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- CPG Acquisitions, Fandom-Led Apparel, and a DTC Fashion Deal in Play
CPG Acquisitions, Fandom-Led Apparel, and a DTC Fashion Deal in Play
Big exits, big bet sizing, and big brand momentum — here’s what’s moving this week:
Unilever x Dr. Squatch: $1.5B for Soaps and Suds
Rumored figures from Unilever’s latest personal care pickup of Dr. Squatch:
💰 2024 Revenue: $400M (vs. $100M in 2021)
📈 Profitability: $90M EBITDA
🛒 Channel Mix: 85% DTC — but $47M already coming from Walmart + Costco
Massive growth. Near-25% EBITDA margin. And a rare 4x exit in just three years.
Huge win for early investor Guild Capital, who was also behind Ruggable and Home Chef.
L’Oréal to Acquire Color Wow: Another $1B+ Beauty Play
L’Oréal is keeping its M&A streak alive, now acquiring premium haircare brand Color Wow.
🎯 2024 Revenue Estimate: $300M
🧑🎤 Founder: Gail Federici (co-creator of John Frieda), launched the brand in 2013
💼 Backers: No outside capital publicly reported
Reportedly shopped for ~$1B via Houlihan Lokey. A clean, direct brand that scaled profitably — and now becomes another notch in L'Oréal’s beauty belt.
Momofuku Goods: CPG Growth That’s Outpacing the Restaurants
David Chang’s CPG brand, Momofuku Goods, is now bigger than the Momofuku restaurants themselves.
🍜 2024 Revenue: $67.5M (vs. $50M in 2023)
💰 Funding: $29M raised from ACG across Series A & A-II
🏪 Retail: Now in 3,500+ doors including Whole Foods, Target, Wegmans
🌶️ Hero SKUs: Chili Crunch, noodles, soy sauces, seasoned salts
From chef to shelf, Chang’s brand is setting the standard for culinary crossover success.
🚨 Deal Alert: A DTC Apparel Brand with EBITDA and Upside
A premium DTC fashion brand is exploring strategic options:
📉 Peaked at $14M revenue in 2023, slowed by cash constraints
✅ EBITDA-positive in 2024
⭐ 7,500+ 5-star reviews, strong NPS
💎 $401 LTV across $24M in customer value
🛍️ No wholesale push yet — whitespace opportunity
🎙 Podcast: Homefield Apparel’s Playbook for Word-of-Mouth Growth
No celebrity seeding. No paid ads blitz. Just a fan-first brand built for the college sports diehards.
This week’s episode features Connor Hitchcock, founder of Homefield Apparel, sharing:
📉 Why they only spend 5% of revenue on Meta
🏟️ How tailgates, Discords, and bar takeovers drive community
🧵 Why “thoughtful design” creates virality in niche fandoms
📦 How $220 bundles drove $500K+ in 24 hours
🧠 Lessons from licensing, retail expansion, and nostalgia-driven marketing
It’s a playbook for building a brand that doesn’t need to chase CAC every quarter.
That’s it for this week.
If you liked this issue, forward to a friend who obsesses over brand strategy, capital flows, or exit timing.
In the Money – following the flow of capital in consumer