Eva Longoria Joins Siete 📈

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CPG WIRE
April 13, 2024

GM and Happy Saturday, folks. Thursday and Friday were pretty quiet news days in CPG Land so today’s newsletter is a shorter one. Let’s dive in:

  • Suma Brands raises $95M 💰

  • Vacation drops 3 new products 😍

  • SummerFall officially debuts 🫧

  • Mela surpasses $10M in sales 🍉

Deals 💰

Fundraising

  • Eva Longoria has joined Texas-based Siete Foods as an investor and a strategic advisor. Siete also expects to surpass $500M in revenue this year. Eva Longoria was born in Corpus Christi, TX and briefly met Veronica Garza, one of Siete’s co-founders, at a cheer camp over three decades ago. Neat story. Forbes

  • Suma Brands, a Minneapolis-based acquirer of Amazon brands, raised $95M in equity funding from undisclosed investors. SEC

What’s New 🤩

Apparel, Cosmetics, and Wellness

  • Vacation had a pretty busy week as they introduced not one, but three new products. The new products include: Shake Shake SPF 50 Face Sunscreen, Studio Tone SPF 50 Bronzing Drops, and Super Stick SPF 45 Face Stick. Instagram

  • SKIMS opened a gorgeous pop-up at Nordstrom in NYC. Yet another impressive retail activation from Team SKIMS. Twitter

  • Skincare brand The Inkey List is launching a new body care range that will be available exclusively at Sephora. The new range includes an exfoliating body cream and an exfoliating body stick. WWD

Food, Beverage, and Alcohol

  • SummerFall, a purveyor of canned sparkling sakes, officially launched on April 10th. The brand was founded by Takuma Inagawa who previously launched WAKAZE, one of the best-selling sakes in France. The branding is very fun 👇 Modern Retail

  • Fishwife unveiled two stunning newcomers — Albacore Tuna in Olive Oil and Albacore Tuna in Spicy Olive Oil. Beauties. Instagram

  • Not Beer, a new sparkling water brand with a sense of humor, officially made its debut. The packaging, copy, and positioning are pretty brilliant. Whether or not the marketplace has room for another whacky canned water brand remains to be seen, however. Not Beer

  • Vita Coco launched a line of indulgent coconut milk drinks called Vita Coco Treats. Their debut flavor is Strawberries & Cream. GlobeNewswire

Data 🖥️

  • Mela Watermelon Water surpassed $10M in sales after 2.5 years in business. The founder, Dominic Purpura, was a beverage outsider so it’s a cool story. Instagram

Distribution News 🚚