LVMH Delves Deeper Into Hospitality, AG1 Expects $600M in 2024 🤑

GM and Happy Thursday, folks. Here’s what we’re covering this morning:

• Kosé buys Thai beauty brand 💄

• ¡Ya Oaxaca! wins $100K grant 🫔

• Amouage opens NYC store 😍

• Origami launches non-alc sake 🍸

• Grüns lands at Sprouts 📈

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Deals 💰

Mergers & Acquisitions 

• LVMH acquired a minority stake in boutique hotel operator Les Domaines de Fontenille. Les Domaines de Fontenille currently operates 11 luxury properties across Italy, France, and Spain. LVMH has been actively building a formidable hospitality portfolio, In 2018, the luxury giant acquired Belmond for $2.6B. Skift

• Japanese beauty firm Kosé Corp has acquired Pañpuri, a Bangkok-based beauty and wellness brand that launched in 2003. Kosé Corp’s acquisition strategy is to purchase brands with deep regional roots like Pañpuri. Kosé also owns luxury skincare brand Decorté and American makeup brand Tarte Cosmetics. Terms of the deal were not disclosed. Business of Fashion

• Australia’s Treasury Wine Estates (TWE) acquired a majority stake in Ningxia Stone & Moon, a Chinese wine producer, for $18M. Stone & Moon currently has 43 hectares of planted vineyards and previously provided TWE with grapes. Just Drinks

Fundraising

• Austin-based ¡Ya Oaxaca! was named the winner of PepsiCo’s ninth Greenhouse Accelerator Program. The company produces artisanal moles, adobos, and salsas. ¡Ya Oaxaca! will receive a $100K grant along with additional resources from PepsiCo to help the brand scale. PR Newswire

• Israeli food tech startup Gavan raised $8M in Series A funding. MoreVC led the round while Lever VC, EIT Food, and DarkBoot Group provided additional funding. The company produces plant-based fat alternatives that mimic the flavor and functionality of animal fat. Vegconomist

• Chinese beauty brand Mao Geping raised $300M during its Hong Kong IPO. Mao Geping was founded by an opera singer-turned-makeup artist and is one of the few Chinese brands playing in the high-end cosmetics category. Reuters

What’s New 🤩

Apparel, Cosmetics, and Wellness

• Omani luxury fragrance brand Amouage opened a small boutique in New York City. The store is located on Prince Street in SoHo. Despite its diminutive size, the store is beautifully designed and really well-executed. PR Newswire

• LVMH announced a strategic partnership with Integrated Biosciences to discover novel ingredients with anti-aging properties. Integrated Biosciences is based in Redwood City and uses synthetic biology and machine learning to develop next-gen therapeutics. Beauty Packaging

• SKIMS opened its first-ever flagship store in New York City. The 6,500-square-foot store spans four floors and once served as the home of Versace for two decades. This is the brand’s sixth and largest store thus far. Beautiful. Hypebeast

• Eva NYC, the masstige haircare brand that Bansk Group acquired in 2022, is relaunching its haircare range with updated packaging, content, and communications. Their previous packaging was great but very text-heavy, so the updated packaging will likely be less overwhelming for consumers. WWD

Food, Beverage, and Alcohol

• Snack Factory released an interesting new product line that combines popcorn and pretzels. Dubbed Pop’ums, the new product is available in three flavors: White Cheddar, Golden Mustard BBQ, and Sea Salt. Pop’ums will hit shelves early next year. PR Newswire

• Best Day Brewing unveiled their newest non-alc brew — Galaxy Ripple Imperial IPA. Haven’t tried Best Day Brewing yet but I’ve heard very good things. Instagram

• Zab’s partnered with Hot Jamn! to release Hot Honey Candied Nuts for the holidays. Sadly they’re already sold out. Instagram

• American sake producer Origami Sake launched the nation’s first non-alcoholic sake. The product retails for $24.99 and is available at H-E-B, Spec’s, and Total Wine & More. PR Newswire

• Premier Protein launched a new protein shake range called Indulgence. The shakes contain 30 g of protein and come in rich, decadent flavors like Salted Caramel Truffle and White Chocolate Raspberry. Instagram

• It appears that Cadence and RAW Nutrition are working on a co-branded product. Details are scarce but we’re excited. Stack3d

• Interact Brands wrote a great piece on how brands can make bold changes to their packaging without alienating their customer base. The transformation of LesserEvil Snacks (slide #4) is a terrific example. Instagram

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Data 🖥️

• In the eight weeks following last year’s Super Bowl ad, Pop-Tarts sold 21 million more toaster pastries. Wild. Twitter

• AG1 expects to finish 2024 with $600M of revenue. Forbes

• The price of coffee is skyrocketing due to a supply shortage caused by droughts in Brazil and Vietnam. Kyla Scanlon tells us more about what’s going on with one of the world’s most beloved commodities. Instagram

Distribution News 🚚

• Daily nutrition brand Grüns launched at Sprouts Farmers Market.

• Functional beverage brand Holy! Water launched at Bristol Farms.

• Jake Paul’s personal care brand W launched at H-E-B and Kroger.

• Chike Nutrition launched storewide at Publix.

• Non-alc beverage brand Hiyo launched at H-E-B and World Market.

• Dryft Sleep launched storewide at Erewhon.