👶 Coterie’s $650M Exit to Mammoth Brands

Celebrity-backed diaper maker Coterie is reportedly being acquired by Mammoth Brands (parent of Harry’s & Flamingo) for $650M.

By the numbers:

• $200M revenue

• $50M EBITDA

• Raised $100M+ since 2019

• Investors include Karlie Kloss, Ashley Graham, Kourtney Kardashian

Why it matters:

• The $7.8B U.S. diaper market has been stuck in commodity territory. Coterie carved out a premium, eco-conscious niche.

• Mammoth Brands (2024: $800M+ revenue, $100M EBITDA) is bolting on scale and diversifying beyond grooming.

• The multiples (3.3× revenue, 13× EBITDA) are rich for CPG, suggesting belief that premium positioning can defend share even in commoditized categories.

👉 A case study in hitting escape velocity through demand, operating leverage, and disciplined brand building.

🌏 Temasek Takes a Stake in Zegna

Temasek, Singapore’s sovereign wealth fund, just acquired 10% of Zegna for ~$220M.

Zegna today:

• Nearly $3B revenue

• Owns Thom Browne

• Licenses Tom Ford Fashion

• Pivoting from suiting to luxury leisurewear

The bigger story:

• Asian consumers have fueled luxury for a decade. Now sovereign capital is owning the brands themselves, not just spending on them.

• Echoes other moves like Mayhoola (Qatar) in Valentino and Gulf sovereigns buying flagship European real estate.

This isn’t just consumer demand, it’s long-term ownership of cultural assets.

🚀 From Bedding to Biotech Scale: Remedy Meds

When I first met Haris Memon, he was running Miracle Brand, a bedding company he incubated. Steady growth, then a solid exit.

18 months later, his next act: Remedy Meds, a GLP-1 telehealth provider.

• $450M revenue with a 30-person team

• Profitable

• Already in IPO conversations for 12–18 months out

Takeaway: It’s not just execution. It’s what happens when a sharp founder collides with a white-hot category. Sparks turn into rocket fuel.

🎙️ Podcast Highlight: Capital-Light Growth with Canopy’s Justin Seidenfeld

This week, I sat down with Justin Seidenfeld, Co-founder of Canopy, to discuss why raising less money can actually make your brand stronger.

Key insights:

• Capital discipline from day one: Canopy raised small angel/strategic checks, not big VC rounds.

• Product over promotion: Why most DTC brands fail at true innovation.

• Omnichannel focus: How to support retail partners while keeping DTC alive.

• Survival by design: Why capital-light strategies may be the best defense in today’s environment.

👉 One of the most candid, tactical conversations we’ve had about building a modern consumer hardware brand.

🎧 Watch on YouTube, listen on Spotify.

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

P.S. We love talking to brands interested in exiting in the next 3-18 months. If you know of any brands interested in exiting, or any firms trying to help port cos manage turnarounds, we'd love to share a POV.

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