazing rebrand read our deep dive here!

• Pennies for a billion-dollar brand. Poppi reached a proposed settlement of $8.9 million with a class action group of consumers who claimed they were misled by the company's gut health assertions.

  • The settlement, which Poppi does not admit fault for, will provide compensation to U.S. customers who purchased the product between January 2020 and the notice date.

  • Now, Poppi (/Pepsi?) plans to shift its focus from gut health claims to promoting its soda as a lifestyle alternative.

• Influencer brands are still roaring. TikTok beauty influencer Mikayla Nogueira is launching her cosmetics brand, Point of View Beauty, on March 26, backed by Imaginary Ventures.

  • The brand will offer a five-product range focused on makeup preparation (AKA products that help your skin look flawless before applying makeup—think serums, primers, moisturizers).

• Another chain restaurant goes CPG. Popeyes launched its most popular sauces, including Blackened Ranch, Sweet Heat, and Mardi Gras Mustard into grocery stores nationwide.

  • Similar brands, including Panera, Nando’s, and of course Chick-Fil-A, have successfully launched CPG versions of their fan-fave condiments and seen great success.

• One of the cleanest celeb brands. Courteney Cox's personal care brand, Homecourt, is expanding into the laundry product market with a range of items such as laundry concentrate, linen spray, and fragrance oil, all available in signature scents.

eCommerce

• Your new personal (grocery) shopper. Instacart introduced new AI-powered tools to enhance grocery personalization by better predicting customers’ dietary needs and refining product recommendations:

  • Smart Shop tailors shopping experiences, while the new Health Tag system allows users to filter products based on specific dietary preferences.

• Capitalizing on the $32 billion creator economy. Best Buy is launching an influencer program that allows creators to build their own branded digital storefronts, like Amazon.

Retail

• Baby boom. 🍼 Target is enhancing its baby aisles by introducing new brands, including the premium baby brand Lalo.

  • This move aims to attract more Gen-Z and millennial parents, by providing a curated in-store experience and a wider selection of baby products.

• Gen AI for merchants. Walmart launched Wally, a generative AI tool for merchants, which automates data entry, analysis, and operational queries. The tool aims to enhance product performance understanding and allow merchants to focus on more strategic tasks.

• Why am I not surprised… Amazon Fresh is closing two of its locations in Thousand Oaks, California, and Manassas, Virginia.

  • This news comes as the company plans to open new stores—remaining committed to its brick-and-mortar grocery expansion.

Supply Chain

• Same-day or bust. Target and Walmart are heavily investing in supply chain technology to enhance their delivery capabilities, expanding same-day delivery options and improving inventory management. This arms race for faster and more reliable delivery has become crucial for maintaining customer loyalty in a competitive landscape.

• Canada launched a $3 million program to support domestic ingredient manufacturers and food processors in adapting to changing trade dynamics with the U.S.

  • The initiative aims to encourage the reformulation of products using Canadian-grown ingredients and offers reimbursement for eligible project costs.

Funding news

• There’s serious money in food distro tech. GrubMarket raised $50 million in a Series G funding round, achieving a valuation of over $3.5 billion as it aims to enhance its AI technology for the food distribution industry.

  • Despite economic uncertainties, GrubMarket is on track for $2.4 billion in revenue this year and is expanding its operations internationally.

• The Kardashian Empire grows. Skims acquired Skkn by Kim from Kim Kardashian and Coty, transferring both Kardashian's 80% stake and Coty's 20% stake to Skims.

  • This acquisition aims to expand Skims into beauty, skincare, and fragrance by 2026.

• Back to focusing on Bed Bath & Beyond? Beyond, Inc. (the new name of Overstock.com, owners of Bed Bath & Beyond) announced the sale of a 75% stake in its Zulily brand to Lyons Trading Company the operator of leading online off-price retailer Proozy.com, for ~$6.7 million.

• A winning week for plant-based alts:

  • New Culture, an animal-free dairy company, secured $5 million in initial demand for its precision fermentation animal-free mozzarella from pizza chefs and restaurant operators.

  • Savor introduced a novel butter alternative made using a thermochemical process that combines carbon and hydrogen.

    • With $33 million in funding, Savor aims to revolutionize the production of animal-equivalent fats at its pilot facility in Illinois.

• Nice guys secure funding first? GoodSam Foods, a regenerative food company focused on cocoa products, raised $9 million in Series A funding to expand its team and product lines while supporting smallholder and indigenous farmers.

Weekly Pickups

The incredible team at Experiment launched their latest product, Molecular Mesh. It, like all their other products, is absolutely incredible and effective. I literally use every single one of their products. Super Saturated is my favorite though, I subscribe!

@nate.rosen

Congrats @Experiment Beauty and my friend @Lisa on the launch of Molecular Mesh!!! Add to the lineup of already incredible products!

Jeni’s Ice cream is coming in hot with some seriously tasty line of spring ice creams and bars!! (All of which I tried at 9am…)

I love the Tropical Bloom, tasted like an elevated Baskin-Robbins Rainbow Sherbet!! And their churro bar, insane! These should be available very soon!!

See ya next week!

Nate + Jenna :)

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Hello hello!

It’s starting to feel like every week is an utter roller coaster of emotions in CPG and retail. For every massive win (see below: Poppi’s acquisition), there’s something equally—or more—crushing, (tariffs, mass layoffs, rescinded opportunities…). So for every founder, brand operator, or industry partner out there battling motion sickness right now, just know you’re not alone.

As you navigate this strange time, we’re here as a resource to bring you all the news you need to know—so you can step away from doom scrolling for two seconds (please, we beg of you) ((so does your therapist)) while staying informed.

That being said: We’re looking to bring on an Advisor (or a few… 👀 ) to help us continue sharing the news + insights you need to know. Check out Nate’s LinkedIn post and comment/message us if you or someone you know would be a good fit.

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News From the Week

Here we go folks…the first of the two better-for-you soda juggernauts has been scooped up.

PepsiCo is officially acquiring Poppi, the prebiotic soda superstar that went from its Shark Tank to internet darling, for a cool $1.95 billion.

PepsiCo’s pursuit of Poppi highlights its big bet on the better-for-you (BFY) beverage and snacking scene. After scrapping its own prebiotic soda, Soulboost, Pepsi’s clearly decided it’s smarter to buy proven winners than to tinker in-house. This isn’t a one-off—it’s part of a calculated spree to beef up its BFY lineup:

• Siete Foods: PepsiCo snagged this BFY snack brand offering tortillas, salsas, and cookies, for $1.2 billion—a clear play for the health-conscious snack crowd.

• Sabra Takeover: For $244 million, Pepsi bought out Strauss Group’s 50% stake in Sabra (and Obela too), locking down a hummus empire pulling in nearly $400 million a year. All reinforcing its foothold in BFY dips.

Beyond PepsiCo, the CPG sector has seen a huge wave of recent BFY acquisitions:

• Flowers Foods & Subsidiaries acquired Simple Mills for $795 million.

• Lakeview Farms acquired noosa yogurt from the Campbell Soup Company.

• Ferrero Group acquired Power Crunch, bringing BFY to the iconic sweets brand.

And this wave of acquisitions is significant for two key reasons:

• Shifting consumer preferences: Modern shoppers are moving away from traditional products toward health-conscious, sustainable options—for premium prices.

• Legacy brand evolution: Major companies like PepsiCo and Coca-Cola are using acquisitions to quickly enter trending markets…without having to innovate themselves.

It’s a wild time to watch this unfold. Even with inflation, supply chain headaches, and now tariffs, CPG giants are still opening their wallets, betting on brands they can turbocharge with their massive reach.

So what’s next? Eyes are on Olipop now—will it IPO, or get courted by another giant like Coca-Cola (who’s already testing the waters with Simply Pop)? This deal could kick off a feeding frenzy in BFY snacks and beverages.

• For CPG, it’s a clear sign: innovation’s hot, consumers want options alongside their classics, and the M&A engine’s revving up to deliver. Stay tuned—this soda saga’s just getting started.

CPG & Consumer Goods

• Cold coffee is hot. Cold coffee dominates 75% of Starbucks sales and shows no signs of cooling off:

  • Florence By Mills Coffee, founded by actress Millie Bobby Brown, launched a line of ready-to-drink (RTD) iced lattes exclusively at Walmart.

    • Why this is a smart move: With RTD coffee growing 12% annually and Gen Z driving the trend, Millie’s celebrity appeal—paired with Walmart's massive distribution—creates a powerful entry into the $8B cold coffee market.

  • Jordan's Skinny Mixes launched Skinnyccino™, its first RTD coffee beverage available in Vanilla and Caramel flavors. Each 12-ounce bottle contains 110 calories, no added sugar, and 8 grams of protein.

  • Death Wish Coffee Co. launched a new line of Fair Trade Certified™ canned lattes with as much caffeine as 1.5 cups of coffee—available in select retailers (including Walmart and Albertson’s) nationwide.

• Gluten-free, high-protein, and delicious? UNBUN Foods launched a new line of Complete Protein bread, which is gluten-free, grain-free, and contains 22 grams of protein and two net carbs per slice…and guess what? It tastes great too. I got to try it at Expo West, and it’s seriously good.

• Sustainable menstrual solutions FTW. Viv For Your V is launching its sustainable menstrual discs in nearly 500 Whole Foods Market stores, becoming the retailer's first-ever menstrual disc provider.

  • Since its inception (in founder Katie Diasti’s Boston College marketing class), the brand has focused on an education-first approach, which Diasti says played a huge role in this Whole Foods win.

• Narrowing focus. Hims & Hers Health announced the discontinuation of Apostrophe, its personalized acne treatment dermatology business it acquired in 2021 for $131 million.

• The new Tate’s? 👀 Fancypants launched its crispy cookie brand in 57 Costco stores in the Northeast with a new 14 oz bag for their Salted Caramel flavor. The company is now in over 3,000 retail locations, and has sold 6.5 million cookies since its launch in January 2024.

eCommerce

• What’s Ulta’s next move? Ulta Beauty reported a 2% decline in net sales during its first quarter, marking the first time the company lost market share in the beauty sector. CEO Kecia Steelman is implementing a turnaround plan that includes launching a marketplace (on Mirakl).

  • They’re joining other major retailer that have been launching or expanding third-party marketplaces, like Best Buy, Walmart, Target, and Sephora.

• Temu > Amazon. A recent survey showed that only 16% of U.S. consumers use Amazon Haul at least monthly, trailing behind competitors Shein (23%) and Temu (28%). Despite Amazon's strong reputation, it struggles to attract shoppers to its low-cost eCommerce platform, Amazon Haul, which launched late last year.

Retail

• The future of Wayfair is retail. The company laid off 340 employees from its tech team and plans to close its Technology Development Center in Austin—all part of a broader shift in the company’s strategy as it prioritizes its growing retail presence.

  • Wayfair initially ventured into brick-and-mortar in May 2019, and is now continuing its retail expansion the announcement of a 150,000-sq.-ft., large-format store in Atlanta, Georgia, set to open in 2026.

  • Meanwhile, Wayfair exited the German market in January 2025 after 15 years, unable to secure widespread brand recognition there. Will this new era of IRL growth make the difference for the US market?

• Damn, retail media is ripping! Ahold Delhaize is enhancing shopper engagement through new in-store advertising solutions across its grocery banners, including Food Lion and Stop & Shop. The initiative, in partnership with Inmar Intelligence, aims to integrate digital incentives with in-store ads to drive visibility and encourage purchasing decisions.

  • Retail media is a real revenue driver for grocers these days, Walmart's retail media network for example, Walmart Connect, has experienced significant growth, with its global ad revenue reaching $4.4 billion in 2024, marking a 27% year-over-year increase. It’s expected to reach a cool $6 billion+

• The prodigal son returns. Foxtrot, after closing all 35 of its locations in 2024, has begun reopening stores, starting with 10 in Chicago. Founder Mike LaVitola aims to refocus the brand on community and curation, streamlining operations and enhancing the customer experience.

• Canadian retail takes a hit. Hudson’s Bay Co., which operates department stores in Canada including Saks Fifth Avenue and Saks Off 5th stores, has filed for bankruptcy, citing the impact of Trump-era tariffs and a challenging post-pandemic retail environment.

Funding news

• Is rum the next big spirit? Next Century Spirits has acquired Blue Chair Bay Rum, founded by country star Kenny Chesney. Chesney will remain a significant owner.

• Moving beyond cleaning. Grove Collaborative has acquired 8Greens, a wellness company known for its daily greens supplements.

• A sad day for startup bevs. Diageo is pulling out from the Distill Ventures accelerator program, resulting in job losses, as it will no longer bring new brands into the initiative. Distill Ventures helped start-up brands, leading to Diageo acquiring six brands over the years.

  • It seems that this overall came as a shock to brands and the industry.

Weekly Pickups

Nate:

RSP x Hot Girl Pickles collab. Though this sounds kinda gross right off the bat, I actually loved it. Pink lemonade and pickles go surprisingly well together

If you know me personally, you know I love fruity candy and dried fruit. Like a lot. So when Pulpito asked if they could send over their fruit bites I was PUMPED. And they’re so addicting.

Jenna:

Resist Bars: I was way too excited to find the new formula of Resist at a local Austin market on my way home from a workout class! These bars—crafted for women’s hormone health—have been my go-to for years. They’re not overly sweet, pack in protein + fiber, and are actually filling.

Couldn’t wait until I was home to crack it open 🙃 

Pistakio: Though I’m embarrassingly late to the game, I finally got my hands on Pistakio, which was the daily sample at Austin’s Pop Up Grocer! And, as the kind staff member accurately prefaced, “this stuff is crack”—incredibly smooth, the perfect mix of sweet + salty, and a rich pistachio flavor.

• IMO, pistachio was a silent Expo trend. I saw so many pistachio-related products, like multiple new pistachio milks (fave was Whole Moon) and several other pistachio butter/spreads. And yes, I definitely think we have the viral Dubai chocolate trend to thank for this pistachio boom.

See ya next week!

Nate + Jenna :)

📰 Got news? Submit it here! 📰

Any other questions or inquiries you can respond to this email or DM me on Twitter or LinkedIn or TikTok

If you are enjoying my newsletter please share with anyone you think would benefit from it! 🙏

Hello hello!

Jenna and I are finally all rested up from Expo West! Our tummies are feeling a bit better (thank you Wonderbelly) and we are ready with our thoughts from the show! First a couple of housekeeping items….

Surprisingly Jenna and I got no solo photos 🤷‍♂️ - So we’ll brag about the people we met (Anouck Gotlib, Founder of Belgian Boys, and Michael Solomonov, famous chef and Zahav Foods Founder)

I’m co-hosting a webinar with the folks at Instant.one! Join Patrick Johnson (CEO of Progress Labs), Erica Tucker (Founder of Sweet Es Bakery), and myself for a fun discussion on how to optimize your customer journey by combining effective website development with email marketing strategies!

📅 Date: March 13th ⏰ Time: 12:30 PM ET / 9:30 AM PT 📍 Where: Online Don’t miss this opportunity to learn from the best and take your customer journey to the next level. 👉 Register Now

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News From the Week - Expo West Edition!!!

What a SHOW. As per usual, the energy in Anaheim did not disappoint. There’s so much we want to share, so instead of taking up precious newsie real estate, we drafted a FULL RECAP HERE :)

Quick highlights: I got to emcee the New Hope Pitch Slam with the best of the best, Asa Mckee! Thank you New Hope for having me!

• We also hosted an amazing 200-person event at Bubba Gump Shrimp - thanks to our partners Glimpse, Drivepoint, and Shopline!

• Don’t forget: We partnered with Glimpse on a giveaway of $26,000 towards your Expo West 2026 booth! Glimpse is an AI-powered platform that streamlines deductions management for CPG brands working with KeHE, UNFI, Target.

CPG & Consumer Goods

• Yes, this brand still exists. Crystal Light launched Vodka Refreshers, a low-calorie, zero-sugar RTD cocktail. They’ll only have an ABV of 3.8%, providing a lighter alternative to hard seltzers and traditional vodka sodas.

  • A data-backed innovation: 1-in-5 Crystal Light users have used the product for a cocktail mixer, so this only makes sense!

• Speaking of RTD cocktails…Lil Yachty launched a line of Tequila seltzers called Yacht Water, inspired by the Texan cocktail Ranch Water. Each variant has a 5.8% ABV and, for now, is available exclusively in select retailers in Georgia and Tennessee.

• Another hydration beverage goes nationwide. Leisure Hydration, founded by friends of the newsletter Steve and Alex Michaelsen, is now nationally distributed at Whole Foods Market after gaining popularity in tech offices.

• As DJ Khalid says, Anotha One ☝️ Bloom Nutrition is launching their own better-for-you soda called Bloom Pop with only 4g of sugar and 25 calories per can, featuring prebiotics and apple cider vinegar for gut health. Three flavors are confirmed: Shirley Temple, Raspberry Lemon, and Orange, with two additional mystery flavors on the way.

• Rough out there for plant-based meats. Meati Foods is planning mass layoffs due to a bank-induced crisis, as a lender unexpectedly removed two-thirds of its available cash, jeopardizing the company's operations. Meati is actively seeking additional funding to continue its operations.

  • CNBC also just put out a video on the downfall of Beyond Meat and the alt-meat category as a whole.

• Orange & Creme is the next big flavor. Vita Coco launched a new flavor, Orange & Creme, for its Vita Coco Treats™ line, following the success of the Strawberries & Creme flavor. This new coconutmilk-based beverage is catering to consumer demand for lighter yet indulgent options.

• No one is safe from oat milk. Diageo launched a Non-Dairy Liqueur made with oat milk, offering two flavors: Coffee Toffee and Cookies & Creamy, aimed at providing dairy-free options for coffee lovers. This product aligns with the increasing demand for plant-based alternatives, as the oat milk market is projected to grow significantly by 2030.

  • If you want a delicious start-up alternative, check out Oatrageous oat milk liqueur from the makers of Misunderstood Whiskey Co.

• Slugging behind... Futurewise, a slugging-focused skincare brand, is shutting down after facing tough competition in the market. The founders, Julie Schott and Brian Bordainick, will now focus their efforts on their other successful ventures including Starface (pimple patches on track to do $90 million in 2024 sales), Julie (emergency contraceptives), and Overdrive Defense (harm reduction).

  • The brand's remaining products are available at 60% off until March 24.

• Love a collab. Character Home, a design-focused maker of modern home goods, is teaming up with iconic tool manufacturer Dremel for a special collaboration. This partnership brings together Character's contemporary design sensibilities with Dremel's 90+ year legacy of tool innovation, resulting in a limited-edition toolbox that combines style with practicality.

• A lesson in brand naming. Cocofloss rebranded as Cocolab to better represent its expanded range of eco-conscious oral care products, including toothbrushes and toothpaste. Founded in 2015 by sisters Dr. Chrystle Cu and Catherine Cu, the brand retains "coco" in its name to honor their Filipino-Chinese-American heritage and love for coconut.

• Purple is the new black. Taro, AKA purple sweet potato, was everywhere this Expo—and it’s only fitting that ALOHA launched its limited edition plant-based Taro Bar this week, which will be sold to support Kupu, a nonprofit focused on youth education and workforce development in Hawaii.

• Beauty’s new fave two-in-one. Tower 28 launched its new GetSet Blush product—the first blush + setting powder in one—with the hilarious The Blush Lives of Sensitive Girls skit series on social, supporting the LA film industry.

eCommerce

• It’s giving….recession. A recent J.D. Power survey found that Gen Z used buy now, pay later services more than credit cards during the 2024 holiday shopping season, with 54% opting for BNPL compared to 50% for credit cards. This marks the first time BNPL has surpassed credit card usage among this demographic.

• Can’t go a week without an AI update. Google Shopping introduced new AI tools that help users find clothing and beauty products by matching their visions to real-world items. Users can describe garments or search for makeup looks, and the AI provides visual suggestions and virtual try-on options for a more immersive shopping experience.

• There’s something weird here... Uber Eats partnered with FreshDirect to offer same-day and on-demand grocery delivery in New York City, marking FreshDirect's first availability on a third-party app.

Retail

• Private label is getting serious. Target’s premiere private label brand Good & Gather is launching a new line called Good & Gather Collabs, featuring collaborations with celebrated chefs, starting with Ann Kim. This is the first-ever chef collab by Target! The collection includes four premium frozen pizzas and three restaurant-quality frozen appetizers

  • Target's private label business does more than $30 billion in revenue across 45+ brands. And according to Numerator, private label brands account for 24% of all unit sales across categories, it's serious.

• Size does matter. CVS Health plans to open small-format stores focused on pharmacy services, eliminating many retail items to better serve areas with limited prescription access.

• Entering the ‘4th wave of coffee’: Sur La Table has announced the acquisition of Seattle Coffee Gear, enhancing its specialty coffee retail offerings.

Funding news

• Love a good mezcal. Pronghorn, a spirits incubator backed by Diageo, has made an undisclosed investment in Doce Mezcal, a female-founded mezcal brand based in New York. Launched in 2022, Doce Mezcal aims to enhance its market presence through a distribution partnership with Blueprint and is focused on amplifying underrepresented brands in the spirits industry.

• Tackling tariffs. Swap, a London-based startup, raised $40 million in Series B funding to develop tools for eCommerce companies to navigate challenges in cross-border trade, particularly in light of new tariffs.

• The year of celeb-backed tequila RTDs. SipMARGS, a ready-to-drink sparkling margarita brand, is officially relaunching—now backed by a $3 million investment led by Palm Tree Crew with influencer Alix Earle as the largest single investor and brand partner.

Weekly Pickups

See Expo West deep dive 🥴 

See ya next week!

Nate + Jenna :)

📰 Got news? Submit it here! 📰

Any other questions or inquiries you can respond to this email or DM me on Twitter or LinkedIn or TikTok

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Hello hello!

Excited to see everyone at Expo West this week! Jenna and I will be walking around we might even ask you some fun questions! We’ll have our silly little mic ready for interviews!

I’m also at the show supporting Glimpse at the show, automated deductions service that automatically gets money back from KeHE and UNFI, and we’re partnering to give away $26,000 towards a booth at next years show!! Set up your 15 min intro call HERE and you'll automatically be entered to win

This week we also had a wonderful conversation with Becca Millstein the founder of Fishwife! Perfect timing too because she just launched her cookbook! Millstein shared how she transformed tinned fish from a forgotten pantry staple into a cultural movement and aesthetic experience. Read the full interview here!

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News From the Week

Almost immediately after taking office, the Trump administration implemented two key executive orders targeting diversity initiatives (Executive Orders 14151 and 14173)—and major retailers quickly followed suit.

• Target announced the end of its DEI hiring goals, stopped annual reports to external groups like the Human Rights Campaign, and terminated programs focused on minority-owned businesses.

• Walmart phased out diversity training and reportedly reduced LGBTQ+ merchandise offerings.

• Amazon and Shopify made similar moves, all claiming alignment with the new administration's directives.

And consumers are pushing back. Hard. 🙅 

• Target has seen foot traffic decline for four consecutive weeks, with a 7.9% YoY drop for the week of February 17—more than double the 3.9% decline from the previous week.

• Walmart is experiencing similar trends, with traffic down 5.2% during the same period.

• And the impact isn't limited to physical stores. During the Friday’s "Economic Blackout Day," Target's website traffic dropped 9% compared to February 14, from 5.2 million to 4.7 million visitors, and its app traffic plummeted 14%, from 4.2 million to 3.5 million.

• Meanwhile, Costco, which stood firm on its DEI commitments despite pressure from shareholders and 19 Republican attorneys general, saw its web traffic surge by 22% on the same day, jumping from 2.4 million to 2.9 million visitors.

Our take? Both brands and consumers can impart real change on the world. The beautiful thing about the dollar is how powerful it is—to corrupt, sure, but also to make change. Consumers need to understand that their dollar has weight, and their buying decisions have impact. "Vote with your dollar" is a phrase for a reason—and these early foot traffic numbers suggest it's working.

Today’s Heavy Hitter

Trump just pulled the trigger on those 25% tariffs against Mexico and Canada, starting TOMORROW.

• The S&P 500 immediately dropped 2% on the news, and Canada's already prepping $155 billion in retaliatory tariffs.

• What does this mean for brands? Expect serious supply chain disruptions and higher costs for anyone sourcing from our neighbors. CPG companies with cross-border manufacturing are scrambling to adjust pricing strategies, while retailers are bracing for inevitable price increases that'll hit consumer wallets. If you thought inflation was cooling down...think again.

  • If you’re a Canadian or Mexican brand or supply from either of these countries, reply back and let us know how we can best support you.

CPG & Consumer Goods

• So this is a weekly thing now, huh? Talking Rain Beverage Company, a sneakily large beverage maker, has launched Popwell, a new line of cold-crafted prebiotic (of course) sodas.

  • Talking Rain owns Sparkling Ice, flavored sparkling water in a tall skinny bottle, and that brand alone apparently does over $1 billion in annual sales.

• The epic downfall of fake meats. Beyond Meat is implementing substantial cost-cutting measures as it continues to operate at a loss. The company's restructuring plan includes reducing its workforce by 17% among non-production employees and completely exiting the Chinese market.

• 2025, the year of supplements. Sakara Life, the popular (and pricey) plant-based meal delivery service founded in 2011, is expanding its wellness empire with four supplement products hitting all the trendy wellness trends: a liquid multivitamin, a tart cherry sleep aid, an antioxidant tincture, and a pomegranate gummy for sugar cravings.

• Remember Mushroom coffee? Well it’s still around and growing. Four Sigmatic, a leading functional coffee brand in the US plans to launch 11 new products by summer 2025, including coffees including K-Cups, lattes, and teas infused with functional mushrooms and adaptogens.

• Olive oil fries, anyone? Graza launched a new high-heat cooking oil called Frizzle, available at select Whole Foods Market stores and online. This oil, made from 100% olives with a smoke point of up to 490°F, comes in three formats: a 750ML squeeze bottle, a 5oz spray bottle, and a 2L jug (foodservice soon??).

• Big week for Target launches:

  • Nimbi, a British sustainable women's shaving brand and #1 personal care brand at Erewhon, recently launched at over 900 Target locations with their eco-conscious design approach.

  • Scalp care brand Jupiter is launching its products at Target, featuring updated packaging and lower prices ranging from $14.99 to $17.99. The brand aims to disrupt the dandruff category and attract female shoppers experiencing scalp issues.

  • Curie, a clean personal care brand, launched its deodorants in 1,001 Target locations after debuting at Walmart.

  • Nomadica, a canned wine brand, launched its canned orange wine at Target, becoming the retailer's first orange wine offering. They'll be available at 230 locations across CA, FL, and TX.

WOOO!

eCommerce

• Shop local, made easier. eBay enhanced its shopping experience with new features that make finding local listings and fast-shipping items easier. Shoppers can now see delivery estimates directly on item cards and use a dedicated filter for fast shipping options.

Retail

• A trade show for consumers. Ulta Beauty will host an experiential beauty event, Ulta Beauty World, in San Antonio, TX, on April 26, 2025. The one-day event will feature exclusive access to top brands, live demos, and meet-and-greets with beauty creators, along with curated swag bags for attendees.

  • I love this, and think more brands and retailers should try to put on trade shows for consumers…but go even further and allow consumers to meet the people behind the brands they love.

• A strategic collab. Target is partnering with Champion to launch an exclusive collection of over 500 activewear and sporting goods items for adults and kids, set to debut in August.

• Now bring over the Chinese phones. China's Urban Revivo, often dubbed ‘Asia’s Zara,’ has opened its first US store in SoHo, New York, as part of its global expansion strategy to compete with established fast-fashion brands. Urban Revivo focuses on original design and tech-driven retail experiences, targeting a younger demographic.

• Direct to Mall. Simon Property Group, Shopify, and Leap partnered to bring digitally native brands into the physical world. This strategic alliance offers eCommerce brands a seamless pathway to establish brick-and-mortar locations.

• From DTC darling to partnering with a retail giant. Target and Warby Parker are partnering to launch "Warby Parker at Target" shop-in-shops, which will provide eyewear, including glasses, sunglasses, contacts, and eye exams.

  • Warby was part of that cohort of DTC brands that went from DTC to owning (too many) of their own locations, and now they’re partnering with a massive retailer like Target. Oh, have the tables have turned.

• Two fun grocery stores coming to Long Island, NY. The first Sprouts Farmers Market in New York is set to open in Centereach, occupying the former L.A. Fitness location. Not only that, but the first Wegmans on Long Island also opened the end of Feb. Sprouts in NYC soon??? One can hope.

Funding news

• First beverage acquisition. Core Home, a leading innovator in housewares with a portfolio of over 20 brands including BKLYN Steel Co. and Core Bamboo, acquired BUBLUV, a RTD boba tea, marking a their expansion into the food and beverage sector. Brand founder Diana Ark Chen will join Core Home to lead sales, marketing, and innovation for BUBLUV.

• Fake meat may not be working…but veggies are. Actual Veggies has raised $7 million in a Series A funding round led by Relentless Consumer Partners. The company's veggie-forward frozen burgers and fries target $20M+ revenue in 2025, focusing on visible whole food ingredients rather than meat analogs. Currently in 7,000+ stores, they maintain a lean team of just eight full-time employees.

• The next gut health darling. Supergut, a leading gut health and GLP-1 nutrition brand, secured a significant growth equity round led by Austin-based Full Frame Growth Partners, following 172% growth in 2024. CPG veteran Tracey Warner Halama (who scaled Vital Proteins through Nestlé acquisition) is joining as CEO, with plans to double retail presence to 12,000 doors in 2025 and truly own the gut-health category.

• PLTFRM acquired Presence Marketing, a leading natural products brokerage firm, ahead of the Natural Products Expo West. This acquisition positions PLTFRM as a significant player in the natural products industry, expanding its sales and marketing capabilities.

• Bone Broth is big business. Kettle & Fire, a bone broth company, secured a $43 million secondary buyout led by Colter Ventures. Colter was started by Sam McBride, former COO at RXBar and has invested in brands like Cure Hydration, Open Water, 4th & Heart, Olipop, and Mush.

• One size fits all. Shop Circle raised $60 million in a Series B funding round led by Nextalia Ventures to expand its suite of eCommerce applications, which aims to streamline various services for online merchants.

Weekly Pickups

The Fishwife Cookbook!!! It is absolutely gorgeous and full of incredible tinned fish recipes that will elevate any meal or snack sesh. They’re going on tour around the US—check to see if your city is on the list (because who can resist a tinned fish cookbook celebration?).

See ya next week!

Nate + Jenna :)

📰 Got news? Submit it here! 📰

Any other questions or inquiries you can respond to this email or DM me on Twitter or LinkedIn or TikTok

If you are enjoying my newsletter please share with anyone you think would benefit from it! 🙏

Hello hello!

This week, we had the pleasure of sitting down with JW Wiseman, Founder of Curious Elixirs—a pioneering non-alcoholic cocktail brand celebrating an impressive 10-year anniversary! Curious Elixirs is proving that being "sober curious" is more than just a passing trend. As Wiseman puts it, we're only "a quarter of the way into a 40-year revolution" in drinking culture.

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Heading to Expo West next week?

1. Don’t walk the show alone. We’re teaming up with Product & Prosper® to help you find your CPG community (or meet someone new!) among the 65,000 attendees.

   Fill out this simple form before Friday, and we’ll do our matchmaking magic 🪄 to pair you with your perfect walking group for an hour of strolling + snacking.
   

2. Join me for a happy hour on March 5th!

News From the Week

Because somehow, energy drinks are now an identity piece 🙃 - Jenna

• Can’t beat ‘em? Join ‘em. Celsius Holdings is making power moves in the energy drink space, announcing plans to acquire fast-growing competitor Alani Nu for a whopping $1.8 billion.

  • Why this makes perfect sense: While both brands share a health-conscious audience, they target different demographics. Celsius built its empire with a gender-neutral audience through fitness associations, while Alani Nu has specifically targeted women with innovative flavors and aspirational influencer marketing (think: Addison Rae, Kim Kardashian), building a social following that's 92% female.

  • While Celsius (the #3 energy brand in the US) grew volume by 38% through Q3 2024, Alani Nu (currently #5) saw volume increase by a staggering 62.7% during the same period.

  • Market consolidation continues: This isn't the first big move in the energy and wellness space recently. Nutrabolt (maker of C4 Energy) invested $90 million for a 20% stake in Bloom Nutrition, Keurig Dr Pepper acquired GHOST for approximately $1 billion (60% stake), and just last month, Safety Shot acquired Yerbaé brands.

  • As traditional energy drink leaders Monster Energy and Red Bull see their volumes declining (down 1.9% and 3.8% respectively in the first three quarters of 2024), these strategic acquisitions position newer, BFY brands to potentially reshape the energy drink landscape.

CPG & Consumer Goods

• Sparkling water? Out. Better-for-you soda? In. Spindrift, the massive flavored sparkling water brand, is jumping into the booming healthier soda market with a new line of sodas in nostalgic 90s flavors, like Orange Cream Float, Strawberry Shortcake, and Shirley Temple.🥤 

  • After being acquired by Gryphon Investors for $650M in late 2024, this is Spindrift's first major move to capitalize on their investment.

  • While the timing of this feels almost too on-the-nose (following Olipop's recent $1.85B valuation and Poppi’s Super Bowl stardom), Spindrift ~isn’t like the other girls~, entering soda with built-in trust and the distribution to match.

  • They're positioning with 20% not-from-concentrate juice, zero added sugar (or stevia), and taking direct shots at competitors with statements like "no added distractions like prebiotics that may or may not work." 👀 

• Carving a new David. In a moderately controversial change, the (equal parts successful and polarizing) David protein bar brand updated its ingredient profile to improve taste, texture, and shelf stability while maintaining the core nutrition of 28g protein, 150 calories, and 0g sugar.

  • Here’s what they did: They reduced allulose (which caused Maillard browning and hardness over time) and replaced it with maltitol, eliminating polydextrose to prevent hardening. Stevia and monk fruit were swapped for sucralose and acesulfame potassium, and natural and artificial flavors were used to create more intense, dessert-inspired flavors without increasing caloric impact.

• Coke enters the prebiotic chat. Coke is launching a new line of prebiotic sodas called Simply Pop under the Simply juice name, featuring five fruit-forward flavors made with 6 grams of prebiotic fiber and no added sugar.

• Another celeb tequila. 🙄 Look: I love Megan Thee Stallion, but launching a tequila in the year of our lord 2025 feels late…

• Gardening in a bottle. BRĒZ, a rapidly growing cannabis beverage brand has launched its latest innovation, BRĒZ Spirit, with a limited 1,000 bottles. BRĒZ launched in 2023 and has grown quickly, pushing $30M in revenue across DTC and ~2,000 stores.

  • And the trends agree: The cannabis beverage category writ large is growing significantly ($1.83 billion in 2023, projected to skyrocket to $81 billion by 2032), as consumers move away from alcohol and THC products become legalized—or at least commercialized.

  • Liquor stores now have dedicated THC sections for the onslaught of brands entering the space. Major retailers like Total Wine & More are seeing strong growth and investing heavily in the space. Distribution is expanding rapidly through new channels - DoorDash just launched THC/CBD product delivery in legal markets.

    • Brands include: Cann, Nowadays, Cantrip, Artet, Magic Cactus, Calexo, TBD, Wynk, Ayrloom, Flyers, Uncle Arnie's, Choom, Louie Louie, and Seth Rogen's Houseplant…just to name a few.

eCommerce

• Buy with Prime grows. Adidas is joining Amazon's Buy with Prime program, bringing the service to adidas.com and the adidas app. This integration will give Prime members access to fast delivery and easy returns when shopping directly on Adidas platforms. The new feature will launch in Spring 2025.

• Online to offline. Lucky has partnered with Ulta Beauty to enhance the beauty shopping experience by connecting DTC websites with Ulta's in-store inventory in real-time. This collaboration allows customers to check product availability at nearby Ulta locations, facilitating same-day pickup or delivery.

  • Lucky already partners with retailers like Sephora, Best Buy, CVS, and Nordstrom!

Retail

• Welcome to the new generation of retail. IKEA plans to open eight new format stores in 2025 in the US. Seven of these will be Plan & order points with Pick-up. The eighth location will be a Pick-up point in Santa Monica.

  • Plan & order points with Pick-up are smaller format stores where customers can plan and order home furnishing solutions like kitchens, bathrooms, and closet storage systems with IKEA staff, and pick up their purchases at their convenience.

• A sad day for the DIYers. Joann is set to close all ~800 stores nationwide after 82 years in business, following a bankruptcy filing and a sale process.

• Maybe not “forever” after all…Forever 21 is set to close at least 200 of its 350 stores as it prepares for a potential second bankruptcy, following increased competition in the fast fashion sector. The company aims to find a buyer for its remaining U.S. stores, or face liquidation if unsuccessful.

Funding news

• Plant-based is still cooking. Blackbird Foods, a New York-based producer of vegan pizzas and wings, has been acquired by Ahimsa Companies. Ahimsa has previously acquired other leading plant-based food brands Wicked Kitchen and Simulate.

• We hope it stays weird. Aura Bora, a San Francisco-based sparkling water brand, has been acquired by the New York-based private-equity firm Next in Natural for an undisclosed amount.

  • Despite its successful growth and cult-like following, the challenging fundraising environment made it difficult for Aura Bora to secure further investment, prompting the decision to sell. The company's CEO, Paul Voge, plans to remain with the brand to ensure a smooth transition into its new ownership.

• Love me some bourbon. Brother's Bond Bourbon, a Plano-based whiskey brand founded by Ian Somerhalder and Paul Wesley, has secured $7.5 million in funding to expand its presence in the U.S. and international markets.

  • Ian is also the founder of the fast growing supplement brand The Absorption Company.

• The NA bev everyone should be talking about. Constellation Brands has taken a minority stake in Hiyo, a non-alcoholic beverage brand that offers a social tonic crafted with adaptogens and botanicals. This partnership aims to expand Constellation's non-alcoholic portfolio and meet the growing consumer demand.

• Pet is booming! Oh Norman!, a pet wellness brand co-founded by Katie Hunt and Kaley Cuoco, has secured $200,000 in funding from Mars Petcare through the Leap Venture Studio & Academy accelerator program.

Weekly Pickups

Pizza soda, yeah you hear that right. Perfy (a brand I advise) sent over their newest LTO, Pepperoni Pizza. It tastes like a pizza shop smells like, it’s wild.

@nate.rosen

Yes pizza flavored soda exists and yes it tastes and smells like a soda shop Thanks for sending this over @perfy #cpg #soda #pizza

See ya next week!

Nate + Jenna :)

📰 Got news? Submit it here! 📰

Any other questions or inquiries you can respond to this email or DM me on Twitter or LinkedIn or TikTok

If you are enjoying my newsletter please share with anyone you think would benefit from it! 🙏

Hello hello!

This week, we had the pleasure of sitting down with Michael Fedele, Founder and CEO of Throne SPORT Coffee—the new coffee RTD co-created by none other than Chiefs QB, Patrick Mahomes! Though Mahomes didn’t have the best Super Bowl Sunday (to say the least…), SPORT Coffee certainly made the most of its moment in the spotlight.

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News From the Week

Let's be real: the CPG industry loves talking about how hard it is for startups to make it. And don’t get us started on beverage: brutal margins, impossible distribution, and competing against behemoths like Coke and Pepsi? Godspeed 🫡 

But this week, Olipop reminded us what’s possible. They just landed a cool $50M Series C that values them at $1.85B—sending shockwaves through this category that was supposed to be impossible to crack.

Olipop is proving that the old CPG rulebook needs an update:

• Actually make money on each can (revolutionary, we know). Olipop built its model around solid unit economics from day one. This allowed them to hit profitability in early 2024 as they crossed $400M in annual sales.

• Diversify distribution. Olipop isn’t DTC-first like every other brand. They actually started in select health stores, then expanded to conventional, and now use DTC only for what it's best at—keeping their superfans happy and testing new products through clever SMS marketing.

• Don’t reinvent the wheel. They took something familiar (soda), made it better (gut health for the win), and didn't overcomplicate it. No wild pivots, no chasing every trend—just consistent execution on a solid plan.

The craziest part? Olipop's early investors are looking at 256x returns—outperforming even OpenAI's early backers. And unlike the tech giants burning cash, Olipop is already profitable. They don't need to raise more money—they just can if they want to accelerate growth. That's the kind of flexibility most founders dream about.🥤

And yes, Poppi is a pretty impressive competitor (with a casual $40M in funding under their belt), but no, we’re not going to add any more fodder to the Poppi vending machine situation. Just watch Nate’s video 👇️ 

@nate.rosen

As someone who works in CPG the whole @Drink Poppi vending machine situation is interesting 👀 IMO….Both brands won here And here's what m... See more

CPG & Consumer Goods

• Two celeb brand launches in one week? What is this, 2024?

  • Hailee Steinfeld partnered with Premium Beers Group to launch Angel Margarita, a ready-to-drink cocktail in four flavors: Lime, Grapefruit Paloma, Ranch Water, and Wild Berry.

  • Floyd Mayweather launched a new line of nutritional supplements called 101 (One of One), developed in collaboration with Magnum Nutraceuticals.

• Big news for NA beer lovers. Athletic Brewing Company partnered with Live Nation to provide its non-alcoholic brews at over 100 concert venues and festivals across the U.S.

  • Why? Alternative distribution channels allow brands to meet potential customers in contexts where they’re already in a discovery mindset, forging stronger emotional connections. So instead of vying for attention among thousands of beverage choices in the supermarket aisle, these brands become synonymous with memorable and culturally relevant experiences

  • We’ve also seen a similar playbook with Liquid Death x Live Nation, who invested in the brand and gave them exclusive bottled water rights in 120 venues.

• Is B Corp dead? Dr. Bronner's thinks so. The major soap brand dropping its B Corp status, citing concerns over the dilution of the certification's meaning and its association with large corporations.

  • This decision reflects a growing sentiment: While B Corp certification can provide a starting point for sustainability practices, it’s increasingly seen as inadequate by companies aiming for higher standards.

• Taking “plant-based” to a whole new level. Califia Farms launched "The Green Album," a collection of daily meditations, for your plants, aimed at promoting plant growth (no, seriously).

  • For every stream on Spotify, the company will plant a tree through One Tree Planted, with a goal of 25,000 trees.

eCommerce

• Is Amazon coming for Google? Kinda. Amazon is testing a new shopping experience that directs customers to brands' own websites for products not available in its store. This feature will show up in search results alongside items sold directly by Amazon. The initiative is currently in beta for select U.S. customers and seeks to improve their shopping experience.

Retail

• Brand spies 👀 Instacart is piloting a program that allows its independent contractors to accept in-store tasks for CPG brands, like taking photos of brand displays to assess inventory levels. The program is currently running in select markets, where workers can opt in to tasks and see payment details before accepting.

• Everyone and their mother has a Substack…including the retailer The RealReal. They just launched a Gossip Girl-style Substack newsletter written by an “anonymous fan,” providing resale tips, behind-the-scenes insights, and maintain a candid voice in discussing The RealReal's offerings.

  • This initiative marks a significant move for brands on Substack (we, too, love a newsletter 🙃 ), a new way of focusing on storytelling and engaging with a community of fashion enthusiasts.

• Amazon takes on…Sephora? Amazon is opening its first beauty and personal care store, called Amazon Parafarmacia & Beauty, in Milan, Italy, as part of its brick-and-mortar expansion. The store will offer a variety of beauty products and non-prescription medications, along with services like digital skin analysis.

  • It's a continuation of Amazon's experimentation with brick-and-mortar formats, following previous ventures like Amazon Go, Amazon Fresh, and Amazon Style.

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Funding news

• Sugar is becoming a thing of the past. Oobli—the maker of sweet proteins that are 2,000-5,000x sweeter than sugar—raised $18 million in Series B1 funding and partnered with stevia supplier Ingredion to develop “sugar reduction techniques.”

  • The partnership emerged through a rapid research and development sprint, where the companies worked together to combine sweet proteins with stevia for consumer testing.

  • Check out our recent interview with Oobli CEO Ali Wing!

• Clearly I’m not the only one who loves Mezcal. Madre Mezcal closed a $3M funding round, led by No Sleep Beverage, following a previous $3M Series A in 2021.

  • The brand, known for its mezcal and additive-free tequila, reported a 14% year-over-year growth in 2024, outperforming the overall spirits industry.

• Getting the right manufacturer made easy. Keychain, an AI-powered platform for CPG manufacturing, raised an additional $5 million—bringing its total funding to $38 million.

  • The platform facilitates over $1 billion in projects monthly and is launching new capabilities focused on packaging and ingredients. This investment positions Keychain for expansion into the European market.

• Is CBD back? Sky Marketing Corp. acquired the CBD beauty and wellness brand Prima from The Hedgehog Co. for an undisclosed amount.

  • Prima had the best hand sanitizer, which was sadly discontinued!

• Jitterless coffee? Sign me up. Rarebird Inc., founders of the “first-ever jitterless coffee”—announced a strategic capital infusion of $1M through the 43North accelerator in Buffalo, NY, alongside the relocation of its corporate headquarters and plans to launch its first coffee roastery in the Buffalo region.

• The water wars never end. Tru—an enhanced sparkling beverage brand—secured $4.6 million in funding, strengthening its partnership with Polar Beverage and expand into powdered stick packs.

Weekly Pickups

cracks knuckles let’s start with the foodstuff

Loopini is a new frozen pizza brand that I was pleasantly surprised by. Not only is this a high quality (made in italy) pizza it also packs 50g of protein in a pie!!

We’ve got another Italian frozen item in my freezer this week: Ripi Foods. Frozen stuffed pasta from Ian Tecklin and Top Chef star Joe Sasto! Joe also has another delicious CPG brand called Tantos.

THC bevvies will be popping off over the next year, I’m calling it now. And I hope Choom is part of that, cause this is some tasty liquid.

I also got some fun skincare products in my medicine cabinet this week:

Daybird is a serum, moisturizer, sheer foundation, and SPF 50 rolled up into one product. And it feels great

Aaaand for another brand that also starts with “day”: DayBreak Skin, a Hypochlorous acid spray which also feels great!

See ya next week!

Nate + Jenna :)

📰 Got news? Submit it here! 📰

Any other questions or inquiries you can respond to this email or DM me on Twitter or LinkedIn or TikTok

If you are enjoying my newsletter please share with anyone you think would benefit from it! 🙏

Hello hello!

Two years ago when I first came across Oobli, I thought they were making better-for-you chocolates.

After sitting down with CEO Ali Wing, I realized I had it completely wrong. Oobli isn't aiming to be the next great CPG brand - they're a biotech company on a mission to transform how we sweeten food using proteins that are up to 5,000x sweeter than sugar!

Read our latest Checkout Chat with Ali to learn more about how Oobli is reimagining the future of sweetness!

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CPG & Consumer Goods

• Now that Dry Jan is over… the boozy news is pouring in:

  • Absolut Vodka is expanding its RTD portfolio with new bottled cocktails (Espresso Martini and Classic Cosmopolitan at 20% ABV) and Ocean Spray canned drinks (White Cran-Peach and Cran-Mango at 4.5% ABV).

    • Welcome to the RTD cocktail renaissance. Trailblazers like High Noon, Cutwater Spirits, and NUTRL have set new standards for quality and innovation, while premium offerings from Gardenista and Via Carota are elevating the category further. Even whiskey giants Jack Daniel's and Jim Beam have entered the fray, underscoring the category's broad appeal.

    • With IWSR forecasting a 6% CAGR for spirits-based RTDs in the US from 2023 to 2028, it's clear that this boom is far from over.

  • DUG Group's Cocuy Saroche has become the first Venezuelan agave spirit to enter the US market, launching initially in South Florida through Breakthru Beverage Group.

  • Diageo plans to build a $415 million manufacturing and warehousing facility in Montgomery, Alabama, creating 100 full-time jobs and expected to be operational in late 2025. The 360,000-square-foot site will produce multiple brands like Smirnoff and Don Julio.

• Narrowing their focus. The J.M. Smucker Co. is selling its Cloverhill and Big Texas brands, along with certain private label products and a Chicago manufacturing facility, to JTM Foods for ~$40 million. Smucker's is aiming to focus on growing the Hostess brand and optimizing its portfolio in the sweet baked goods category.

• New year, new me. VEGA, a plant-based protein brand, announced a rebrand (2nd in less than 5 years) featuring new formulations, performance-focused products, and packaging with a “celestial-inspired” design.

  • Reactions have been mixed…Some feel the new look leans too heavily into traditional sports nutrition tropes, losing the plant-based identity that made Vega stand out. Others see it as a smart evolution, positioning the brand alongside premium performance products rather than niche vegan alternatives.

  

  • There’s concern that longtime customers who valued the natural, approachable branding may not connect with the more “aggressive” aesthetic. Whether this shift attracts new consumers without alienating the core audience will be key to its success.

eCommerce

• Group order > Group chat. Gopuff is launching GoGroup, a new feature that allows multiple users to add items to a shared cart for delivery in as fast as 15 minutes.

Retail

• We bought a mall. Walmart purchased the Monroeville Mall near Pittsburgh for $34 million, partnering with Cypress Equities to manage and redevelop the nearly 200-acre property. While specific plans haven't been revealed, the project aims to transform the iconic mall (famous for its appearance in the "Dawn of the Dead" movie) into a mixed-use destination featuring retail, hospitality, and possible residential development.

• Time to put Martha on tour. Skechers plans to open 180-200 new company-owned stores in 2025, following strong 2024 performance with sales up 12.8% to $2.21 billion in Q4.

I guess this is what they’re up to….

@nate.rosen

What is Skechers up to??? #cpg

• Millennials everywhere are mourning. Quiksilver, Billabong, and Volcom's parent company, Liberated Brands, filed for Chapter 11 bankruptcy, leading to the closure of over 100 retail locations across the US in 2025.

• Adding “Dietician consultation” to your cart. Kroger launched OptUP Your Nutrition, a free program for Kroger Plus loyalty members that offers virtual nutrition coaching with registered dietitians.

• ALDI U.S. sold Winn-Dixie and Harveys Supermarket banners to a consortium of private investors led by Southeastern Grocers' CEO Anthony Hucker and C&S Wholesale Grocers. The transaction involves approximately 170 grocery stores across five southeastern states.

Funding news

• Who says gum is dead. Refresh Gum raised $2M in seed funding, led by Santatera Capital, to scale its plant-based, clean-label chewing gum business that has seen 290% year-over-year sales growth across retailers including Whole Foods and Wegmans.

• Facebook marketplace dupe. Sotira, an AI-powered platform that helps companies offload and monetize their surplus inventory by connecting vetted suppliers with brick-and-mortar buyers across the US, raised $2M in pre-seed funding.

  • They’re the latest startup tackling this issue. Ghost is another significant player in this space, raising substantial funding in multiple rounds: a $30 million Series B in August 2023, and a $40 million Series C in 2024 by L Catterton.

• Everist, the hair care “concentrate” brand founded by Jayme Jenkins and Jessica Stevenson, secured a new funding round led by Sandbridge Capital.

• The bros love a glow. Hakkawise, an e-commerce brand acquirer, purchased men's skincare brand Wolf Project for an undisclosed amount. Wolf Project is preparing to launch online at Target by Q2 2025 and has doubled its footprint at Nordstrom.

  • What’s going on here? The men's skincare market is experiencing remarkable growth. Recent data shows that more than half (52%) of US men now use facial skincare products, marking a significant 68% increase from 2022. This trend is particularly strong among Gen Z men, with 68% using facial skincare products.

I talked about it in a recent TikTok!

@nate.rosen

Men’s skincare is going to start really taking off this year, I think we’ll see new brands with dedicated products for men. Def check out... See more

Weekly Pickups

Congrats to my buddy Adam Simone, founder of Leaf shave, on making another freaking solid product! Leaf is an amazing sustainable razor company and they just launched a shave bowl and brush set…and it is SOLID.

I LOVE my Sodastream so having an option on-the-go is also great. Aerflo is literally that, a portable carbonation machine! And this company is going places, they raised a cool $10M in August 2024.

See ya next week!

Nate + Jenna :)

📰 Got news? Submit it here! 📰

Any other questions or inquiries you can respond to this email or DM me on Twitter or LinkedIn or TikTok

If you are enjoying my newsletter please share with anyone you think would benefit from it! 🙏

Hello hello!

Welcome to February. I don’t know about you, but that was the longest January I’ve ever experienced. We could either see this as: 1) all of 2025’s events were somehow front-loaded and the rest can only go up or 2) January was setting the tone for the rest of the year. I’m going for option 1 (for my sanity), but hit reply with your predictions. 🔮 

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News From the Week

So, it begins. The Trump administration has officially imposed new tariffs on imports from Canada and China (kicking off tomorrow), setting off what could be the biggest trade shakeup for CPG brands since the pandemic supply chain crisis. Let’s break it down →

The Global Trade War Starts…Now…Well 30 Days From Now

Here's what we're looking at: a 25% tariff on most Canadian imports (with a 10% carve-out for Canadian energy resources) and an additional 10% tariff on all Chinese imports. We’d anticipated 25% tariffs on Mexico too—but as of today, these will be paused for a month.

In response? Canada announced retaliatory tariffs on U.S. products—but here's the twist: they've also paused them for 30 days after last-minute talks between Trudeau and Trump. 🤷🏻

We're seeing aggressive retaliation plan that could seriously impact distribution and market access. For example, Nova Scotia is already blocking US products from provincial procurement and removing US products from liquor store shelves—a warning sign of what might come from other provinces.

These tariffs will force significant operational decisions across the consumer goods industry:

• Supply chain restructuring: Sourcing ingredients or materials from these markets (especially those unique to specific regions)? You're looking at an immediate 25% cost increase. Time to audit those supplier relationships and possibly diversify sourcing.

• Margin management: Brands will face tough decisions about absorbing costs vs. passing them to customers—an especially tough challenge for those operating on thin margins.

• Distribution strategy: Brands with significant cross-border business need to reassess their international market strategy and possibly adjust expansion plans.

The bottom line: This isn't just a trade dispute—it's a fundamental shift that requires immediate strategic planning. Anyone else getting flashbacks to supply chain disruptions circa 2020? 😅

The 30-day pause buys time, but we’ll see what comes of all this. Stay tuned for more updates, and if your brand is affected, hit reply—I’d love to hear how you're adapting.

CPG & Consumer Goods

• It’s rough out there. Haven’s Kitchen, known for its cooking sauces and marinades, announced it’s ceasing operations due to difficulties in achieving profitability—despite recent growth.

  • Founder Alison Cayne (who has been an incredible resource to the CPG community!) cited challenges in securing additional funding and emphasized the competitive landscape for independent brands.

  • The company had raised approximately $7.73 million in funding over the years, but struggled to maintain cash flow during a tough market environment…a market that is about to get even tougher.

  • We highly recommend checking out her podcast, and her episode with Nate!

• Taking on the $1 billion beast. This week, Rotten Candy launched new product called Gummy Cruncheez—their take on Nerds’ Gummy Clusters. Rotten focuses on healthier ingredients (but not sugar-free, which I like) while maintaining a fun and nostalgic brand.

@nate.rosen

There's a new crunchy gummy in town! 👀 Meet @Rotten Gummy Worms Gummy Cruncheez - the lower sugar alternative that's about to shake up the... See more

• Drunk Elephant better watch out. Several new teen and children's skincare companies recently launched, catering to the growing demand for age-appropriate skincare products. Brands like YAWN WORLD, Modern Family star Julie Bowen’s JB Skrub, Evereden, and even Bubble Skincare’s success speaks to the growth of the category.

  • Erly is a new skincare brand targeting Gen Z, launched by dermatologist Hallie McDonald and entrepreneur Jamie Chandlee. The brand offers vegan, fragrance-free products designed for sensitive skin.

  • And speaking of Bubble Skincare, they’re expanding into Target with 17 products, including a Target-exclusive hydration kit.

• The bev → powder pipeline. Celsius is launching a line of zero-sugar, caffeine-free, hydration powder sticks.

  • Jenna’s thoughts: At this point, Celsius is well-known as an energy bev—I wouldn’t go near something with a Celsius logo post-3 PM. I’ll be curious to see how these are received as a caffeine-free extension of Celsius’s lineup…and if Celsius can manage to make a name in the highly-competitive hydration powder game.

• More plant-based protein hits Target. With its wellness push in tow, Target is now introducing Koia’s top three plant-based protein shakes nationwide.

eCommerce

• Wait so Amazon isn’t profitable to itself and others? UPS plans to reduce its Amazon delivery volume by over 50% by the second half of 2026.

  • Despite Amazon being its largest customer, UPS stated that it is not the most profitable due to dilutive margins.

  • UPS hopes to capture volume from more profitable segments like healthcare product shippers and small- and medium-sized businesses.

Retail

• An urban garden takes NYC. Bloomingdale’s partnered with Flamingo Estate to create a pop-up market at its New York City flagship, featuring a curated selection of the brand's garden-focused products.

• Retail is going through it. Kohl’s will close 27 underperforming stores and an ecommerce fulfillment center by April 2025, representing about 2.3% of its locations, while also cutting 10% of its corporate workforce.

  • The retailer has struggled with declining sales, with Q3 2024 net sales down 8.8% year over year.

• Come on, just unlock the doors. CVS launched a new app, that basically does everything the old app does…but now allows you to unlock locked up merchandise.

Funding news

• Since everyone’s talking about eggs…Pete & Gerry’s Organics acquired Farmers Hen House to meet the growing demand for premium eggs. The acquisition adds over 90 family farms to Pete & Gerry's network.

• Moving beyond beer. Molson Coors announced a strategic partnership with Fever-Tree, acquiring an 8.5% stake in the UK-based drinks brand for $88.3 million.

  • This partnership will grant Molson Coors exclusive commercialization rights to Fever-Tree’s U.S. portfolio, including carbonated drinks and cocktail mixers, as they aim to enhance their Beyond Beer strategy.

• I recommend their Rye. Pinhook Bourbon secured $10.5 million in funding from private equity and family office investors to expand its sales and marketing efforts, while appointing John Scarborough as the new CEO.

  • John has an impressive background in the bev-alc industry as former CEO of Ranch Rider and CFO then president of Deep Eddy Vodka.

Weekly Pickups

Magic Spoon….granola? Look what can I say, it’s good granola! Great nutritional label, low sugar and high protein. What more can I ask for! And be on the lookout for our conversation with Gabi Lewis, co-founder of Magic Spoon! Checkout Chat coming soon 🤩 

See ya next week!

Nate + Jenna :)

📰 Got news? Submit it here! 📰

Any other questions or inquiries you can respond to this email or DM me on Twitter or LinkedIn or TikTok

If you are enjoying my newsletter please share with anyone you think would benefit from it! 🙏

Hello hello!

We recently had the absolute pleasure of interviewing PJ Oleksak, the powerhouse CEO of Nuts.com, and we learned a ton about what it takes to come into a decades-old company and steer it toward a successful future. For any business looking to modernize while respecting your roots…this Checkout Chat is for you.

This newsletter was brought to you by Zamp 🤑 

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News From the Week

Well, no sh*t Sherlock. This week, Walgreens’ CEO Tim Wentworth made a statement that “locking up merchandise to prevent shoplifting negatively impacts sales.” It isn't exactly groundbreaking news…but it’s good that major retailers are finally acknowledging what customers have been screaming about for months: locking up everything from Cheetos to Advil is bad for business.

Walgreens, like many other retailers, has been grappling with a significant increase in "shrink"—inventory losses due to theft and other factors. The National Retail Federation's data shows retail shrink as a $100 billion problem—which led to an overcorrection that's now coming back to bite retailers in the butt.

Wentworth didn't mince words when he said, "When you lock things up... you don't sell as many of them. We've kind of proven that pretty conclusively”. It’s cut and dry—and the numbers don’t lie:

• 27% of shoppers will switch retailers or abandon purchases when faced with locked items

• 61% of shoppers noticed an increase in locked-up products over the past year

• 62% typically wait for assistance, while 9% order online from the same retailer

So, how are retailers backtracking? With some haphazard fixes…like:

1. AI-Powered Surveillance: Major retailers like Walmart, Target, Lowe's, Kroger, etc. are investing in AI systems that can detect suspicious behavior in real-time

2. Smart Locks: CVS and Walmart are testing allowing customers to unlock locked display cases using their smartphones

3. Body Cameras: TJX has implemented body cameras for some employees,

4. RFID and Smart Tags: Lowe's implemented "Project Unlock" which uses RFID chips to make stolen power tools inoperable. Home Depot implemented similar point-of-sale activation tech.

Facing the double-edged sword of the threat of shoplifting and reduced sales when items are locked, retailers are being forced to get creative.

CPG & Consumer Goods

• Someone’s in trouble. The FTC sued PepsiCo for apparently engaging in illegal price discrimination by providing a large retail customer with unfair pricing advantages, thereby inflating prices for competing retailers. The lawsuit alleges that Pepsi's practices violate the Robinson-Patman Act.

• A blast from the past. Speaking of PepsiCo, their former soda brand, Slice, is making a comeback after being discontinued in 2010.

  • Now owned by Suja Life, the revitalized Slice is now a pre, pro, and postbiotic (whatever that is) functional drink….because of course it is.

  • The new flavors include Grapefruit Spritz, Lemon Lime, Orange, and Strawberry, with more to come later this year.

• Athletic Brewing better watch its back. Tom Holland’s NA beer, Bero is on an absolute tear! They just launched on Amazon, and as of writing this, they’re #1 in the NA beer category!

I don’t think Little Saints is really beer 😂 (As of 1/26/25)

• A plant-based comeback story. Aloha, the plant-based protein bar brand, is re-entering Target stores after being dropped seven years ago. Aloha's renewed partnership with Target reflects a strategic focus on better-for-you and wellness-focused products.

  • Some context: Aloha has had a tumultuous journey since its inception in 2013. By 2017, the company had burned through millions in venture capital and was on the brink of failure.

  • The turning point came when Brad Charron joined as CEO in late 2017, becoming what he calls the company's re-founder. He restructured the team from 70 employees to fewer than 10, closed the office, and completely overhauled the product line.

  • Between 2020 and 2023, Aloha achieved nearly 500% growth and has expanded to over 14,000 points of distribution—culminating in a $68 million investment.

  • Now? Aloha’s on track to reach $100M in sales.

• 1 MILLION brownies. Elavi is launching its high-protein, low-sugar brownies in all 82 Costco locations in the Southeast, following two successful product runs.

• Let the sauce flow. Sauz, the viral Gen Z-founded sauce brand, is launching in Whole Foods Markets and Sprouts locations nationwide, introducing two exclusive (and really delicious-sounding) flavors: Miso Garlic Marinara and Brown Butter Alfredo.

  • There are a surprising amount of fast-growing and delicious tomato sauce brands—Monte's Fine Foods, Yo Mama's Foods, Matriark Foods, Hoboken Farms, Ciao Pappy—that have been experiencing significant retail growth and fandom. Rao’s better look out.

• The end of Chubby. Chubby Snacks, a frozen sandwich maker, is shutting down after four years due to financial and legal difficulties—including a lawsuit with the champion of the space, Uncrustables (who’s nearing $1 billion in sales).

  • This is not the first time Smuckers has gone after a small brand making crustless sandwiches: In 2022 they issued a warning against Gallant Tiger for their take on a crustless PB&J.

Even if they were to continue on, there is competition from larger brands and retailers

eCommerce

• Embracing our AI overlords. Ebay, Instacart, DoorDash, and Uber are all participating in the research preview of OpenAI's new AI agent tool, Operator, which performs various online tasks autonomously. AKA, browsing the web for you as a human would.

Retail

• Dollar General hops on the private-label train. The discount behemoth is expanding its private-label offerings, introducing over 100 new products across various categories.

  • And they’re not alone: In 2024, private-label sales reached a record $271 billion, reflecting a 3.9% increase from 2023.

• I gotta make my way to a Buc-ee’s. This is insane. A 74,000 sq.-ft, $47 million Buc-ee’s is set to begin construction soon. The San Marcos, Texas travel center is part of Buc-ee's ambitious expansion plan.

Funding news

• SKKY Partners re-emerges. 111SKIN announced a minority investment from SKKY Partners—the consumer-focused private equity firm co-founded by Jay Sammons and Kim Kardashian. Founded by by world-renowned plastic and reconstructive surgeon Dr. Yannis Alexandrides in 2012, 111SKIN is known for clinically inspired skincare products.

• Buzzing for mocktails:

  • Hiyo secured $20 million in funding. The drink features adaptogens and nootropics.

  • New Orleans musician Trombone Shorty partnered with and invested in the local beverage brand Mockly, a premium canned mocktail company.

• Beauty incubator raises. Gloss Ventures raised $15 million in Series A funding to support its beauty brands, including Sacheu Beauty and Glossmetics.

• And that’s on the power of creators... ShopMy, a creator marketing platform, raised $77.5 million in Series B funding led by Bessemer Venture Partners and Bain Capital Ventures.

  • The investment will help the company expand its team and reach new verticals while enhancing its performance-driven marketing approach, which has generated over $352 million in brand sales.

  • Check out my ShopMy page here: shopmy.us/nate 😉

• Is “beanless” the future of coffee? Atomo Coffee’s $7.8M Series B raise—taking it to nearly $60M in funding to date—seems to suggest it. Watch out for this 50:50 beanless coffee blend.

• Candy brand buys protein brand. Ferrero Group acquired Power Crunch, a leading protein snack company, to enhance its portfolio in the better-for-you snack category.

  • This acquisition follows Ferrero's recent expansions in the U.S. market, opening their first-ever chocolate factory in the US this past May. Other notable acquisitions include Nonni's bakery and Wells (the owner of Blue Bunny Ice Cream).

• The ecomm tech stack expands. Rokt, an eCommerce company focused on real-time relevance, closed a new investment round at $335 million, raising its valuation to $3.5 billion. The investment was backed by firms such as Tiger Global Management and Square Peg.

• Another win for clinical skincare. American Exchange Group acquired Urban Skin Rx, a clinical skincare brand focused on diverse skin tones.

• Bad year to be a rum brand? Diageo offloaded Venezuelan rum brand Cacique to French spirits group La Martiniquaise-Bardinet, marking its second rum disposal in recent months.

Weekly Pickups

You know what boy math is? It’s putting kale sprinkles on your pizza. Edggies Veggies is one of the funnest new brands I’ve come across lately. I love the simplicity and innovative nature of the product. Plus more greens in your diet is good.

See ya next week!

Nate + Jenna :)

📰 Got news? Submit it here! 📰

Any other questions or inquiries you can respond to this email or DM me on Twitter or LinkedIn or TikTok

If you are enjoying my newsletter please share with anyone you think would benefit from it! 🙏

Hello hello!

Welcome back, TikTok. What a whirlwind of a long weekend…

Last week, Jenna and I sat down for our latest Checkout Chat with Molly Baz and David McCormick to dive into the story behind Ayoh!, a line of flavored mayos, and it’s a refreshing departure from your typical celebrity product launch.

While most influencer brands rush to market, Molly started in her kitchen with a whisk and a vision. Together with David (a CPG veteran from Whole Foods), they've created a mayo brand that's exploding across the country. Check out our deep dive to learn more about their brilliant strategy (+ get a peek into Molly’s pantry faves).

An important note: We are devastated to share that Molly’s family lost their home in the LA fires. To support her at this time, we ask that you consider signing up for or gifting a subscription to her recipe club, The Club, to allow her to continue doing what she loves amidst this tragedy.

This newsletter was brought to you by Zamp 🤑 

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News From the Week

It’s time to talk about Walmart’s rebrand. Here’s the deal: It may not look like much (read: it looks like an intern hit Command+B and called it a day), but beneath those bolded curves lies a story worth digging into.

Why? It’s the latest move in a much bigger game: Walmart's aggressive push to challenge both Amazon's digital dominance and Target's upscale appeal.

See the difference?! 🙃 

Let's talk about the Amazon battle first. While Amazon's e-commerce business raked in $61 billion last quarter (about 2x Walmart's), Walmart is growing online sales at a blistering 27% YoY compared to Amazon's mere 7%. They're playing serious catch-up, and they're doing it fast.

• The secret weapon? Walmart+. Since launching in 2020, their answer to Amazon Prime has already accumulated nearly 60 million subscribers: a third of Prime's membership in just a fraction of the time. They've also tripled their marketplace sellers from 50,000 in 2022 to over 150,000 today

But Walmart isn't just trying to be Amazon 2.0—they're simultaneously taking pages from Target's playbook to attract more affluent shoppers. The strategy appears to be working too: about 75% of their recent market share gains in food have come from households making over $100,000 annually.

You can see this upmarket evolution everywhere.

• Their stores are getting Target-style makeovers with brighter lighting, wider aisles, and better merchandising that feels more boutique than big-box.

• Their 2024 launch of "bettergoods" – their largest private brand food launch in 20 years – brings items like artisanal pistachio spread and plant-based mac and cheese that wouldn't look out of place in a Whole Foods or Target.

The brand partnerships tell the same story. They're bringing in trendy names like Poppi and Olipop, launching fashion-forward private labels like Futurewise and Current State, and securing celebrity collaborations with Drew Barrymore's Beautiful and Jake Paul's W brand. Each move is calculated to attract style-conscious customers without alienating their value-seeking base.

That's what makes this strategy so clever. They're building a hybrid retail powerhouse that can serve both budget-conscious shoppers and affluent consumers, both online and in stores.

So yeah, maybe that new logo is just a bolder version of the old one. But that's exactly the point. It's Walmart saying they're still Walmart, just a more ambitious version that's ready to compete with anyone, anywhere.

CPG & Consumer Goods

• Say goodbye to your maraschino cherries. The FDA is banning the use of Red No. 3 in food and ingested drugs. Manufacturers will have until January 15, 2027, to reformulate their products.

• 🚨NEW TRADE SHOW JUST DROPPED. The Specialty Food Association is launching a new trade show, Winter FancyFaire, debuting in San Diego in January 2026, aimed at offering innovative opportunities for specialty food makers. Following its inaugural year, the show will move to San Francisco in 2027, while the Winter Fancy Food Show will be discontinued after 2025.

• High protein. 0 sugar. 4,000 stores. Hero Bread launched its products nationwide in over 500 select Whole Foods Market stores. Hero is already available in over 4,000 retail locations like Sprouts, Safeway, Albertsons, and even Just Salad.

• Target is really doubling down on wellness. Pressed Juicery is launching its exclusive "Express Cleanse" at over 200 Target locations nationwide. Just last week Target announced they’re introducing over 2,000 wellness-related SKUs to their stores nationwide.

• I love it when a rebrand comes together. US Snack brand Back to Nature rebranded, introducing a vibrant new identity inspired by Californian elements. The overhaul includes a refreshed logo, a new bold color palette across over 30 product SKUs, and a new tagline, 'Tasty Snacks Since Way Back', aimed at appealing to both loyal customers and new audiences.

Best Thinmint dupe imo!

• People want premium treats! Nightingale Ice Cream Sandwiches launched its super delicious ice cream products in over 2,400 Kroger stores across the U.S., marking a significant retail expansion for the women- and veteran-owned company.

• I guess the world needs another energy drink (…he says sarcastically). Anheuser-Busch and 1st Phorm, a leading sports nutrition brand partnered to innovate within the energy drinks sector. The initial energy product is expected to launch this summer.

• Still hope for plant-based meat? Meati Foods, a fungi-based meat alternative startup, nearly 2x’d its revenue in 2024. Despite challenges in the meat alt market, the company expanded its distribution significantly, launched new products (including breakfast patties), and is exploring partnerships to maximize production capacity.

• Ice cream legend → fiber focus. Jeni Britton, (of Jeni’s Ice Cream), has launched Floura, a fiber company focused on gut health and sustainability, with its first product, the upcycled Fruit Crush Bar: delivering 13g of fiber from 12 whole plants and available in five flavors.

eCommerce

• Say goodbye to Try Before You Buy. Amazon is ending its Prime Try Before You Buy service on January 31 after nearly 8 years, citing increased customer adoption of AI-powered features like virtual try-on and personalized size recommendations.

• Everyone’s coming for Amazon. This summer, Best Buy plans to launch Best Buy Marketplace, a third-party marketplace, partnering with Mirakl to facilitate product integration for third-party sellers.

• Wirk it, Walmart. Coming off of its “Wirkin’” (i.e. Birkin dupe) hype, Walmart partnered with luxury resale marketplace Rebag to offer its marketplace customers access to genuine luxury items (like Chanel and Louis handbags).

Retail

• Putting on a pretty face. Sephora is undertaking a major project to redesign all of its North American stores over the next five years, focusing on improving the shopping experience based on consumer feedback and shopping patterns.

Funding news

• Retail is so hot right now. Leap, a leading physical retail platform operating over 100 stores across the US, raised $20 million in funding led by Tribeca Venture Partners and DNX Ventures.

• "The future of financial ops for CPG.” Vividly, a trade promotion management platform that uses AI to help CPG brands manage trade spend, raised $30M in Series B funding, led by Centana Growth Partners.

• Everyone’s favorite bev gets acquired. Gryphon Investors acquired a majority stake in sparkling water brand, Spindrift.

• Pipe17, an AI-powered order operations platform, raised $15.5 million in a Series A funding led by LFX Venture Partners.

• Symbotic acquired Walmart's robotics business for $200 million as part of a deal to enhance Walmart's automated supply chain—ultimately creating an AI-enabled robotics platform to improve online pickup and delivery services.

• Seaweed FTW. Atlantic Sea Farms secured $3.8 million in funding, from investors including True Wealth Ventures, Third Nature Investors, and Builders Bridge.

• Daash Intelligence, an AI-powered predictive commerce platform that delivers weekly retailer-specific updates for beauty and personal care brands, raised $5.5M in its second seed funding round, bringing total funding to $8.25M.

• Will dairy-free cheese finally compete with the real deal? Misha's Inc. acquired Vertage, a dairy-free cheese company, allowing Misha's to expand its product line and leverage Vertage's partnership with Fresh Del Monte for enhanced logistics.

• Passport, an ecomm service provider acquired Brand Access, a provider of internationalization services for brands such as HexClad Cookware, enhancing its international eCommerce solutions.

Weekly Pickups

I got to try the next-gen fiber one bar, Floura! I went to the launch event at Popup Grocer last week to try the bar and meet Jeni herself! I was genuinely surprised how much I liked all the flavors. The bar tasted like a really solid fruit bar, which I’m a huge fan of.

Blueberry matcha was my favorite!

Fruit display was by Aimee France

Jenna’s latest obsession: Yammy. These single-ingredient snacks are changing the game for me—and in the most surprising of ways. The Dragon Fruit Chips have become my go-to crunchy snack (similar to beet chips in their casual sweetness but functional as a chip replacement) and the Dried Sweet Potato is chewy, almost like dried sweet potato fries? The 3 SKUs cover all flavor/texture bases and I can’t get over their literal single-ingredient label.

See ya next week!

Nate + Jenna :)

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Hey there.

LA is on fire, and has been for days.

The pictures, videos, and stories leave me truly at a loss for words. It's unfathomable. People's homes are gone—celebrity or not, rich or poor, it doesn't matter. Lives are ruined, forever changed. Even from here in New York, I feel the weight of what our West Coast friends and families are experiencing.

Brands, local restaurants, and organizations are stepping up to help. I've compiled some resources below—please check them out and share them. And if you're a brand looking to get donations to LA, the team at Linkt are willing to help and cover costs for transport, so please email me directly.

For Families & Immediate Needs: Airbnb has opened their doors to provide emergency shelter. For parents, Babyletto is not only providing essential baby gear to affected families but also offers guidance on how to talk to your children about these challenging times.

For Pet Owners: If you've been separated from your pets or need support for them, Cleo & Hooman and Dogdrop are coordinating lost & found services, providing food, veterinary care, and emergency shelter for animals.

For Health Protection: Planet Halo is providing free KF94 masks to LA residents (use code BREATHELA), and Resbiotic is offering their resB Lung Support Probiotic at no cost to those impacted.

Food & Shelter Support: Equip Foods and Wellious are providing protein to our tireless first responders. Sweetgreen is preparing meals for both first responders and those in need—reach out to them directly via DM. The LA Times Food section has compiled a comprehensive list of restaurants offering shelter and food assistance.

Supply Donation Drives: Lifeway foods is collecting supplies for relief efforts from January 13-17th.

Comprehensive Resource Lists: Several groups have created detailed spreadsheets covering all aspects of aid:

• LA Fires Mutual Aid Resources

• MALAN Fire & Wind Storm Resources

• Groups Packing Supplies + Providing Shelter

• LA Fire Resources Navigator

Remember, if you're a brand wanting to help with donations, please email me—I have connections with 3PLs who are ready to assist with logistics and cover costs.

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News From the Week

Battle for the dairy. Lifeway Foods and Danone are currently embroiled in a contentious acquisition attempt and legal dispute.

Here’s the situation ⬇️ 

Lifeway has reported strong financial performance, using its results to support its rejection of Danone’s offers:

• 2023 Net Sales: $160.1 million.

• 2024 Projected Net Sales: $185–$186.5 million, reflecting strong year-over-year growth.

• Lifeway’s stock has soared over 85% in 2024.

Lifeway’s resistance is notable given the recent wave of high-profile acquisitions in the food and beverage space: Siete Foods to PepsiCo, Sauer Brands to Advent International, and Simple Mills to Flowers Foods.

It’s a clash of vision versus valuation. Danone sees an opportunity to dominate a growing market, while Lifeway is betting on its trajectory to justify staying the course. Whether this battle ends in acquisition, litigation, or further stalemate, one thing is clear: CPG M&A is anything but simple.

CPG & Consumer Goods

• 2025, is the year of the smoothie 🥤 :

  • Odwalla (AKA your childhood favorite RTD smoothie) is back after being discontinued by Coca-Cola in 2020. Now, it’s bringing a new range of smoothies and juices in the U.S. in collaboration with Grupo Jemex.

  • Bumpin Blends, dietitian-designed smoothie cubes, expanded its availability to nearly 1,500 Target stores nationwide, following successful launches in Walmart and Sprouts.

    • I recently interviewed Founder Lisa Mastela—check out some great tidbits here.

  • Slate Milk, makers of protein-packed and lactose-free chocolate milk in a can, just launched a high-protein SKU—coming in at a cool 32g of protein 💪 .

    • Just last week Koia also launched a 32g shake.

• Just for the boys. Fine’ry, Target’s private-label fragrance line, launched 12 new men's fragrances.

  • Fine'ry has gained a ton of popularity as a solid dupe to high-end fragrances. This trend aligns with the broader movement towards "affordable luxury" in the fragrance, apparel, and accessories industry. As costs of living continue to challenge consumers, there's a growing demand for more budget-friendly options that don't compromise on quality

• It’s about time! Monin announced yuzu 🍋 as the 2025 flavor of the year. I feel like Yuzu has been a thing, at least in emerging brands, no thanks to YuzuCo!!

eCommerce

• Missed your return deadline? No problem. Poshmark partnered with return management platform Loop to allow consumers to resell non-returnable items directly on the Poshmark site.

• Betting on ads. Amazon is expanding its ad business by allowing other retailers to use the technology behind its $50 billion ad operations on their websites.

• eBay x Meta. Meta is testing a feature that allows users to browse eBay listings directly on Facebook Marketplace in select countries, including the U.S., Germany, and France.

• Porch pirates, BEWARE. Hyve, a new smart home delivery pod designed to prevent package theft, launched at CES 2025. The hyve pod will be available for purchase in June 2025 for $299.

  • It was started by retail serial entrepreneur + founder of $12M company PackIt that sells freezable lunch boxes, snack bags, and bento containers.

• Instant content. Avataar launched a new tool called Velocity that enables the creation of AI-generated product videos from a product link. It’s already in use by notable companies like HP and Victoria’s Secret.

Retail

• Is Target the new wellness hub? Target is expanding its wellness assortment with over 2,000 new items, with more than 600 being exclusive to Target and over half priced under $10.

  • New and exclusive brands will include: Bloom colostrum & collagen drinks, BERO non-alcoholic beer (co-founded by Tom Holland), Being Frenshe haircare from Ashley Tisdale, Blake Brown haircare from Blake Lively, and Dr. Squatch body care.

• The year of gardening 🥦. DoorDash launched a new product page for cannabis-derived THC- and CBD-infused gummies, drinks, and candy, available for delivery in select markets where marijuana sales are legal.

Funding news

• First big acquisition of the year. Flowers Foods acquired Simple Mills for $795 million in cash (yea, you read that right). Simple Mills will join Flowers' brands like Dave’s Killer Bread, Tastycake, Wonderbread, and Nature's Own.

• A(nother) new wellness beverage co. Safety Shot (Nasdaq: SHOT) acquired Yerbaé Brands, which is expected to add ~$12 million to its annual revenue.

  • The partnership aims to combine innovative wellness solutions with Yerbaé’s popular plant-based energy drinks, targeting health-conscious consumers seeking healthier alternatives.

• Have you bought anything on a live? Whatnot, a leading live shopping marketplace, has announced $265 million in Series E funding, bringing its valuation to nearly $5 billion.

• The future of ecom? PrettyDamnQuick, an eCommerce tech company, raised $25 million in Series A funding focused on facilitating customizable shipping and checkout processes for retailers.

• A massive mayo acquisition. Advent International acquired Sauer Brands Inc., a condiment, spice and seasoning brand known for Duke's Mayo, for approximately $1.5 billion.

• It’s very tasty gin! Renais, a UK gin brand started by actor Emma Watson and her brother Alex, has secured nearly £5 million ($6.3 million) in funding from US private-equity firm InvestBev and others to support its international expansion. The investment will facilitate growth in the US market following successful launches in California and New York.

• Consortium Brand Partners acquired Jonathan Adler, known for quirky home decor products like a Rocket Vodka Decanter and Quaaludes Canister.

• Wellness is SO HOT right now. The Equity Studio has made a multimillion-pound investment in Trip, a rapidly growing British wellness brand known for its plant-powered beverages and supplements.

• Tru Fragrance acquired the clean fragrance brand Lake & Skye, which has been profitable and is projected to double its sales in 2025.

Weekly Pickups

Curious Elixrs - with NA on the rise I love it when brands craft something special! Plus these bevvies do mix well with some spirits.

Broth Masters - the first thing I made with this was a high protein tomato sauce! Turned out sooooo good.

Foodberry - Foodberry isn’t a CPG company—it’s a food tech company that partners with brands (like Nada Moo!) to make magic happen. Inspired by how fruits naturally have their own “wrapper,” they crafted plant-based coatings to create poppable bites across a variety of products. They sent along their Ice Cream Bites, which are truly delightful. Fresh and fruity on the outside, creamy on the inside, all-around the perfect two-bite treat that satisfies any sweet craving. - Jenna

See ya next week!

Nate + Jenna :)

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Hello hello!

Welcome to 2025 everyone! 🎉 

We’ll see what this year holds, but for myself and us here at Express Checkout I am excited for what we have in store. Weekly interviews, deep dives, a podcast, more TikToks (as long as it’s still here)…we got it all and more! You can check out our back catalogue of content at expresscheckout.co.

If you are a founder of a brand we’d love to interview you for our interview series Checkout Chats! We plan to release one each week!

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🪩 We also got some events coming up for NRF this week. If you’re in town for the show hit me up! Reply to this email

• NRF Rooftop Soirée | 📆 Jan 10 - 7 PM | 📍 Upper East Side by Central Park

• NRF Invite-Only Happy Hour | 📆 Jan 12 - 7:30 PM | 📍 The Brazen Tavern

News From the Week

New year, new trends! 📈 🥤 

The big picture: As we step into 2025, the food and beverage industry stands at a fascinating crossroads. This year promises to be transitional, with several decisive forces like economic uncertainty reshaping our industry landscape.

• Health tech disruption: The rise of GLP-1 medications is already catalyzing significant change in product development and marketing strategies. Major players like Conagra are leading with new labeling and portion control, while brands across categories pivot toward GLP-1 friendly ingredients. friendly" positioning gaining serious momentum.

• M&A stays hot: Industry consolidation continues as large players snag niche brands to diversify. Interest rates might ease acquisition paths, unlocking more affordable growth capital. However, don't expect grocery prices to drop before 2026 – persistent supply chain challenges, rising labor costs, and climate impacts on agriculture (just look at cocoa prices!) keep pricing pressure high.

• Beverage evolution: Female-focused energy drinks (like Bloom & the newly unveiled Unwell) are gaining serious traction. Plus the protein revolution continues unabated, though interestingly, non-plant proteins are showing stronger momentum than their plant-based counterparts. People want whey!!

• Food innovation: Globally-inspired snacks will continue having their moment, while sustainable agriculture claims and celebrity run brands will falter. Private label’s unstoppable momentum will grow as value-seeking consumers remain cautious.

✅ Bottom line: As we navigate this transitional year, adaptability will be crucial. The successful players will be those who can balance innovation with economic pragmatism, all while meeting evolving consumer needs in an uncertain market.

CPG & Consumer Goods

• Protein protein and more protein 💪 

  • Koia, the plant-based RTD protein drink, just launched their highest protein shake to date. Their Elite Protein shakes offer 32g of plant protein with only 4g of sugar and 6g of fiber.

  • Daily Harvest has also launched a new line of high-protein smoothies with 20g of plant protein per serving. They’re also partnering with tennis star Sloane Stephens.

• Alice Cooper and adaptogens? WhistlePig has partnered with rock legend Alice Cooper to create a limited edition alcohol-free Old Fashioned cocktail called Sex, Drugs, Rock & Dry Old Fashioned, with 100% of profits supporting the bartending community. The cocktail features non-alcoholic 100% Rye 'Non-Whiskey' and unique ingredients like barrel-aged maple syrup and adaptogenic mushrooms (because why of course not).

curious if this will even reach whoever their intended audience is

• No one can take my Pinot. The U.S. Surgeon General's new advisory warns that apparently there is no safe level of alcohol consumption and that even small amounts may increase the risk of cancer.

  • While this warning is bound to spark conversation, I remain skeptical that it will have a lasting impact. Alcohol's cultural and social significance runs too deep, ingrained in everything from celebrations to rituals of relaxation. Some have compared this to the decades-long shift in public perception of cigarettes, but I doubt we'll see a similar transformation anytime soon.

• It’s been a tough 2 years for alt-meat. Sundial Foods, a California-based alt meat startup backed by Nestlé, has closed down and sold its intellectual property to a large European food company. Founded in 2019, the company faced challenges in fundraising (classic) and scaling its technology.

eCommerce

• Honey leaves a sticky feeling. YouTuber Devin Stone of the Legal Eagle channel is suing PayPal over its Honey extension for allegedly replacing creators' affiliate links with its own, depriving them of revenue. The class action lawsuit, filed in California, claims this practice violates California’s Unfair Competition Law. PayPal denies the allegations and states that Honey follows industry standards, though I don’t think so.

  • I highly recommend watching MegaLag’s YouTube deep dive on how Honey/PayPal have been seemingly and sneakily stealing affiliate revenue from creators.

• I really don’t want AI in EVERYTHING. Samsung is partnering with Instacart to enable its AI-powered Bespoke refrigerators to automatically order groceries based on what they detect is running low. The fridge uses internal cameras to track contents and can suggest items for replenishment, allowing users to approve purchases through a touchscreen.

Thanks, I hate it

• So is it accessible? The FTC has fined ecomm accessibility startup accessiBe $1 million for misleading advertising and compensating reviewers without disclosure. The FTC found that accessiBe overstated its product's capabilities and failed to provide adequate evidence for its claims.

• I have a feeling we might be getting more of these suits. A Washington judge has given the green light to Zulily's antitrust lawsuit against Amazon. Zulily alleges that Amazon has created an illegal monopoly through price-fixing agreements and anticompetitive practices that stifle competition. The trial is set to take place next year.

Retail

• I think I would have enjoyed college so much more. Sodexo plans to launch nearly 100 "Food Hive" convenience stores at college campuses across the U.S. by 2026.

  • Why now? Well the C-store category has been growing significantly over the past few years and expected to grow by $930 billion from 2024 to 2028. Even grocery stores, like Gelson’s are getting in on the action by launching their own C-store chain.

• I can’t believe it’s their first store! Savage X Fenty has opened its first store in New England at South Shore Plaza.

  • Since launching in 2018, they have been a DTC brand growing to over a $1 billion valuation and having raised a total of $310 million in funding from the likes of Neuberger Berman, L Catterton, Avenir, and Jay-Z's Marcy Venture Partners. The brand made its first foray into wholesale in April 2024 with Nordstrom, a move that came six years after its initial launch. While Savage X Fenty's DTC strategy has been successful and there are definitely things to learn from it, it's crucial to recognize that two forms of capital greatly impacted that success – Rihanna's cultural capital and the extensive venture capital.

Supply Chain

• It all feels sketchy still. SHEIN has joined the U.S. Customs and Border Protection (CBP) Section 321 Data Pilot program to enhance transparency in its shipments and assist CBP in preventing illegal imports.

Funding news

• I guess craft beer is really done for. Mass. Bay Brewing Company and Finestkind Brewing LLC are merging to create the "Barrel One Collective," which will encompass 14 brands and operate eight taprooms in New England. Brands including Smuttynose and Harpoon.

  • This is in line with a broader trend of consolidation and strategic partnerships within the industry 🍻

    • Tilray Brands (a cannabis company) acquired four craft breweries from Molson Coors

    • Lord Hobo and Lone Pine Brewing announced plans to merge

    • E. & J. Gallo made a strategic investment in Montucky Cold Snacks

    • Asahi acquired Octopi Brewing

• Marquee Brands has acquired Laura Ashley, a renowned British home and lifestyle brand, to expand its global footprint and enhance its portfolio, valued at over $4 billion.

See ya next week!

Nate + Jenna :)

📰 Got news? Submit it here! 📰

Any other questions or inquiries you can respond to this email or DM me on Twitter or LinkedIn or TikTok

If you are enjoying my newsletter please share with anyone you think would benefit from it! 🙏

Hello hello! Welcome to the last issue of 2024!!

Holiday spending continues to demonstrate its resilience, with overall growth reported between 4-5% YoY—pretty strong despite economic uncertainties.

This year, physical retail made a notable comeback. In-store shopping accounted for 77% of total payment volume and saw growth of ~4% YoY, a notable improvement from the nearly 2% growth recorded last year.

• Physical retail will continue to be a big player going into 2025. After years of supposed decline of brick-and-mortar—and years of shopping behind a screen—retailers are becoming more strategic, focusing on quality over quantity.

• Meanwhile, online shopping grew 7% YoY—a slight deceleration from the 10% growth seen last year, reflecting the normalization of eComm after its explosive pandemic-era gains.

• Many consumers now frequent both channels, purchasing online when it’s more convenient but returning to stores for experiences that screens just can’t deliver.

So what does this mean? Retailers who blend the tactile experience of physical stores with the convenience and personalization of online shopping will be best positioned to thrive in this hybrid future. It’s clear that the days of “either-or” are behind us—consumers want is the best of both worlds.

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News From the Week

Legacy brands are in their wild child era. 🤪 

This week was the Pop-Tarts Bowl—and it was chaotic to say the least. This college football bowl game has been around since 1990, but entered its CPG era in 2020 when Kellogg's Cheez-It brand became the title sponsor. Last year, the sponsorship shifted to Pop-Tarts, marking the beginning of a whole new era of CPG insanity.

This year's Bowl took social media by storm with over-the-top antics and some unforgettable moments (who needs Gatorade when you have mini Pop-Tarts?).

The game featured three mascots—Hot Fudge Sundae, Wild Berry, and Cinnamon Roll—competing for fans’ attention throughout the night. The winning team’s quarterback got a special honor: choosing which mascot would be “sacrificed” in a giant toaster and, yes, eaten.

I think this is part of a larger trend of legacy brands embracing chaos and irreverence in their marketing strategies. This is definitely a response to modern disruptor brands like Liquid Death, which thrive on attention-grabbing, offbeat marketing.

Take Nutter Butter, for instance. Their TikTok account is hilariously bizarre, mixing cookie sales with conspiracy theories and creating content that’s equally unsettling and entertaining.

Yes this is real

This approach has garnered millions of views and sparked conversations across social media, proving that even a nostalgic cookie brand can find new life by embracing absurdity.

Legacy brands are recognizing that younger audiences value authenticity and humor—and going viral often means embracing chaos and unpredictability. Where brands of all sizes used to focus on aspirational lifestyles, they now prioritize cultural relevance. It’s no longer enough to just be a staple in someone’s pantry; brands want to live rent-free in consumers’ minds.

The Pop-Tarts toaster stunt is absurd, memorable, and slightly dark. It’s exactly the kind of moment designed to spark conversations and cement cultural relevance.

TL;DR? Maybe we’re all overthinking things a little and CPG should just be fun.

• Don’t think I’ll be slapping this bag. Proxies, a non-alc wine brand, has launched what they claim to be the worlds first NA boxed wine. Price is a bit high compared to regular boxed wine, but the packaging is gorgeous. Overall the NA wine market is still so new—it’s too soon to predict consumer adoption.

  

• Meet David IRL. The David Protein Bar, co-founded by RXBar's Peter Rahal, launched at its first major, national brick-and-mortar retailer: The Vitamin Shoppe. It’s priced at a cool $39.99 for a 12-pack of two flavors, Chocolate Chip Cookie Dough and Cake Batter.

• Haircare mogul expanding empire. Jaimee Lupton, founder of Monday Haircare, is launching two new brands: Laura Polko Los Angeles and Daise, under the Zuru Edge beauty umbrella.

  • Laura Polko, created in partnership with the eponymous celebrity hairstylist, focuses on hair care for Millennials and will launch in Target.

  • Daise targets Gen Z and Gen Alpha with affordable body care and fragrance products—starting in Ulta and expanding into Target in 2025.

• The weight loss supplements keep coming. Kourtney Kardashian’s Lemme supplement brand is launching its 16th gummy SKU—this time, exclusively in Target. Lemme Tone is aimed at enhancing metabolism and reducing cravings (not to be confused with Lemme GLP-1 Daily, the brand’s GLP-1 support gummy).

• Is Poppi the newest lifestyle brand? Poppi and Target collaborated to launch a limited-edition apparel collection featuring over 20 unique pieces including sweatshirts and hats.

  • Cameron put it best: It’s just another step into cementing Poppi as a lifestyle brand. Following the news that Coke and Pepsi are both entering this category with their own lines of pre/pro-biotic sodas, Poppi and Olipop need to fight to secure brand loyalty. And today? Brand loyalty is demonstrated on hoodies. I don’t make the rules.

    

• TikTok-viral protein brand hits the shelves. SEEQ launched its Clear Protein at Target in three popular flavors: Strawberry Lemonade, Blue Razz Freeze, and Watermelon Wave. The new tub size will be 40% smaller than the original, making it more approachable to drive trial.

  • There are a TON of clear protein products on the market now. Clean Simple Eats, Gramms, Ryse, Protein2o, Pwr Lift (by Vita Coco), Ready Protein Water, Lumen Protein Lemonade, and Pretty Tasty. My favorite one right now is the Clean Simple Eats clear protein drink!

• Will there be any late mover advantage? Hanes is expanding into the activewear category with its new collection, Hanes Moves. With a strong existing customer base, this could be a smart move for Hanes.

• From YouTube feed to your local Target. Blogilates, an activewear company founded by the #1 female fitness YouTuber Cassey Ho, launched a new active collection in partnership with Target. The collection includes a variety of more affordable activewear—something Ho claims her followers have been requesting for years.

  • Some background: Ho started her channel back in 2009, and Blogilates has since achieved over 4.4 billion views and 10 million+ subscribers! I highly recommend Colin & Samir’s video on her channel.

  • Ho successfully launched yoga and pilates equipment into Target in 2020, but this is her first foray into IRL fashion. After going viral for her activewear on multiple occasions (including that time TSwift rocked a Blogilates skort in a music video), Ho fully expects to sell out.

• The best cookie takes Walgreens. One of our favorite cookie brand, Fancypants just launched in Walgreens/Duane Reades in NYC—bringing its total retailers over 2,250!

eCommerce

• Consider it Benched. Popular accounting startup Bench abruptly shut down (but seems to have been acquired), leaving over 35,000 U.S. customers without access to their accounting and tax documents. The company advised customers to file a six-month extension with the IRS and download their data by December 30. If you use Bench, there are solutions:

  • Finaloop already offers a migration plan for Bench customers, and is now offering Bench customers a 75% discount on 2024 books.

  • Bags also shared that they are aiding in CPG brands in migration from Bench. (Bags was our sponsor last week! They’re great)

Retail

• Department stores are having a moment: Nordstrom is going private in a $6.25 billion deal with the Nordstrom family and Mexican retail group El Puerto de Liverpool. Meanwhile, Saks Global acquired Neiman Marcus Group for $2.7 billion.

  • This acquisition reflects a broader trend of traditional department stores struggling to compete in the modern retail landscape: Macy's is closing 150 stores over the next three years, and Saks has been grappling with vendor payment issues, reportedly owing hundreds of thousands of dollars to numerous brands.

• They’re back. Big Lots reached a deal to save up to 400 stores from closing.

Funding news

• Beauty retail platform scooped up. SNR Capital acquired Thirteen Lune, an inclusive beauty retail platform. As part of the deal, Thirteen Lune will be operated by PCA Companies, a global beauty distribution and services company.

  • Prior to the acquisition, Thirteen Lune owed tens of thousands in unpaid invoices to brands stocked on its website and at its brick-and-mortar store.

• A downgrade for Kim K. The one and only Kim Kardashian is no longer managing SKKY Partners, the private equity firm she co-founded in 2022. The firm's ambitions to raise $1 billion have fallen flat, with only $121 million secured and a single deal completed by April 2024.

  • Kardashian’s role has now been downgraded to senior operating advisor. SKKY Partners’ lone investment to date is in the high-profile hot sauce brand Truff, which has yet to signal broader success for the firm.

  • My thoughts? Kim should have partnered with a Tier 1 or Tier 2 fund from the start and leveraged their credibility and infrastructure. This would have allowed her to focus on adding cultural value and identifying consumer trends without taking on the heavy lifting of launching a fund from scratch.

• MLM buys DTC Brand. USANA Health Sciences (the 18th largest MLM by rev) has acquired a 78.8% controlling stake in Hiya Health Products for $205 million. Hiya co-founders will continue to run the brand.

Weekly Pickups

The new Jell-O: Oddball makes sugar-free, natural jelly with no animal byproduct—using agar and locust bean gum as the gelling agents.

See ya next week and HAPPY NEW YEARS 🍾 🥂 !

Nate + Jenna :)

📰 Got news? Submit it here! 📰

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Hello hello!

Merry Christmas and Happy Hanukkah to those who celebrate either/any/all! 🎄🎁 🕎 

Although I don’t celebrate Christmas, I absolutely LOVE this time of year. The lights, the treats, the movies (Elf and The Holiday are probably my top picks)…what’s there not to love?

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News From the Week

The FDA updated its definition of “healthy” for food labeling for the first time since 1994! The new rule emphasizes food groups and dietary patterns over isolated nutrients, aligning with the latest nutrition science and the Dietary Guidelines for Americans. Here’s what you need to know:

💀 Old Law (1994)

1. Focus on Individual Nutrients: Foods were evaluated based on having specific minimum amounts of isolated beneficial nutrients like vitamin A, vitamin C, calcium, iron, protein, or fiber.

2. Caps on Fats & Cholesterol: Strict limits on total fat, saturated fat, sodium, and dietary cholesterol, often excluding nutrient-dense foods like nuts and salmon.

3. No Added Sugars Considered: The impact of added sugars was not a factor in determining if a food qualified as "healthy."

4. Processed Foods Favored: Fortified foods, even those high in added sugars (e.g., sugary cereals or fruit snacks), could qualify by meeting the minimum nutrient requirements.

😊 What’s New (2024)

1. Focus on Food Groups: Foods must contain minimum amounts of vegetables, fruits, grains, proteins, or dairy to qualify as "healthy"

2. Limits on Nutrients: Much stricter caps on added sugars, sodium, and saturated fat, but allowances for naturally occurring fats (e.g., in nuts or seafood).

3. Automatic Qualification: Whole, unprocessed foods like fruits, veggies, and water automatically qualify.

4. More Flexibility for Snacks & Small Portions: Adjusted criteria for smaller serving sizes (e.g., ≤50g snacks) so they can qualify.

5. Inclusive of more foodstuff: Frozen, canned, dried, and “culturally preferred foods” are eligible under the new criteria.

How This Impacts CPG Founders

1. Reformulation Opportunities: Brands may need to adjust recipes to meet the new "healthy" criteria, especially for products with added sugars or sodium.

2. Labeling Adjustments: Companies using "healthy" claims will need to update packaging and maintain documentation to comply by the February 25, 2028 deadline.

3. Marketing Advantage: Meeting the new criteria could make your product stand out as consumers increasingly prioritize health-conscious choices.

4. Innovation in Snack & Convenience Categories: With adjusted serving size criteria and inclusion of culturally preferred foods, brands can innovate around smaller, healthier snacks or globally inspired offerings.

• A natural progression. Eight Sleep, the smart mattress company, has launched Sleep Elixir, a sleep supplement developed with insights from over 600 million hours of sleep data. This move marks a strategic expansion into wellness products.

• Everyone will have a GLP-1 product in 2025. Conagra Brands is introducing an "On Track" badge for 26 Healthy Choice frozen food items, indicating they are high in protein, low in calories, and suitable for GLP-1 receptor agonist users.

  • And this is in no way surprising. GLP-1 friendly products are going to blossom in 2025. There are even products that a specifically formulated for customers taking GLP-1!

• From DTC to main street USA. True Classic, a fast growing basics brand, is expanding its availability by launching core T-shirts in 460 Target stores, in addition to its existing presence in Kohl's and Sam's Club. Founded in 2019, the brand has grown to $500 million in sales and plans to continue adding retail locations while strengthening its wholesale business.

  • This moves makes a ton of sense, even though Target has their own basics apparel line. Why? Because consumers clearly love True Classics. According to Particl data, True Classic sold a staggering nearly 112,000 Black Crew Neck T-Shirt on their DTC in the past 30 days. Target saw the writing on the wall and wanted in on that.

• A very sparkly collab. T3, a LA-based female-founded hair tools brand, has collaborated with fellow female-founded accessory brand LELET NY to launch a limited-edition holiday sparkling pave crystal barrette.

  • I feel like sparkly and crystal focused collabs have been popping off lately. Bose has done some this year alone one with jeweler Maggi Simpkins and with Susan Alexandra. Crocs too, with Simone Rocha!

• High School Musical → high-growth beauty. Ashley Tisdale is launching a new collection of "hair wellness" products under her brand Being Frenshe, inspired by her personal hair journey and struggles with alopecia. The line includes various hair care products aimed at promoting scalp health and will be available exclusively at Target starting December 29.

  • Being Frenshe is clearly doing something right, seeing nearly $30M in annual revenue. The brand is also available in nearly 2,000 Target stores nationwide and have done creative partnerships with brands like Canopy and even Rugs USA. The brand has evolved to a fully fledge lifestyle brand, almost like Goop.

eCommerce

• Second time’s the charm? Best Buy is set to relaunch its third-party marketplace in summer 2025, eight years after abandoning its first attempt due to low revenue and customer confusion. The new marketplace will be built on the Mirakl platform.

Retail

• Big Lots is a big bust. Big Lots announced that it will be shutting down all of its remaining 963 stores across the US as they will not go through the sale to Nexus Capital Management. The retailer, which had already closed 400 stores this year, filed for Chapter 11 bankruptcy in September.

  • Here are the deets: The company attributed its bankruptcy to a decline in consumer spending (especially on high-ticket items), overall furniture/home furnishings retail segment down 3.3% through November, and failed inventory valuation made Nexus acquisition economically unviable.

  • And their financial situation really paints the bigger picture: fiscal year 2024 ended with revenues of $4.7 billion (14% decline from previous year) and a net loss of $482 million (up from $211 million in 2023). They also have tens of millions in unpaid rent and little inventory movement.

• Smart Home? No, smart store. VusionGroup has partnered with The Fresh Market to implement its digital signage and inventory management systems across all 166 stores in the US.

Supply Chain

• The strike of the year, just in time for the holidays. Amazon workers launched a strike on December 19, 2024, affecting multiple facilities across the US—the largest against Amazon in U.S. history. Strikers are demanding higher wages, better benefits, and safer working conditions, and pressuring Amazon to recognize and negotiate with unionized workers. Amazon, however, disputes the union's claims and asserts that the strike has not impacted its operations or holiday deliveries.

• Everything is getting more expensive 😢 FedEx plans to implement new surcharges and adjust existing fees starting January 13, 2025, including an inbound processing fee for U.S. imports and a 40-pound minimum billable weight for certain packages. These changes aim to enhance profitability amid fluctuating demand, reflecting similar adjustments by competitor UPS.

Funding news

• All for a ring. ŌURA raised $200 million in a Series D funding round, increasing its valuation to $5.2 billion. The investment will support the company's growth as a leader in the smart ring market, expand product offerings, and enhance innovation in health technology, particularly with AI. The company recently surpassed 2.5 million rings sold and is focused on redefining health wearables.

• Rumors rumors 👀 McCormick is reportedly in talks to acquire Sauer Brands, the parent company of Duke's Mayonnaise, for over $1 billion. The potential deal comes after Sauer was acquired by private equity firm Falfurrias Capital Partners back in 2019.

Weekly Pickups

Ginger and I both got some Zab’s Hot Sauce. (Love the custom dog toy from Goodboi!)

See ya next week and HAPPY HOLIDAYS!

Nate + Jenna :)

📰 Got news? Submit it here! 📰

Any other questions or inquiries you can respond to this email or DM me on Twitter or LinkedIn or TikTok

If you are enjoying my newsletter please share with anyone you think would benefit from it! 🙏

Hello hello!

This week we sat down with the founders of Wildgrain, my new favorite subscription. Johanna and Ismail have quietly built a $30M profitable business (yes, you read that right—profitable!) by bringing European-quality bread to American homes through, of all things, frozen subscription boxes.

Their story has everything I love: a product born from personal frustration, founders who ignored the traditional VC playbook, and proof that you can scale artisanal quality while maintaining positive unit economics. Plus, they launched in January 2020 with a newborn baby right as COVID hit—and not only survived, but thrived. Get ready for a master class in building a sustainable DTC brand that actually makes money.

In 2025, we’ll be writing weekly Checkout Chats! Want to snag a spot on the lineup? Shoot me and Jenna (jenna@expresscheckout.co) and me (nate@expresscheckout.co) an email with your pitch!

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News From the Week

Last week, Hims & Hers (the publicly-traded telehealth company that provides OTC + prescription medications and personal care products) launched 'The Shape of America' report, providing insights into Americans' relationship with weight in 2024. Based on a survey of 5,000 adults, key findings reveal:

• 83% of Americans are not at their desired weight, with respondents wanting to lose an average of 42 pounds.

• 75% of Americans think about their weight daily, with 14% considering it constantly.

• And the dystopian cherry on top? 70% would rather lose 10 pounds than gain 100 friends.

If you’re reading this study with your Big Business Brain, this may look like a shiny opportunity backed by staggering data. I’m sure Hims & Hers researchers were pleased to report these findings to their higher-ups—and I’m sure said higher-ups are already developing their next “weight loss solution” as we speak. But if you’re looking at this data as a human? It’s nothing short of devastating.

And while many want to point fingers at diet culture, I’m far more interested in a different culprit: wellness culture.

Americans are dying to lose weight at any cost (companionship, the overwhelming majority of our thoughts, etc.), yet we now cringe at the low-fat, zero-sugar, 100-calorie-pack “artificial junk” and restrictive diets of our Y2K skinny trend past. This study shows something I’ve been trying to pinpoint, but hadn’t yet had the data to do so: under the reign of wellness culture, we may be “over” diets…but weight loss has never been more aspirational.

As three-quarters of Americans lose their minds to lose some pounds, “diet products” are no longer capitalism’s solution—but ”healthcare solutions”¹ blanketed under the guise of “wellness” are.

In the new year, I’ll be working on a more comprehensive deep dive on how wellness culture has bled into weight loss culture…and what that means for CPG, retail landscapes, and more. If you have any thoughts on this topic (or know a dietician who’d be willing to chat) please send them my way at jenna@expesscheckout.co! - Jenna

1: This is in reference exclusively to the non-medically necessary use cases of weight loss drugs.

CPG & Consumer Goods

• But will they still buy Poppi and Olipop? Both Coca-Cola and PepsiCo are set to enter the prebiotic soda market in 2025: Coca-Cola is launching a prebiotic soda under its Simply brand, while Pepsi is relaunching Soulboost, originally launched in 2021 as a mood-boosting beverage, as a prebiotic soda sweetened with stevia.

• The protein launch of the week 🙃 General Mills launched Cheerios Protein, a new cereal with 8g of protein…or a cheaper alternative to Magic Spoon, with macros just shy of the unicorn’s. Available in Cinnamon and Strawberry, Cheerios Protein will hit U.S. retailers at the end of December, priced at $5.39.

  • Clearly, General Mills is capitalizing on its new favorite stat: 71% of consumers are trying to eat more protein in their diets. This protein boom has fueled the company’s most recent innovations, including Wheaties Protein, Annie’s Super Mac and Yoplait Protein.

  • Call it what you want, but it’s certainly impressive to see an 83-year-old legacy brand (!!) keep up with the trends.

• Congrats to all! Sephora announced the eight BIPOC brands selected for its 2025 Accelerate program: 4AM, OliviaUmma, Bounce Curl, THE POTION STUDIO, TONAL Cosmetics, INFLUXIOUS, RUHVEDA, and The Steam Bar.

• It’s supposed to be hot on the inside. Stanley, the first brand to make to-go cups go viral, is recalling 2.6 million travel mugs due to a burn hazard.

• Can they take back the athleisure crown? Under Armour came back from the dead and hosted its first investor meeting in 6 years, outlining its product, brand, and commercial strategies.

• Now this is a product expansion I can get behind. Seth Rogen's Houseplant brand launched a hemp-derived Delta-9 THC-infused sparkling water in four flavors: Black Cherry, Blackberry, Citrus, and Pineapple. This marks Houseplant's entry into the consumable cannabis market.

• Sounds like semantics. Meati Foods settled a false advertising lawsuit regarding claims that its products were made from "mushroom root," instead revealing they are made from a filamentous fungus called Neurospora Crassa. I

eCommerce

• Amazon on the offensive. Amazon is increasingly targeting paid reviews by asking online shoppers to provide information about their testimonials on platforms like TikTok and YouTube. This initiative comes in light of new FTC rules against paid product reviews, prompting concerns among sellers about potential suspensions.

• She’s back…kinda. Formerly beloved department store Lord & Taylor is set to relaunch in 2025 as an online discount luxury retailer after being acquired by Regal Brands Global. The new platform will focus on offering designer goods and Lord & Taylor-branded products sourced from distributors, while aiming to position its products in high-end retailers like Saks Fifth Avenue and Nordstrom.

• The ultimate omnichannel hack. Lucky partnered with Bloomingdales to integrate luxury brands' DTC sites with Bloomingdales' in-store inventory. This allows online shoppers to check product availability and opt for same-day pickup or delivery from local Bloomingdales stores.

Retail

• Foxtrot is slowly returning… Foxtrot, the retailer whose parent company abruptly filed for bankruptcy and closed its doors in May, plans to re-open two locations in Dallas in January after re-opening five in Chicago this year.

  • …but the old Foxtrot still haunts them. The Illinois Department of Labor is seeking over $3.8 million in back wages for more than 350 former employees of Outfox Hospitality.

• No more coupon clipping at home. Stop & Shop is rolling out "Savings Station" kiosks in half of its stores by mid-December 2024, allowing customers to access digital coupons without needing a smartphone or internet.

• Amazon keeps growing its grocery store count. Whole Foods has opened 3 new stores on the East Coast following the introduction of its new small-format concept, Daily Shop, in NYC. Meanwhile, the Amazon Fresh brand opened its 10th location in the D.C. metro area.

  • I’m very curious to see how both these (seemingly very similar) brands evolve over the next few years. IMO, Whole Foods has lost its charm since it was acquired by Amazon, diminishing its focus on quality, curation, and a distinct shopping experience. While prices have dropped in an attempt to appeal to a broader audience, I think this has led to an identity crisis for the brand—alienating its core customer base without fully capturing new audiences.

• The retail media takeover. Grocery TV partnered with Hy-Vee to create a large in-store retail media network across more than 400 locations, featuring over 10,000 screens (brain rot). Starting February 2025, brands will have new opportunities to reach millions of shoppers with impactful digital ads.

• The best place to play “house.” RH plans to open nine new design galleries next year, seven in North America and two in Europe.

• Primark plans to expand its U.S. presence by opening 5 new stores in 2025, following a $90 million investment in 2024, bringing the retailer's total U.S. store count to 29.

• From friends to enemies. Albertsons filed a lawsuit against Kroger for breach of their merger agreement, claiming that Kroger failed to take necessary actions for regulatory approval, resulting in the merger being blocked. Albertsons seeks billions in damages, including a $600 million termination fee.

Supply Chain

• A W for the small guys. The FTC sued Southern Glazer's, the largest alcohol distributor, for offering exclusive discounts to larger customers, which allegedly harms smaller retailers. This lawsuit is the first of its kind in over 20 years and aims to enforce pricing fairness in the industry.

• Are these the infamous NJ drones?! Amazon developed the MK30 drone, designed to travel twice as far and operate more quietly than previous models. This new drone can deliver eligible items weighing five pounds or less within 60 minutes to consumers near its fulfillment center in Tolleson, Arizona.

Funding news

• Keeping everyone’s glass full. Full Glass Wine Co. acquired Wine Access and Cameron Hughes Wine, its 6th and 7th acquisitions in 17 months! This strategic expansion aims to enhance their portfolio with high-quality brands, ultimately targeting over $200 million in revenue for 2025.

  • I actually interviewed Neha, co-founder, earlier this year. Checkout our interview here!

• Lighters, pens, and… hair bushes? BIC acquired Tangle Teezer, a premium detangling haircare company, for approximately €200 million.

• Going private? Walgreens is in talks to be acquired by private equity firm Sycamore Partners—and Walgreens' shares surged ~18% after the news. This marks another attempt for Walgreens to go private, having previously sought a buyout in 2019 without success.

Weekly Pickups

One Trick Pony’s Maple Crunch Peanut Butter

Jenna’s thoughts: This is, hands down, the best peanut butter I have ever put in my mouth—and I spent 10 years of my life proclaiming that peanut butter is my “favorite food” (my answer only changed upon realizing that “adults” don’t consider “peanut butter” a “food”).

If you’re someone who equally appreciates crunchy and creamy (we’re a rare breed) this is your dream nut butter. It’s a creamy, sweet mapley base with little magical balls of white chocolate crunchies that satisfies my need for complex texture—without putting off the anti-peanut-chunk diehards. I’ve already made multiple friends come try it and every single person has been changed for good. I fear I will finish this jar by EOW and it will have only ever touched a spoon.

Nates thoughts…. what Jenna said! There’s a reason I invested in One Trick Pony! Best peanut butter out there 🙂

@nate.rosen

@Bethenny Frankel i think you’re going to like the new @Eatflings! And trust me, i did not like the first version i tried just like Bethen... See more

The new and improved Flings toaster pastry!

Yes this is the Fling that Bethenny Frenkel famously DESTROYED online…and it destroyed her Smeg toaster over. Don’t worry they sent her another. I was very very impressed with V2, I tried V1 and it wasn’t good at all. This new version got rid of sugar alcohols and is now sweetened mainly with honey! Delicious!

See ya next week,

Nate + Jenna :)

📰 Got news? Submit it here! 📰

Any other questions or inquiries you can respond to this email or DM me on Twitter or LinkedIn or TikTok

If you are enjoying my newsletter please share with anyone you think would benefit from it! 🙏

Hello hello!

I’m back from NOSH Live! It’s always a good time with the BevNet/NOSH crew, and this year it was extra special with a guest appearance from the Jennifer Garner and John Foraker of Once Upon a Farm! Thanks to everyone who stopped to say hi—was so great seeing a bunch of CPG folks in the same room (and it’s getting me even more excited for Expo…)

hi Jen

Don’t forget to check out our recent gift guides! Two are live and more are coming! 🎁 

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News From the Week

BFCM 2024 is finally over. Let’s see how it played out, shall we?

🚀 Record-Breaking Numbers:

• Shopify stores saw $11.5B in sales (+24% from 2023)

  • $15.8 million per minute during Cyber Monday's busiest hours!

• Cyber Monday alone: $13.3B in US online sales

• Total Cyber Week globally: $314.9B

The most fascinating part was how people shopped. Mobile dominated—around 60% of all online sales, representing $7.6 billion in spending. This is a huge shift from just a few years ago: In 2019, only 33% of Cyber Monday sales were on mobile devices!

Social commerce also made its mark this year, with platforms like TikTok Shop and Instagram driving about 19% of Cyber Week sales for the retailers who used them. It's becoming a serious sales channel.

Plus:

• BNPL (Buy Now Pay Later) usage hit an all-time high on Cyber Monday, driving $991.2 million in spend.

• The share of units sold for higher-priced items increased by 28% across categories.

• Generative AI-powered chatbots saw a 1,950% YoY increase in traffic to retail sites on Cyber Monday and AI influenced $60 billion in sales during Cyber Week.

While promos drove most sales this BFCM season, one DTC brand took an alternative approach: offering—and heavily publicizing—their no sales ever policy. We spoke with Earthfoam about their promo-free BFCM, their reasoning and strategy behind it, and how it played out. Check out our newest Express Checkout article here!

CPG & Consumer Goods

• Banana pudding at 35,000 feet. United Airlines partnered with Magnolia Bakery to offer its frozen banana pudding on select flights. The dessert will be served in individual cups in United First, marking the first time Magnolia's treats are available on an airline. This initiative is part of Magnolia's broader CPG strategy to expand beyond NYC, which has included launching their frozen banana pudding DoorDash, Wonder, Amazon Fresh, GoPuff, United Airlines, and in airports in partnership with OTG and WHSmith.

• Trouble in paradise. Shaka Tea announced it’s shutting down due to economic and technical challenges. The tea will remain available in stores and online for the next few months while they wind everything else down.

  • This was definitely surprising considering they were acquired by King's Hawaiian in early 2022.

• A “mazel tov” is in order. Manischewitz announced a NIL partnership with Jake Retzlaff, BYU's first Jewish quarterback. They plan to produce a limited edition matzo box featuring Retzlaff.

  • I’ve never seen a better, and more timely, partnership between a brand and an athlete in my life.

like come on, this is great

• Claire's is back. Claire’s—AKA the place where you begged to get your ears pierced by an underage associate—is back and targeting Gen Alpha with its new beauty line called C by Claire’s. The products include fragrances and body care.

• Taking advantage of the K-Wave. Asno, a 100% vegan Korean skincare brand, launched in the U.S. on Amazon.

• The brand that taught us that shower water is a skincare product, Jolie, partnered with Ulta Beauty—marking its largest retail collaboration to date within Ulta's wellness merchandising concept. The company is set to surpass $100 million in sales by 2027. Insane!

• …aaaand another Ulta partnership. Skincare brand Tatcha is expanding its U.S. presence by partnering with Ulta Beauty to offer its core assortment of skincare products online and an expanded selection starting January 1.

• Movement in the world of vodka.

  • Constellation Brands is divesting its SVEDKA brand to Sazerac as part of its strategy to focus on higher-end wine and spirits.

  • Stoli Group's US unit filed for Chapter 11 bankruptcy, citing over $100 million in assets and $50 million to $100 million in liabilities.

• Daddy gang is about to be SO hydrated 💦. Alex Cooper, host of Call Her Daddy, is launching her first product, Unwell Hydration, a hydration beverage targeted at women, which she believes fills a gap in a market dominated by more male-oriented drinks. The product will be available exclusively at Target starting January 1, 2025.

  • There are definitely mixed feelings online—and especially how she went about launching it—but I’m honestly indifferent about this launch. I think it has some legs, though I do wish they went for cans over bottles.

• An icon reportedly up for $$$. Spindrift is apparently in talks to be acquired by Gryphon Investors for over $650 million. The brand has experienced significant growth, achieving ~$270 million in sales over the past year.

eCommerce

• This man does it all 🥦! Snoop Dogg launched SWED.com, a DTC cannabis lifestyle marketplace offering a curated selection of hemp-derived products, accessories, and exclusive merchandise. This new venture follows the opening of S.W.E.D. dispensaries in Los Angeles and Amsterdam.

• AI product development. Alibaba International launched "Pic Copilot," an AI-powered ecomm design tool. The tool offers various features, including virtual try-ons and customizable graphic templates.

  • Seems like they took this right from Pietra’s AI tools, though Pietra offers more right now. You can even visualize a product from a description.

Retail

• Dollar General is making moves! They are opening 575 new stores and remodel 4,250 others in 2025, while at the same time testing same-day delivery in 75 locations. Dollar General is also rolling out fresh produce to its stores, planning to add it to 300 more locations in 2025, bringing the total to around 7,000.

• A new era of skiwear. Women-owned ski brand Halfdays is opening its first permanent store in Denver, Colorado.

• We love seeing the good ones win. Wegmans is set to open three new stores in 2025, located in Lake Grove, New York; Norwalk, Connecticut; and Rockville, Maryland.

• She’s really back. Foxtrot Café & Market is reopening its River North store in Chicago on Thursday after closing all locations in the spring. The urban c-store chain is now focusing on small local vendors.

• The new clout-chasing uniform. Erewhon launched an exclusive (and very overpriced) Winter '24 apparel collection for the holiday season, featuring items like hoodies, sweatpants, and even a washable reusable bag that looks like their paper bags.

• Cue: “Let’s Go to The Mall”. Simon properties reported a 6.4% year-over-year increase in traffic across its portfolio during the Black Friday weekend, with a notable 7.1% gain at its malls nationwide.

• That's a staggering amount of returns. Retail returns are projected to total $890 billion in 2024, with 16.9% of annual sales expected to be returned. Major retailers like REI, Target, and Asos are taking notice and action. They’re implementing targeted crackdowns on return abuse while trying to maintain customer-friendly policies for the majority of shoppers.

Supply Chain

• Full price, no delivery. Amazon was sued for allegedly deceiving approximately 48,000 Prime members in two DC ZIP codes by excluding them from its advertised fastest delivery services, while continuing to charge them the full subscription price.

• What happens when even the big guys are struggling? UNFI, a major wholesaler and grocery distributor, plans to lay off 121 employees at its Lincoln, Rhode Island office as part of a cost-cutting initiative while relocating its headquarters to Providence. The layoffs, effective January 24, 2025, are part of a multi-year effort to improve financial performance and efficiency.

• More beer for all. Anheuser-Busch is investing $10 million in its Jacksonville brewery, which has been operational since 1969. This investment is part of a broader commitment, with AB having invested nearly $2 billion in its U. breweries over the past 5 years.

Funding news

• Keep your best customers close. rediem, a loyalty software company, raised $1.2 million in a pre-seed funding round to onboard a waitlist of 500+ brands to its platform. The company aims to transform traditional rewards programs with its AI-powered SaaS solution.

• Making chocolate more sustainable 🍫

  • Planet A Foods raised $30 million in Series B funding to scale the production of ChoViva, a cocoa-free chocolate alternative that significantly reduces environmental impact.

  • The startup Celleste Bio secured $4.5 million in seed funding from Mondelez's SnackFutures Ventures and other investors to enhance its research and development of cell-cultured cocoa.

• TreeHouse Foods, Inc. acquired Harris Tea, a leading private brand tea manufacturer in the U.S., for approximately $205 million.

• The future of eggs is chicken-free. The Every Company received a $2 million grant from the US Department of Defense to establish a precision fermentation facility in the US. Currently, they produce two main fermentation-derived ingredients: OvoBoost and OvoPro which functions as an egg and egg white replacement.

See ya next week,

Nate + Jenna :)

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Hello hello and happy Cyber Monday!

I hope all of your Black Friday’s went swimmingly for everyone

It’s been a quiet week in the world of CPG, everyone is heads down making sure their site doesn’t shut down from all the Black Friday traffic. Or they’ve been watching Wicked, who’s to say.

I’ll be seeing some of you NOSH Live the end of this week! If you’re going to be in town let me know, would love to say hi!

Did your Black Friday go as expected? Time to supercharge your CPG strategy!

Top food & beverage brands trust Schaefer to identify & reach their ideal customers

🔍 Uncover hidden market opportunities – deep dive into consumer behavior

📊 Make data-backed decisions – leverage comprehensive market analysis

🏆 Collaborate with industry veterans – tap into senior-level expertise

💡 Craft winning strategies – turn insights into actionable go-to-market plans

Elevate your brand with research-powered growth!

Scale smarter, faster, stronger with Schaefer.

News From the Week

Nothing crazy happened this week, but you know what just happened? Our first gift guide dropped.

This one is for the person on your list who is nothing but practical (we all have one). Some of my all-time favorite products landed here, so check it out! I’ll be dropping more this week—keep an eye out 👀

CPG & Consumer Goods

• The battle of Big Brand vs. dupe culture. This Spring, Williams-Sonoma Inc. (WSI), which owns the Pottery Barn and West Elm brands, filed a lawsuit against Dupe.com (a furniture price comparison site) alleging false advertising and copyright claims. Now, Dupe.com is firing back, arguing that the lawsuit is merely an attempt to suppress consumer transparency. While it may seem like a petty legal battle, this is all part of a larger trend of dupe culture:

  • TikTok has seriously amplified the dupe trend. The hashtag #dupe garnered 6.3 billion views in 2023, with users seeking affordable alternatives to high-end brands like SKIMS and Lululemon.

  • The philosophical Q at hand: In a battle of consumer demand for affordable products (often produced unsustainably) vs. IP protection for established brands, who’s really “right”?

• PSL? Out. PBL? In. This month, French Squirrel and Willa’s Oatmilk are collaborating with Erewhon to offer a limited-time Peanut Butter Latte throughout December. The drink features French Squirrel’s Beurre, organic date peanut butter, and Willa's amazing Oatmilk, made with clean ingredients and no artificial additives.

  • But what’s really special about this latte? Sydney Karmes-Wainer, the Founder and CEO of French Squirrel, was Erewhon’s Brand Manager for four years—the right-hand woman to the VP, from foraging and onboarding new food products to brand partnerships for smoothie ingredients and celebrity creators.

  • Erewhon typically doesn’t partner with two brands simultaneously on a specialty drink, especially without a celeb in sight. But these two female-founded brands share Erewhon’s commitment to clean, high-quality ingredients—making it the perfect exception.

  • If you’re thinking: WTF is a peanut butter latte? You obviously don’t spend all of your waking hours on the internet (embarrassing). PB lattes went viral this year, and thanks to Erewhon’s fast ops, these brands were able to capitalize on the trend.

eCommerce

• Get your lotto ticket online…or with a slushee. Jackpot.com, an online lottery service, announced an exclusive collaboration with 7-Eleven, Inc. to become its official lottery courier service. Customers will be able to buy lottery tickets through the Jackpot.com app or website at over 600 participating stores.

Retail

• The Spanish discover America again. Spanish retailer Mango plans to open 60 new stores in the U.S. over the next two years as part of a $70 million expansion strategy aimed at repositioning the brand as a premium label. This expansion includes a logistics center outside LA.

  • Many Euro retailers currently have their sights set on the US—think Primark, Zara, Intimissimi, IKEA.

Funding news

• Protein Brand acquired. Paine Schwartz Partners, owners of famous juice brand Suja Life, acquired Promix—a brand focused on protein mixes and supplements.

Shout out to my friend Hugh for sending his new brand, Cuddle Sleep. It’s basically a sleepy hot cocoa! I had some last night and slept like a freaking baby. Throw a little milk in there and you are golden! 💤 

The fine folks at ¡Ya Oaxaca! sent me their full line up! The brand was started by award-winning Executive Chef of 35 years, Author, and PBS TV Host, Susana Trilling! I’ll never say no to some mole.

Say hello to the newest flavor from Summerfall Sake, Yuzu!! They sent over a lovely care package with a yuzu face mask and some dried candied yuzu to match. Their normal flavor is amazing and so is this!

See ya next week,

Nate + Jenna :)

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Hello hello! And happy almost Thanksgiving! 🦃 

I’m going to Nosh Live December 5-6th! If you’re going to be in town let me know, would love to say hi!

Nosh is an incredible opportunity for food brand founders and operators to meet with retailers, distributors, investors, and industry partners! Here is a discount to save $500 per ticket! I hope to see you there!

Also congrats to my friend Maya Ayed on the launch of her product, Alya! It’s a shot of the most amazing olive oil! I can hear Bryan Johnson drooling under his red light therapy cap.

You can't afford for your go-to-market approach to flop with consumers by talking past them when they're trying to make decisions about whether to try or buy your product.

Top food & beverage brands like Straus Family Creamery, Stampede, and Château Gâteaux have been able to reach their ideal customers and increase their confidence about new strategies by working with us.

💛 Start with why – understand motivations and not just customer behaviors

🤑 Reduce your CAC / CPA - by nailing your messaging and marketing campaigns

💬 Identify and talk with your ideal customers at wholesale research costs

🏅 Work with senior-level talent only – no juniors

Don't get stuck in CPG hell!

Target the rigth customers!

News From the Week

AI isn't just writing your emails anymore—it's about to be your personal shopper, customer service rep, and deal hunter all rolled into one. And with Cyber Week approaching, we're getting our first real look at just how massive this shift is going to be.

This week, Perplexity (think: ChatGPT meets Google) launched a shopping feature that allows US subscribers to search for products and buy them without leaving their search results—no more jumping between Google and Amazon. They're promising "unbiased" recommendations without sponsored slots (we'll see how long that lasts), and they're betting big on changing how we discover products online. This thread highlights how AI-powered search is already disrupting traditional SEO practices.

Tech giants and retailers are also racing to leverage AI’s potential:

• Amazon introduced tools like a shopping assistant and AI-powered image generation, enhancing how users discover and visualize products.

• Google revamped its Shopping platform with Gemini models, featuring AI-generated briefs and personalized recommendations.

• JCPenney, in partnership with Revieve, uses AI beauty advisors to engage customers and boost conversions.

Behind the scenes, AI is becoming essential for brands of all sizes.

• Customer service: Tools like Siena AI handle thousands of inquiries simultaneously, maintaining conversational context and resolving issues faster.

• Personalized recs: Platforms like Big Sur AI analyze customer behavior, offering precise product suggestions to enhance conversions.

• Inventory management: AI-powered systems like Treater and Glimpse predict stock needs, optimize logistics, and reduce overstock or shortages.

• Marketing: Tools like Klaviyo, Triple Whale, and Archive are driving hyper-personalized email campaigns, social media content creation, and even ad placements.

And the numbers speak for themselves. According to new Salesforce data, AI will influence $61 billion in global sales during Cyber Week alone—19% of all orders. Since October, retailers using AI have seen their average order values jump 7% ($117 vs. $109) compared to those without it. Translation? AI is literally making people spend more money.

The future of retail isn't coming—it's already here, and it's powered by AI. Whether retailers are ready or not, the holiday shopping season is about to show us just how much AI has changed the game.

CPG & Consumer Goods

• Oat with the old, in with the new. MUSH, the brand known for its ready-to-eat overnight oats expanded its product line by introducing a 3-SKU line of protein bars in Peanut Butter Chocolate Chip, Double Chocolate Chip, and Maple Cinnamon flavors featuring 15g of protein.

  • Jenna’s thoughts: I know what you’re thinking: another protein bar?! But these bars can be found in the refrigerated section—a smart strategy for the fridge-native brand. Instead of trying to push its customers to the highly competitive shelf-stable bar aisle, MUSH is expanding its facings where the brand is already known + trusted.

• Going all in on hummus. PepsiCo announced its acquisition of the remaining 50% interest in Sabra hummus and Obela—both of which were 50/50 ventures formed between PepsiCo and Strauss Group.

• San Pellegrino or bust. Nestlé plans to spin off its water and premium beverages business into a standalone unit starting next year. The new entity will be based in Paris.

• The weight loss products keep coming. Adding onto its existing weight loss supplements, Hims & Hers is now offering meal replacement bars and shakes. The products are developed by registered dietitians to complement personalized weight management plans—and are delivered straight to your door.

eCommerce

• AI on your face. JCPenney partnered with Revieve, a AI-powered digital beauty tool, to create an interactive beauty shopping journey.

• Deck the FYP. A recent survey by MGH reveals that over half of TikTok users have found holiday gift ideas on the platform, with 39% actively searching for them. TikTok's role in e-commerce is expected to grow, especially during the upcoming Cyber Week.

  • Some of my friends created some epic gift guides on TikTok - Katie Stone, Pyone, Kristiana (she didn’t put it on TikTok but I love her TikTok)

• Just in time for last minute holiday shopping…Google launched three key updates to its shopping section:

  • A new in-store Google Lens feature that provides product insights and reviews tailored to specific stores you're in, powered by AI and the Shopping Graph's 45B+ product listings

  • Product search capability in Google Maps to help find items at nearby stores

  • Expanded Google Pay features including new buy-now-pay-later options and virtual card protection with additional partners

Retail

• The Mug comes to Brooklyn. East Fork, an Asheville-based pottery brand, has opened its first permanent store in Brooklyn, marking its 3rd brick-and-mortar location. The store features a range of pottery along with curated home goods, while also emphasizing community engagement through events and workshops.

• Beis better watch out! Luggage brand Calpak opened its first permanent store in LA’s Century City Mall, after successful pop-up experiences. The move reflects a broader trend among DTC brands recognizing the value of quaility in-person shopping, especially among younger consumers.

• Grocery to C-Store. Gelson's opened its first convenience store, ReCharge by Gelson's, in Santa Ana, California, co-located with an electric vehicle charging hub. The store combines traditional convenience store offerings with elements of Gelson's grocery stores, featuring bigger aisles and a selection of fresh food options.

  • Convenience stores have shown remarkable resilience with increasing customer visits, particularly among higher-income shoppers, with channel buyers growing by 2.2% and trips up by 1.1% year-over-year.

  • Regional chains are aggressively expanding into new territories, with companies like Wawa and Buc-ee's moving into new states, while others are modernizing their offerings with enhanced food service options and digital ordering capabilities.

  • We’re also seeing strong consumer engagement, as demonstrated by promotional events like 7-Eleven's Slurpee Day, which drove 127.3% increase in store visits compared to daily averages.

• Retail Media networks are no joke. Walmart's advertising business has become a significant revenue source, contributing almost a third of its $6.7 billion operating income, with year-over-year growth of 28%. The company’s strategy includes leveraging its retail media network, Walmart Connect, and third-party marketplace to enhance visibility for sellers.

• I hope she sang Genie in a Bottle. H&M celebrated the reopening of its Times Square flagship store in New York City, which first opened 25 years ago, with a ribbon-cutting ceremony featuring Christina Aguilera. The redesigned space emphasizes customer experience with immersive fitting rooms.

Supply Chain

• Do NOT mess with Guy Fieiri. 🔥 His brand, Santo Tequila, lost approximately $1 million worth of tequila when two trucks carrying 4,040 cases were stolen after crossing the US-Mexico border. Guy is offering a $10,000 reward for information leading to the recovery of the trucks.

  • No, we are not laughing at this misfortune. We are definitely not laughing.

Funding news

• House of brand giant adds to portfolio. Helen of Troy Limited, owner of brands like OXO, Hydro Flask, Vicks, and Braun, acquired Olive & June, a nail care brand, for $225 million in cash plus an additional $15 million earnout based on performance.

  • Drew Fallon, founder of Iris Financial, shares a great breakdown of the deal.

• From DTC darling to Sephora star. Crown Affair, a buzzy clean haircare brand, raised a $9 million Series B funding round led by True Beauty Ventures.

  • The brand started DTC in 2020 and expanded to ~200 Sephora doors by 2022—a strategic move that’s putting the brand on track for $20M in revenue this year (up from $8M in 2023) with an even split between DTC and retail.

  • What's next? More treatment & styling products, plus a stacked team (they just nabbed Sephora's former hair merchandising director)

• Your smart ring is getting smarter. Oura secured a $75 million Series D investment and announced a partnership with Dexcom to enhance its metabolic health offerings.

• Traditional medicine 🤝 modern money. Apothékary, a Japanese-inspired plant medicine brand, raised $8 million in a pre-Series A round, including a strategic investment from Shiseido. The funding coincides with the brand's launch on Ulta Beauty's website.

  • Founded in 2020, Apothékary aims for 40% growth this year, targeting $30 million in revenue.

• Betting on affiliate. Levanta, an affiliate marketing platform for Amazon sellers, raised $20M in Series A funding led by Volition Capital.

• One of my favorite canned drinks! Bawi, an Austin-based agua fresca maker, has raised $3.5 million in a seed round led by Brand Foundry.

• Find your next co-man. Keychain, a New York-based platform for connecting CPG companies with manufacturing partners, has raised $15 million in Series A funding. The platform provides a search and discovery tool for co-manufacturers, leveraging AI to match products with suitable manufacturers.

• Big money, small towels. Clean Skin Club raised $32 million in funding from Astō Consumer Partners and Amberstone, positioning itself to exceed $100 million in sales for 2024.

  • The brand specializes in single-use face towels and is on track for projected sales of $107 million this year.

• The fancy strawberry goes global. Oishii, a vertical farming company known for it’s fancy-ass (for lack of better term) strawberries and tomatoes, raised an additional $150 million in Series B funding led by Resilience Reserve and Miyako Capital. The funds will support the company's first international expansion with a new facility in Tokyo.

Weekly Pickups

My favorite sauce I have a hard time pronouncing is now available in a bottle! So Shuug is a bottled version of Zhoug, an incredible spicy cilantro sauce that you’ve probably had at Cava. And yes this is AMAZING on pizza.

Jenna’s latest obsession: FUJI Bars. These super high-protein (22g!) Asian-inspired bars have been my go-to after a morning workout. The matcha flavor seriously hits the mark with the just-right, lightly sweet green tea flavor sans bitterness.

FUJI made it all the way to FL last weekend (couldn’t even wait to take the pic before tearing it open 🙃 )

See ya next week,

Nate + Jenna :)

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If you are enjoying my newsletter please share with anyone you think would benefit from it! 🙏

Every year, heritage months (like Black History Month in February and AAPI Heritage Month in May) recognize the contributions and influence of minority communities in the US. But—like any recognition effort—these months are only as powerful as the conversation surrounding them. And in the past few years, Latinx-led brands watched as the buzz backing Hispanic Heritage Month (September 15 - October 15) softened to a whisper.

The once-prevalent shopping roundups and affiliate link-driven content that boosted brand visibility saw a notable decline. In response, innovative brands like Cafe Aroma and SOMOS took matters into their own hands—moving away from reliance on third-party content and towards brand-owned initiatives. Let’s dig into it →

The Changing Media Landscape

Recently, publishers have begun to move towards affiliate strategies to drive revenue—earning a commission when readers purchase products through links in their content. For CPG brands, this has traditionally meant inclusion in shopping roundups and product recommendation articles, with publishers earning a percentage of each sale—usually between 5-15% for food and beverage products.

However, publishers have increasingly been decoupling heritage and affiliate links—focusing their affiliate content on broader consumer categories like "best hot sauces" or "top shelf-stable meals" rather than heritage-specific roundups. This shift reflects both changing SEO strategies and evolving consumer shopping behavior.

Miguel Leal, Co-Founder and CEO of SOMOS, also sees this shift as a reflection of evolving consumer behavior: “Ultimately, I believe the trend of decreasing affiliate links [during heritage months] is just pointing us toward how people actually search for and purchase our products,” he shares. Consumers are increasingly searching for the best products in a category, looking for great-tasting global food products year-round rather than during specific cultural moments.

Making Their Own Noise

This insight has led both SOMOS and Cafe Aroma to pivot their marketing strategies toward building authentic connections through direct consumer engagement and strategic partnerships.

• Cafe Aroma exemplified this approach by hosting a Hispanic Heritage Month kick-off event in Miami's Domino Park, a historic gathering place for the Cuban community. "We served up espressos, and gave away product and merch. Connecting with our community (over 100 people came by to sip cafecitos and connect) in person was wonderful," Bernadette Gerrity, VP of Marketing at Cafe Aroma, explains.

• SOMOS, meanwhile, has leveraged its growing social media presence to build meaningful partnerships with other Hispanic-owned and -led brands. Their collaborations span established brands like Jarritos and Avocados from Mexico and Loisa, Tia Lupita, and Toast It Foods, expanding their reach and creating engaging content that celebrates their shared heritage—the real root of Hispanic Heritage Month.

Whether through in-person gatherings or digital collaborations, they're showing how their products fit naturally into people's daily lives, from quick weeknight dinners to weekend gatherings—all while keeping their heritage at the core of their brand identity.

Heritage as Business Strategy

For these brands, heritage isn't just a monthly marketing moment—it's fundamental to their year-round business strategy. "Being dynamic is important year round, especially for a heritage brand like Cafe Aroma," Gerrity emphasizes. "We celebrate our legacy and focus on new opportunities. We use our social channels to share family photos, recipes, and traditions around holidays, like Father's Day and Christmas coming up."

SOMOS takes a similarly comprehensive approach. "For SOMOS, we keep heritage at the forefront of our marketing," Leal explains. "That translates to our social channels, where you'll find fun content like our recent 'Mexican Moms Try Mexican Chili Crisp' video, spotlights on our Mexico-based team members, and recipes inspired by the meals my co-founders and I grew up eating in Mexico." He emphasizes the importance of infusing heritage into every aspect of business operations: "There is an opportunity to infuse your heritage into every aspect of your business, from sourcing to storytelling, and I believe a multi-layered approach is what will ultimately captivate consumers."

A New Era of Authentic Storytelling

As the CPG media landscape continues to evolve, these brands are leading the way in redefining how cultural heritage is represented in the industry. "I envision that one day, there will be much more fluidity in the way that brands lean into their heritage and story," Leal shares. "I hope that we'll see heritage amplified more loudly across all marketing channels, not only during 'Heritage Months' but instead with consistency, year-round.

This shift represents more than just a change in marketing strategy—it's a fundamental reimagining of how heritage-led brands can authentically connect with consumers while staying true to their roots. As Gerrity advises, "stay true to your north star and create what your core customer is looking for—other curious consumers will find you along the way."

Through community events, strategic partnerships, and authentic storytelling, brands like SOMOS and Cafe Aroma are creating a blueprint for how heritage-led CPG companies can thrive in today's market while maintaining their cultural authenticity. Their success suggests that the future of cultural heritage marketing lies not in isolated campaigns or media moments, but in consistent, authentic engagement that celebrates heritage as an integral part of brand identity.

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