Decree Skincare Scores Funding, Myna Snacks Launches 🍪

Welcome back to This Week in CPG, folks. Hope y’all had a good weekend and a productive Monday.

Here’s what we’re getting into today:

• Decree closes round 💰

• General Atlantic buys Joe & the Juice 🥕

• Twitch streamer launches snack brand 🍪

• MingsBings refreshes packaging 🆕

• OLIPOP surges 📈

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Decree Skincare Scores Funding 💰

Doctor-led skincare brand Decree secured an undisclosed amount of funding from a number of influential angel investors. The round was led by Natalia Vodianova — a model and an investor in companies like Flo and skincare unicorn Augustinus Bader — with participation from her business partner, Timon Afinsky, and art dealer Harry Blaine. Vodianova will also join the board and actively promote the brand as an ambassador. 

Founded in London in 2019, Decree is the brainchild of Dr. Anita Sturnham, a General Practitioner specializing in dermatology who also operates an aesthetic clinic in London. 

Decree differentiates from the competition by focusing on clean, clinically efficacious ingredients while offering consumers a simple and fairly straightforward skincare routine. Decree’s products are nearly organized into categories: AM, PM, daily, and weekly.

Per Vodianova, “I was taken with the simplicity but effectiveness of Decree. In a landscape that’s overcrowded with products, I’ve been impressed with the results I’ve seen using Decree and following their formula – less is more.”

Decree’s pricing really spans the spectrum. Their AM Light Cleanse and PM Deep Cleanse retail for $22 and $24, respectively, while their AM + PM Preparatory Mist retails for $63, and their PM Treat Tincture costs $163. 

In addition to their direct-to-consumer business, Decree has a burgeoning retail presence. Their retail partners include Cult Beauty, Farfetch, Harrods, Saks Fifth Avenue, and Galeries Lafayette.

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Deals 💰

Mergers & Acquisitions 

• U.S. private equity firm General Atlantic has acquired a majority stake in Joe & the Juice, a fast-growing chain of juice shops that originated in Copenhagen, but now has more than 360 stores across the globe. General Atlantic first became involved with the brand through a minority investment in 2016. The transaction is expected to close in Q4. Terms weren’t disclosed. Financial Times

• American clothing manufacturer PVH Corp. is selling three brands — True & Co., Olga, and Warners — to another American clothing company, Basic Resources. The all-cash purchase price is $160M plus a possible $10M earnout based on 2024 net sales. PVH is divesting the brands in order to focus on Calvin Klein and Tommy Hilfiger. Fashion United

Fundraising

• Fody Foods, a Montreal-based producer of low FODMAP condiments, sauces, salad dressings, etc., secured an undisclosed amount of Series B funding. The company described it as a “significant” investment. In the U.S. you can find Fody Foods at Albertsons, H-E-B, Walmart, and Whole Foods Market. NOSH

What’s New 🤩

Apparel, Cosmetics, and Wellness

• Alexander Werz, a luxury PR guru and the co-CEO of Karla Otto, will launch a new skincare and wellness brand called AWvi early next year. AWvi’s debut line will be The Skin Method, a science-backed, holistic skincare regime 🔽 WWD 

• Gen Z skincare brand Bubble launched Morning Rays, their first-ever eye cream. The product retails for $16 and brightens, de-puffs, and reduces dark circles. Bubble

• Fast-fashion brand Cider officially opened its holiday pop-up in NYC. Cider, which is backed by Andreessen Horowitz, launched in 2020 and by 2022 had racked up over 7 million app downloads. Good-looking store 🔽 Instagram

Food, Beverage, and Alcohol

• Energy drink brand Juvee has expanded beyond energy with their new hydration line. Two Juvee Hydration flavors are available — Kiwi Strawberry and Blue Raspberry — along with a variety pack. I like this move for a number of reasons. First, the margins on effervescent products are typically enormous. Second, shipping powder supplements is considerably cheaper than shipping cases of energy drinks. Also the branding is terrific IMO 🔽 Instagram

• MingsBings, a purveyor of plant-based crunchy wraps, launched a new line of meat-based crunchy wraps and revealed a sleek brand refresh. MingsBings was founded by celebrity chef Ming Tsai. Instagram

• Myna Snacks, a better-for-you snack brand founded by Pokimane, the most followed female streamer on Twitch, officially launched. Their first product is the Midnight Mini Cookie which is free of dairy, soy, gluten, and grains, and doesn’t contain any artificial flavors, colors, or ingredients. Love the packaging 🔽 Myna Snacks

Data 🖥️

• While sales of most carbonated soft drink brands are down, OLIPOP volume is up a whopping 765%. For context, Zevia volume is down 19% over the same period. BevInsights

Distribution News 🚚

• MingsBings (mentioned above) will launch at Sprouts and Market Basket later this month.

• Natural skincare brand APTO is now available at CVS Pharmacy.

• CanDo launched two of their keto nutrition bars at Sprouts.