LVMH Shops Fenty Beauty, Grüns Hits $300M 🐻

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

• Unilever delays spinoff 🍦

• IRIS Ventures secures €100M 💶

• Amouage opens NYC flagship 😍

• Hot Take Dough collabs with FORM 🍪

• Immi launches at CVS 🍜

Deals 💰

Mergers & Acquisitions 

• LVMH is exploring a sale of its stake in Fenty Beauty, the cosmetics brand it incubated and launched alongside Rihanna. The luxury giant has enlisted Evercore to find a buyer for its 50% stake. Fenty Beauty launched in 2017 and did $450M in net sales in 2024. CNBC

• PNC Brands Group has acquired a majority stake in Ice Cream Factory, a Missouri-based manufacturer of branded and private label ice cream products. The company was founded in 2019 and operates a 90,000-square-foot dairy plant. Ice Cream Factory has built a loyal following across the Midwest due to its small-batch, high-quality ice cream. PR Newswire

• Speaking of ice cream…Unilever is delaying the inevitable spinoff of its ice cream division due to the government shutdown. The division did north of $9B in revenue last year and will list on the NYSE when the SEC is operating at full capacity. WSJ

• Advent International is looking to sell two luxury fragrance brands: Parfums de Marly and Initio Parfums Privé. The private equity giant purchased a majority stake in the parent company of both brands in 2023. The two brands could fetch as much as $2B. Twitter

Fundraising

• IRIS Ventures secured €100M for Fund II. The Barcelona-based venture firm has backed Healf, Maurten, Superlativa, Biomel, and a number of other consumer plays. IRIS plans on raising a total of €200M for its second fund. LinkedIn

• We have more details on Hanni’s recent raise. The Atlanta-based body care brand raised a total of $2M from the likes of Melitas Ventures, Cult Capital, and Rodeo Growth Partners. Hanni will use the funding to support its storewide rollout at Sephora. Beauty Independent

• Kin Euphorics just initiated a $500K equity crowdfunding campaign. The non-alc beverage brand did $11M in 2024 and expects to hit $24M in net revenue in 2025. Jen Batchelor and Matthew Cauble launched Kin Euphorics in 2017. LinkedIn

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What’s New 🤩

Apparel, Cosmetics, and Wellness

• Luxury Omani fragrance brand Amouage opened a flagship store in New York City. Paris-based architectural studio Héroïne designed the stunning 860-square-foot retail space. The breeze block motif is a nice touch. PR Newswire

• Jennifer Krouse, the former COO and CFO at Victoria Beckham Beauty, launched a new skincare brand called AUNU. The company partnered with Comvita to create a line of medical-grade Mānuka honey skincare products. AUNU launched with 5 SKUs and a number of bundles. WWD

• Bombas, the DTC sock brand that’s on pace to do $500M in sales this year, just opened its first retail store in New York City’s West Village. The company also plans on opening stores in Boca Raton and Austin. 65% of sock sales occur in physical stores, so Bombas is now testing the owned retail channel. Retail Dive

• Teen sisters Leah & Misha Burdeen launched a purpose-driven haircare brand called Burd Beauty. The high schoolers co-founded the business with Julie Smolyansky, their mother and the CEO of Lifeway Foods. Burd’s products are clean, cruelty-free, and help combat domestic violence. PR Newswire

• Momentous released a line of creatine chews and each chew delivers 1g of Creapure creatine monohydrate. A 150-count jar retails for $49.95. Business Wire

Food, Beverage, and Alcohol

• Carbone Fine Food launched a simmer sauce line with three flavors: Cacciatore, Fra Diavolo, and Bolognese. The three SKUs will begin hitting shelves in 2026. Carbone Fine Food is now the second largest pasta sauce brand in the natural channel and annual sales are approaching $100M. Instagram

• Smood Sweets is a new better-for-you candy brand from the co-founders of Dr Smood and Moss. The company is bringing a line of candy-coated dates to market and will announce a major retail partner in the coming weeks. The packaging is excellent. One of the best products I tried at Expo West was True Dates so I’m particularly excited about Smood Sweets. Instagram

• Curdi is a modern cottage cheese brand from the UK. The brand is looking to make cottage cheese cool and desireable, similar to what Good Culture did in the U.S. Good Culture surpassed $200M in sales last year as consumers rediscovered the high-protein and low-carb qualities of cottage cheese. Bullish. LinkedIn

• SPARKLiNUTS is a new functional coconut water brand from Miami. Their sparkling coconut tonics are formulated with Ashwagandha, L-theanine, Guarana, sea salt, vitamin C, and ginseng. The branding is fun and energetic. The coconut water category has been reinvigorated in recent years as consumers continue to fixate on hydration. LinkedIn

• Hot Take Dough is partnering with FORM, a fast-growing activewear brand, to launch a protein cookie. Each cookie features 9g of grass-fed whey protein and will be available for purchase later today. Instagram

• BFY candy brand HORMBLES CHORMBLES reformulated its product line. The upgraded formula features more cocoa butter and cocoa liquor for a richer taste and smoother texture. Instagram

Data 🖥️

• Modern wellness brand Cymbiotika expects to hit $200M in sales this year. The company launched in 2019 and recently secured storewide distribution at Target. Liquid and liposomal supplements are having a moment right now. Instagram

• Even more impressively, Grüns just surpassed $300M in revenue in less than 24 months. The company is also profitable, added 6,300 retail doors, and has shipped 1 billion gummies. Inc. 

• Lucky One Lemonade, a non-carbonated vodka cocktail brand from Spirit of Gallo, is approaching 1 million cases after launching in May of this year. Non-carbonated cocktails like Surfside and Lucky One are becoming wildly popular. Beer Business Daily 

Distribution News 🚚

• Blue Zones Kitchen launched storewide at Publix.

• BFY soda brand Spade launched at Pete’s Fresh Market.

• Habiza launched at Gristedes, Morton Williams, and D’Agostino.

• Something Sweet launched at Gelson’s in California.

• Immi launched at 3,800 CVS stores.