Spicewell Raises Over $1M, LVMH Backs Moncler ⛄️

Author

CPG WIRE
September 28, 2024

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

  • L Catterton bets on Pilates 👀

  • AKT London scores $10M 💰

  • Glossier debuts new fragrances 🔥

  • High-protein chocolate coming soon 🍫

  • Bobbie heads to Whole Foods Market 🍼

Deals 💰

Mergers & Acquisitions 

  • LVMH acquired a 10% stake in Double R, an investment vehicle that owns a 15.8% stake in Italian luxury outerwear brand Moncler. LVMH will also take a seat on Moncler’s board of directors. Shares in Moncler surged on the news and the company is now valued at nearly $18B. Bloomberg

  • Italian fragrance producer Euroitalia has acquired the Moschino beauty brand for $110M. The seller is Italian fashion group Aeffe. Euroitalia has been producing Moschino fragrances since 1987 and already owned the exclusive license. Reuters

  • L Catterton acquired a majority stake in Solidcore, a Pilates studio operator that launched in 2013. The company is being valued between $600-700M. Fitt Insider

  • Riboli Family Wines has acquired Doctors Vineyards, a wine producer from Monterey, CA. The deal includes their 235-acre vineyard which was first planted in 1991. Just Drinks

Fundraising

  • Spicewell, a Santa Monica-based purveyor of nutrient-enhanced seasonings, secured more than $1M in funding from Path Ahead Ventures, Joyance Partners, Ashton Kutcher, Mila Kunis, and a handful of others. Spicewell sells salt & pepper that’s reinforced with vitamins and minerals. NOSH

  • British personal care brand AKT London raised $10M from Felix Capital, a UK-based venture firm. AKT will use the funding to develop new products and launch in new markets. The Industry

  • Europastry, a Spanish producer of bread and pastries, revived its IPO plans and hopes to raise more than €200M when it lists in Madrid. The company could be valued as high as €1.5B. Bloomberg

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What’s New 🤩

Apparel, Cosmetics, and Wellness

  • Beloved beauty brand Glossier is releasing two new fragrances: Glossier Rêve and Glossier Doux. The new fragrances will be available for purchase on October 3rd. ELLE

  • Isle of Paradise unveiled a stunning new product — Beautifully Balanced Body Oil. The product is available online via Sephora and will hit Sephora stores on October 18th. Instagram

  • Fast-growing Western lifestyle brand Tecovas opened a new store in Georgetown, TX. The company plans on opening ten other new stores this year. Tecovas also just launched in wholesale which is major departure for the company. Instagram

  • Luxury apparel house Ami Paris opened its first cafe in Beijing. The new cafe is Ami’s first permanent hospitality project. Hypebeast

Food, Beverage, and Alcohol

  • Jared Smith, one of the co-founders of RXBAR, is launching a high-protein candy brand called…HORMBLES CHORMBLES. The Chicago-based brand will sell chocolate that’s high in protein and low in calories and sugar. The protein candy space has been picking up steam lately…the aptly named Protein Candy launched earlier this year. NOSH

  • Nespresso (owned by Nestle) will debut its first-ever RTD coffee product early next month. It’s a pretty good-looking can but I’m curious if it will resonate with consumers. Food Dive

  • Crooked Owl reformulated their hard tepache range. The new formulation replaces erythritol as the post-fermentation sweetener with all natural fruit juices and reduces the use of natural flavor extracts in favor of steeping with spices. The reformulated products will be available in CA, GA, and NY starting next month. BevNET

  • AG1 is partnering with Starbucks to release two AG1 infused beverages. I’d love to see the nutrition panels for both beverages but this is a really clever way to introduce millions of consumers to AG1. Reddit

  • Stellar Snacks launched a range of gluten-free pretzel thins with three flavors: Truffle Pesto, Bruschetta, and Classic Sea Salt. Instagram

  • Leading Kosher brand Manischewitz launched a variety of new products including Chocolate Babka and Frozen Matzo Balls. The babka packaging is terrific. NOSH

  • Grupo Jumex and AriZona Beverages teamed up to release Jumex Hard, a malt-based hard nectar. Four flavors are available: Strawberry, Mango, Guava, and Pineapple Coconut. PR Newswire

Data 🖥️

  • OLIPOP and Poppi continue to post impressive growth despite the glut of better-for-you soda brands flooding the market. Poppi’s volume shot up 163.2% for the 4 weeks ending on September 7th, whole OLIPOP’s volume surged 153%. Twitter

Distribution News 🚚

  • Bobbie launched nationwide at Whole Foods Market.

  • Canned cocktail brand Picnic Brunch launched at Giant Eagle.

  • Sexual wellness brand Dame is heading to Walmart.