April 1st — June 30th, 2023
CPG Wire is back for the second installment of our quarterly industry report with a slew of updates following an eventful quarter for the consumer products industry. We’ve been following along as brands secured fresh funding, collaborated with each other, launched behind new doors, released new products, and exited the space.
Of course, brands aren’t the only groups making exciting announcements in consumer. The fundraising landscape has made strides with several investment groups and individuals raising new funds looking for emerging brands in a number of consumer categories. In this Q2 update, we’re getting into all the major brand and investor moves from the past three months.
Consumer Product Trends
Beauty
Following the wake of Supergoop, a new wave of suncare brands is disrupting the category. Also, a new generation of founders are bringing energy to a sleepy category by focusing on adventurous fragrances, novel experiences, and ingredient transparency.
New Wave Suncare care in the news…
- Bubble Skincare expands into suncare with two new SPF products.
- Dune Suncare launches at 550 Ulta Beauty stores.
- Vacation Inc closes $6MM in Series A funding from Silas Capital.
- Vacation Inc launches in over 1,200 Ulta Beauty stores.
- doTerra expands into suncare.
- B.A.I. Biosciences launches advanced suncare brand Pavise.
- BeautyStat launches hero product Universal C Skin Refiner with SPF 50 marking its official expansion into suncare.
- Rite Aid has launched RYSHI, a new line of clean beauty and personal care essentials from razors to sunscreen.
- Sofia Vergara debuts suncare brand Toty.
The Fragrance Frenzy in the news…
- Luxury fragrance brand Vyrao scores minority investment from Estee Lauder’s venture arm, New Incubation Ventures.
- Juliette Has a Gun — a French fragrance brand founded by Romano Ricci in 2006 — secured additional funding from existing investor Cathay Capital. Weinberg Capital Partners also participated.
- Ceremonia expands into fragrances with the launch of Perfume de la Tierra.
- Fable Investments Raises Its Stake in Perfumer H.
- Henry Rose secures Series A funding from Sandbridge Capital.
- Advent International acquires Parfums de Marly and Initio Parfums Prives.
- Kering acquires 100% of heritage fragrance brand Creed from BlackRock & Javier Ferran.
- Jones Road Beauty announces the launch of first fragrance product.
Health & Wellness
Ingredient traceability, personalization, and premiumization continue to dominate headlines in the supplement space.
Supplements & Vitamins flavors in the news…
- Sourse enters Sephora nationwide.
- Sourse raised $2.4MM in Seed funding from New Theory Ventures, H Ventures, JAWS Ventures, Satori Capital, Short List Capital, Harlo Capital and LDR Ventures.
- Ritual launches into Target.
- Gainful expands into wholesale by launching nationwide into Target.
- Care/of launches at Sam’s Club.
- Lemme by Kourtney Kardashian Barker launches nationwide at Ulta Beauty.
- Thesis, raised $8.5MM from Unilever Ventures.
- Beekeeper’s Naturals closed $14MM funding round co-led by Devonshire Partners & Cavu Consumer Partners.
Celebrities in Consumer
Athletes continue to transition from spokesperson to shareholder, decision maker, and brand owner. In fact, many are joining other business-savy stars by pouring into the spirits space and vying to create the next Casamigos, but will lightning strike the same spot twice?
Athletes in the news…
- PRIME reveals Israel Adesanya and Alex Volkanovski as the brand’s first official athletes.
- Andrew Steele and Greg Rutherford acquire Aila.
- Tracksmith brings on Mary Cain & Nick Willis as full-time marketing employees.
- Just Egg collaborates with DeAndre Jordan.
- Buoy receives $2.5MM investment from Chris Paul.
- Will Perform by Serena Williams heads into Walmart.
- Kyle Kuzma’s Barcode is named Sports Academy’s official drink partner.
- Aaron Rogers Venture Firm RX3 Ventures raised $150MM for fund II.
- Sebastian Vettel invsets in BACX.
- Steph Curry announces new bourbon brand, Gentleman’s Cut.
- Maria Sharapova invests in Wolf & Shepherd.
- Derek Jeter joins Meati Foods’ latest round of financing.
- Jaren Jackson JR to launch Block Panther Energy Gummies.
Celebrity spirits in the news
- Margot Robbie launches Papa Salt gin as an ode to the laid-back Australian lifestyle.
- Brad Pitt announces plans to launch new spirits brand, The Gardener Gin.
- Emma Watson and her brother Alex team up on new brand, Renais Gin, made from upcycled wine grapes.
- Steph Curry debuts bourbon brand, Gentleman’s Cut which will soon be available globally.
- Nelly enters the spirits industry with new moonshine brind, MoShine.
- Jennifer Lopez debuts RTD cocktail & spritz brand, Delola.
- Blake Lively’s Betty Buzz breaks into RTD cocktails, Betty Booze.
Fundraising Landscape
There’s light at the end of the tunnel for brands seeking to raise equity as consumer-focused investors close new funds and look for the breakout businesses in beauty, health & wellness, food & beverage, and more.
New funds in the news…
- Pronghorn announces $200MM fund to invest in black-owned spirits brands.
- Aaron Rogers Venture Firm RX3 Ventures raises $150MM for fund II.
- Melitas Ventures is raising $120MM for their third fund.
- Gwyneth Paltrow is raising $75MM for her debut venture fund, Kinship Ventures, which seeks to invest in early-stage consumer goods and technology companies.
- Big Idea Ventures raises initial funds for its $75MM New Protein Fund II.
- Bullish raises $50MM for its second fund.
- The Family Fund (aka F3C) announces $25MM in new capital commitments to co-invest in late-seed and Series A brands.
- Selva Ventures closes its second fund, raising $34 million.
- Sugar Capital raises $33MM to invest in retail tech.
- Sarah and Erin Foster launch new consumer venture fund, Oversubscribed Ventures.
