Sharapova Joins Wolf & Shepherd 👟

Author

CPG WIRE
June 13, 2023

GM and welcome back to This Week in CPG. Here’s what we’re getting into today:

  • Sharapova backs Wolf & Shepherd 👟

  • Sephora opens its Store of the Future 🤖

  • New influencer skincare brand 📱

  • Plantish unveils rebrand 🐟

  • Muddy Bites heads to Costco 🍫

The Big Story 📰

Former No. 1 tennis player Maria Sharapova has invested in Wolf & Shepherd, a producer of athletic-inspired dress shoes for men and women. The company, which launched its first product in 2015, combines the most desirable features of dress shoes, namely fine materials like Italian leather, with the comfort and versatility of athletic footwear.

Per Justin Schneider, who co-founded Wolf & Shepherd alongside his wife, Hope Schneider, “we noticed a massive trend within urban areas of men wearing sneakers to commute to work, only to change into dress shoes at the office.”

Though terms of the fundraise weren’t disclosed, Wolf & Shepherd announced that Maria Sharapova will also join the company as a board member and strategic adviser. To be clear, Sharapova isn’t just another celebrity athlete passively investing in consumer brands. In addition to serving on the Board of Directors of Moncler Group, Sharapova has also backed a number of successful consumer brands like Supergoop, Therabody, Tonal, and Bala Bangles.

Sharapova will advise Wolf & Shepherd on design direction, product development, and focus on expanding their fledgling women’s collection.

More on the deal from WWD here.

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Deals 💰

Mergers & Acquisitions 

  • Henkel, the German consumer goods giant that owns Schwarzkopf and Dial, sold skincare brand Diadermine to Dutch cosmetics company Beauty International B.V. for 16.3m EUR. Diadermine was founded in 1904 and has been owned by Henkel since the 1980s. Fashion Network

Fundraising

  • Ten Thousand, the premium activewear brand founded by Keith Nowak, raised $21.5m in Series A funding. LA-based Provenance led the round while Fernbrook and Alfa participated. WWD

  • Cambridge-based cultivated meat startup Uncommon closed a $30m Series A round which Balderton Capital and Lowercarbon co-led. A number of other investors including Sam Altman, Red Alpine, and East Alpha also participated. Uncommon is focused on producing cultivated pork products like bacon. TechCrunch

  • London-based Arda Biomaterials, a startup that converts waste feedstock into useful biomaterials like leather alternatives, raised $1.3m in pre-seed funding. Clean Growth Fund led the round while Plug and Play, Serpentine Ventures, and Satgana tagged along. Arda’s first product, New Grain, converts wasted barley from beer production into an animal-free leather alternative. Tech EU

What’s New 🤩

Apparel, Cosmetics, and Wellness

  • Florentine fragrance brand Santa Maria Novella will open flagship stores in Paris and Rome. The perfumery and apothecary originally opened in Florence in 1612. WWD

  • LVMH-owned Sephora opened an experiential retail store in Shanghai. Dubbed The Store of the Future, the new location offers beauty services, classes, consultations, and of course, curated products. PR Newswire

  • Beauty and fashion influencer Marie von Behrens-Felipe launched a skincare brand called Sonsie with three products: Basic Balm, Moisture Mask, and Super Serum. The branding is chic and minimalist but looks like a lot of different skincare brands on the market. Sonsie

  • Selena Gomez is taking her cosmetics brand, Rare Beauty, to India through a partnership with Sephora. Fashion Network

Food, Beverage, and Alcohol

  • Jeni’s Ice Creams partnered with Pop-Tarts on a new Frosted Brown Sugar Cinnamon ice cream. It launches on Thursday, 6/22. Jeni’s

  • Israeli plant-based seafood brand Plantish has rebranded as Oshi. The company plans on launching in the U.S. later this year. Twitter

  • Two San Diego companies, JuneShine and SPY Optic, partnered on a pair of shades for summer. SPY

  • Gut-friendly nutrition bar brand BelliWelli will launch a new flavor, Crunchy Peanut Butter Chocolate, later this month. FoodBev

  • Vita Coco collaborated with New York-based coffee chain Bluestone Lane on a new Coconut Water Cold Brew for summer. GlobeNewswire

Data 🖥️

  • Revenue and net income at Supreme, the streetwear brand now owned by VF Corp, were both down YoY. 2022 revenue was $523.1m versus $561.5m the prior year. VF Corp acquired Supreme for $2.1B in 2020. Business of Fashion

Distribution News 🚚

  • Muddy Bites launched at Costco in the northeast.

  • Veggie chip brand Mozaics is now available at H-E-B.

  • Non-alcoholic aperitif brand Ghia launched at Sweetgreen in California.

  • Small Wins, the better-for-you candy brand founded by Celtics star Jayson Tatum, launched at Meijer.

  • Mela Water has partnered with Stone Distributing to expand its retail presence in Southern California.

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