This Week in CPG - The Starface Founders Are Back

Author

CPG WIRE
November 19, 2022

The Big Story 

The founders of iconic pimple patch brand Starface — Julie Schott and Brian Bordainick — are back with a new skincare venture, Futurewise. 

Starface launched in 2019 and exploded in popularity. Its popularity can be attributed to a few different factors. First, it solves a simple, age-old problem: pimples. Second, its bright, whimsical packaging make it a favorite item to share on social media. Third, its low price point ensures accessibility, particularly for cash-strapped teenagers. 

It's really the perfect formula: it works, it looks cool, and it doesn't cost much. Even Bieber uses it.

Schott and Bordainick are deploying a similar playbook for their new skincare brand. The problem they're solving with Futurewise is simple: your skin passively loses moisture through transepidermal water loss, and their products help trap that moisture. It's the equivalent of smearing Vaseline on your face and going to sleep for eight hours. You wake up with lush, hydrated skin. The kids call it "slugging" and surprisingly, at least to me, many dermatologists approve of it. 

Like Starface before it, Futurewise's packaging is bright, fun, and doesn't take itself too seriously. Recreating the viral success of Starface will be difficult — lightning seldom strikes twice — but having done it before, Schott & Bordainick might pull it off again.

Deals

  • LA-based haircare brand Arey raised $4.15m in seed funding. Female Founders Fund and Greycroft co-led the round. Arey launched in 2021 and was founded by Allison Conrad and celebrity hair stylist Jay Small. In short, Arey's products restore and re-pigment gray hairs. Link

  • French spirits firm Pernod Ricard will invest $22m in a high-speed canning line to increase canned cocktail output at its Arkansas facility. Pernod has made some big bets on its future: acquired Codigo 1530 Tequila, launched Nocheluna Sotol with Lenny Kravitz, and increased its stake in Sovereign Brands, the owners of Bumbu Rum and Luc Belaire. Link

  • Bain Capital Private Equity acquired a majority stake in Mash Holdings, a Tokyo-based fashion & cosmetics group, for around $1.4B. Mash was founded in 1998 and operates a number of brands including Gelato Pique, FRAY I.D, and SNIDEL. Mash reported $732m in TTM revenue, an increase of 13% YOY. Link

  • French pharmaceutical firm Biocodex Group acquired a majority stake in Hilma, a natural remedies brand that launched in 2020. Hilma raised a total of $7m in funding and was co-founded by Hilary Quartner, Nina Mullen, and Lily Galef. Link

  • The Perfect V, a gynecologist-approved intimate wellness brand founded by Avonda Urben, was acquired by GridKor. Their retail partners include Revolve, Blue Mercury, and Anthropologie. Link

  • Diageo-backed Distill Ventures invested in The Oxford Artisan Distillery (TOAD), an English producer of rye whiskies and gins. TOAD was founded in 2016 and uses heritage grains that are produced via regenerative farming methods. Link

  • Private equity firm Peninsula Capital acquired a 40% stake in MC2 Saint Barth, an apparel brand known for its distinct holiday wear. The company was founded in 1994 and has 42 stores globally. Link

  • NBA legend Tony Parker purchased Chateau Saint Laurent, a wine estate with 40 hectares of vines in Southern France. Link 

  • Pronghorn, an investor in black-owned businesses, invested in three spirits brands: Tequila With Friends (TWF), Den of Thieves Whiskey, and Ego Tequila. Link

What's New...

  • Stunning new instant lentil meal brand from Colorado, Lentiful. Great name and beautiful branding by Katrina Romulo. Can't wait to try these. Link 

  • Pleasing, the cosmetics and lifestyle brand founded by Harry Styles, opened a number of pop-up shops in NYC, Los Angeles, and London. Link

  • Meal replacement bar brand SANS partnered with Lululemon on an exclusive, limited edition flavor: Lulu's Lemon Macadamia. Smart way to get in front of the right customers. Link

  • French animal-free dairy startup Standing Ovation announced a partnership with Le Groupe Bel, the iconic French dairy giant, to bring animal-free cheese products to market. A major coup for the early stage startup. Link

  • Cold brew concentrate brand Javy got a warm rebrand. Link

  • Rapper Snoop Dogg is now in the pet accessories biz with the launch of Snoop Doggie Doggs. The products are unsurprisingly adorable. Soon Snoop and Martha Stewart will have products in every aisle. Link

  • New organic period care brand, Red Moon. Link

  • Tequila brand Codigo 1530 and lifestyle brand Playboy collaborated a limited edition bottle. Link

Distribution Quickfire 

  • Vitamin-infused chocolate brand Sourse launched at Whole Foods in three regions.

  • Australian sun care brand Sunny Skin launched in the US.

  • MingsBings, Ming Tsai's vegan frozen food brand, launched at Mr. Tofu in Mexico.

  • Snack brand Cheddies is now available on American Airlines.

  • Mocktail brand Mingle launched at Total Wine & More.

  • UK-based premium vodka brand Au Vodka launched in the US.

Personnel

  • Kodiak, the breakfast brand majority owned by L Catterton, appointed Valerie Oswalt as CEO.

  • Jeni's Splendid Ice Cream has a new CEO, Stacy Peterson.

  • Former Luxottica CEO Andrea Guerra named Head of Hospitality at LVMH.

  • Chad Kessler is now overseeing private label brands at Dick's Sporting Goods. Previously Kessler was an executive at American Eagle Outfitters.