#TBT - Did you listen to this episode yet?
#260- Raising VC for DTC & Consumer Brands
In a throwback episode of DTC POD, we were joined by Ryan Springer, a founding partner of MidnightVP, renowned for investments in brands like Jinx and Disco. With deep roots in retail strategy and firsthand experience as a national sales manager, Ryan shares invaluable insights.
Dive into the essentials of what investors seek in a business, from product excellence to capital management, and uncover the benchmarks for fundraising success, strategies for launching in a competitive market, and the critical role of retail margins in business inception.
👉🏻 Athletics brand On aims to double net sales by 2026
Running Brand On set sight on major expansion. (5 minute read)
Swiss athletic brand On recently outlined financial targets showing plans to double net sales to $3.9 billion between 2023 and 2026.
The company sees direct retail as a major opportunity for growth. On plans to operate over 30 stores globally by end of 2023. The footwear company also expects to exceed 60% gross profit margin by 2026.
👉🏻 Liquid Death hires ex-White Claw executive as chief commercial officer
Liquid Death to build executive teams for growth & possible IPO (5 minute read)
Water brand Liquid Death appointed former Mike's Hard seltzer sales executive Stephen Ballard as its first chief commercial officer. With rumored 2024 IPO plans, he will drive sales growth and distribution. Ballard brings expertise helping scale White Claw into a top brand. His experience is key as Liquid Death pursues rapid expansion.
👉🏻 From Warby Parker to On, here’s how disruptors are doing post-IPO
Investor sentiment cools on once hot e-commerce IPOs. (20 minute read)
Many e-commerce brands that went public during the pandemic have seen their stock prices plummet back down to earth. As the market shifted its focus more toward profitability over growth, once-hot IPO darlings like Warby Parker now trade significantly below their debut price.
Though exceptions exist, unprofitable digital disruptors generally face new scrutiny from investors.
Other News + Resources
👉🏻 Blue Apron to be acquired by Wonder Group (2 minute read)
Meal kit firm Blue Apron will be bought by Marc Lore's food tech startup Wonder Group for $103M, a fraction of its 2017 IPO valuation. The deal aims to strengthen Wonder's meal delivery platform. (link)
👉🏻 TikTok testing out advert-free monthly subscription (3 minute read)
Video app TikTok is piloting a $4.99 monthly subscription for an ad-free experience. Competitor Meta is also weighing paid options to comply with EU rules on data privacy. (link)
👉🏻 Walmart Hopes Third-Party Marketplace Will Snag Holiday Spend From Amazon (5 minute read)
Walmart is boosting its focus on its marketplace this holiday season to compete with Amazon. But Amazon’s established third-party network still maintains significant advantages in size and loyalty. (link)
👉🏻 SmileDirectClub files for Chapter 11 bankruptcy (3 minute read)
Teeth aligner firm SmileDirectClub filed for bankruptcy after sales dropped almost 40% since 2019. Founders committed $20M with potential for $60M more to aid restructuring efforts. (link)
X of The Week
5-step guide on building your DTC Brand
For any creator looking to tap into commerce, this is your blueprint: build thoughtfully, know your strengths, and most importantly, keep creating value for your audience.