Anta Buys Maia Active, Alo Goes Luxury 👑

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CPG WIRE
October 21, 2023

Welcome back to This Week in CPG, folks. We have a lot to cover this morning so here’s a quick preview:

  • Francisco Costa submits bid 🤑

  • Puig confirms IPO aspirations 🔔

  • Guest In Residence opens store 🆕

  • Poppi x InnBeauty collab 🫦

  • Brunello raises guidance (again) 📈

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Deals 💰

Mergers & Acquisitions 

  • Chinese sportswear giant Anta purchased a majority stake in Maia Active, a Shanghai-based premium activewear brand that launched in 2016. Maia is considered China’s homegrown answer to Lululemon. Terms of the deal weren’t disclosed. Anta has been busy lately. Another Anta subsidiary, Amer Sports, filed for a possible $10B IPO. Jing Daily

  • Francisco Costa, the founder of eco-conscious beauty brand Costa Brazil, has submitted a $350K bid to acquire the brand from now-bankrupt parent company Amyris. Costa founded the brand in 2018 and sold it to Amyris in 2021. Amyris has a few other desirable brands in its portfolio like Biossance, Pipette, and Stripes. Curious who buys ‘em. Business of Fashion

  • Puig, the Spanish beauty firm that’s expected to surpass 4B EUR in sales this year, confirmed its interest in an IPO. Puig owns a number of fast-growing beauty brands like Byredo, Charlotte Tilbury, and Kama Ayurveda. Financial Times 

Fundraising

  • I Am Company, an Australian food manufacturer behind the fast-growing Yog’n Oats and Yogoletti brands, raised nearly $650K on crowdfunding platform Birchal. The company retails at Aldi, Coles, and Woolworths and sell 75,000+ units per week. Good-looking products ⬇️ Birchal

  • Amatera, a Paris-based biotech startup that’s using in vitro breeding to produce climate-resistant versions of coffee and other perennial crops, closed a €1.5M round led by PINC, the venture arm of Paulig Group. Other investors include Agfunder, Joyance Partners, and Exceptional Ventures. Tech EU

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What’s New 🤩

Apparel, Cosmetics, and Wellness

  • InnBeauty Project collaborated with prebiotic soda brand Poppi to launch some limited-edition, soda-inspired lip oils. Also it looks like Poppi will be launching a seasonal flavor with Cranberry Fizz. Very, very fun ⬇️ WWD

  • Guest In Residence, the luxury cashmere brand founded by Gigi Hadid, opened their first-ever retail store. The store is located in New York’s NoHo neighborhood. WWD

  • Popular YouTuber Claudia Sulewski launched a sustainable bodycare brand called CYKLAR. Only one product, The Body Cream, is available, but they’re launching a body wash soon. PR Newswire

  • Alo Yoga is pushing further upmarket with the launch of Alo Atelier, their new line of luxury couture. The new collection features cashmere and silk with prices ranging from $248 all the way to $1,900 ⬇️ Glossy

Food, Beverage, and Alcohol

  • Australian Vintage, a publicly traded Aussie wine firm, launched a new prosecco spritzer line called Tempus One in hopes of connecting with younger consumers. The branding is a rather blatant ripoff of Kin Euphorics ⬇️ Drinks Trade

  • DEUX and Chamberlain Coffee opened a pop-up at La La Land Cafe in Los Angeles to celebrate the launch of their collaboration — Cinnamon Sugar Donut Holes. The pop-up is open all weekend. Twitter

  • Hershey is breaking into frozen confectionery with the launch of its candy-coated frozen fruit line. It’s basically Tru Fru, which Mars acquired in late 2022, without the better-for-you credentials ⬇️ Twitter

  • LA-based Italian restaurant Ggiata introduced a line of craft sodas. Available at all three locations. Very fun ⬇️ Instagram

Data 🖥️

  • Italian luxury brand Brunello Cucinelli raised its 2023 sales guidance again. Sales from January thru September were up 27.5% to $865.5M. FY sales growth expected to land in the range of 20-22%. Reuters

  • Other luxury brands, namely Canada Goose and Ferragamo, have been getting decimated as investors cool on the sector. Bloomberg

  • Glossier is on track to generate $100M of sales at Sephora this year. Glossier is back, baby. WWD

Distribution News 🚚