Weekly Round Off With HTE 🔙✨
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Jeff Bezos’ brother’s firm has launched a debut $100M VC fund called HIPstr
‘One Of The First Places I Go’: Gen Z Is Finding Brands Via Pinterest
Kelly Fleming Winery Purchased by Winemaker Jayson Woodbridge and Hundred Acre Wines
Deckers Sells Sanuk To Apparel Brand
Butterfly Closes Sale of Stake in MaryRuth Organics
Jeff Bezos’ brother’s firm has launched a debut $100M VC fund called HIPstr
15 August 2024, TechCrunch
HighPost Capital, led by Mark Bezos (Jeff Bezos’ younger brother) and PE expert David Moross, has unveiled a new venture capital arm, HIPstr, along with fresh funds for startup investments.
HIPstr just announced its inaugural VC fund of $100 million. HighPost Capital, known for focusing on consumer companies, sees an opportunity to capitalize on the significantly lower startup valuations of recent years, according to Bloomberg. The fund has already backed several early-stage startups, including Wild Common, a liquor brand founded by Kylie Jenner, and After.com, a cremation services provider that recently secured a $10 million Series A round. 🚀💰
‘One Of The First Places I Go’: Gen Z Is Finding Brands Via Pinterest
14 August 2024, Modern Retail
📌 Pinterest is becoming a go-to platform for Gen Z when it comes to shopping inspiration, overtaking TikTok in some cases. During eTail East, a focus group called "The Z Suite," highlighted this shift. Notably, over 40% of Pinterest users are now Gen Z, making them the fastest-growing demographic on the platform, according to CEO Bill Ready.
Gen Zers like Olivia Meyer use Pinterest to discover niche trends and then head to TikTok for validation. Naomi Barrales echoed this, noting Pinterest’s vast inspiration base. Pinterest’s appeal lies in its ability to offer unique vibes and a distinct shopping experience, different from other social media apps.
Brands are taking note, with companies like American Freight leveraging Pinterest to connect with Gen Z, 39% of whom are always in shopping mode, per L.E.K. Consulting's 2024 study. This trend suggests Pinterest's rising importance in digital marketing strategies targeting Gen Z. 🛒
Kelly Fleming Winery Purchased by Winemaker Jayson Woodbridge and Hundred Acre Wines
16 August 2024, PR Newswire
Jayson Woodbridge, founder of Hundred Acre Wine Group, has acquired the iconic Kelly Fleming Winery, a 286-acre estate nestled in Napa Valley’s Simmons Canyon.
"When I acquired this property in 1998, I envisioned an estate worthy of its volcanic terroir. I’m proud to see that vision fulfilled," said Kelly Fleming.
She added, "I’ve kept this vineyard as beautiful as I found it. It’s a special place to celebrate Cabernet Sauvignon, and I trust the Woodbridge family will continue its legacy."
Woodbridge remarked, "Kelly’s collaboration with Jim Barbour, our long-time viticulturist, created something extraordinary. We’re excited to have Barbour Vineyards farming this land again for us."
The estate features 12 acres of vineyards, a 5,000-sq. ft. stone winery, a 7,000-sq. ft. natural rock cave, and a classic stone residence. The property’s first harvest under Hundred Acre’s stewardship is set for this fall. 🌿🍷
Deckers Sells Sanuk To Apparel Brand
16 August 2024, Retail Dive
Sanuk was excluded from Deckers’ forward-looking guidance in its latest earnings report. The brand’s net sales dropped 28.4% year-over-year in Q1 of fiscal 2025, totaling $6.9 million.
With the new deal with Lolë, Sanuk is moving its operations to a new Los Angeles office. According to Lolë’s press release, this move will allow Sanuk to “benefit from renewed investment” focused on its core strengths, including unique, consumer-centric products and marketing.
This acquisition builds on Lolë’s purchase of athleisure brand Époque Évolution last year. In an email to Fashion Dive, Pruitt and Lolë CEO Todd Steele called Sanuk a “natural fit” for their portfolio of environmentally conscious brands.
“Sanuk shares our commitment to sustainable choices, ethical production, and authentic customer connections,” they said. With Lolë’s support, they are eager to explore new product categories and grow Sanuk’s U.S. presence. 🌱📈
Butterfly Closes Sale of Stake in MaryRuth Organics
15 August 2024, Business Wire
Butterfly, a Los Angeles-based private equity firm focused on the food sector, has announced the sale of the majority of its stake in MaryRuth Organics, a rapidly growing vitamins and supplements brand. However, Butterfly will remain an active investor and keep a seat on the Board of Directors.
Since its investment in 2021, Butterfly has helped MaryRuth's nearly triple in size and quadruple its profitability, working closely with Founder and CEO MaryRuth Ghiyam. Under a new capital structure, MaryRuth and her family will retain majority ownership, with King Street, a global investment firm, providing financing for continued growth.
“This marks a major milestone for both Butterfly and MaryRuth’s,” said Butterfly's Co-CEOs. “We’re proud to support such a market-leading brand.”
King Street's Ed Testerman added, “We’re excited to partner with MaryRuth Organics and Butterfly as the company continues its impressive growth.”
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