💫 The Sydney Sweeney Effect on Brand Performance

Celebrity partnerships continue to deliver outsized returns when executed well. Sydney Sweeney's recent brand collaborations showcase the tangible impact of strategic influencer partnerships:

• Her ad for Dr. Squatch coincided with the company reaching $1.5B in sales

• A single campaign with American Eagle drove the stock up $200M (10%) in one day

These results highlight the importance of securing favorable deal structures; hopefully her agent is negotiating equity stakes in these partnerships given the measurable value she's delivering to brand partners.

💥 Rivian Spins Out $1B E-Mobility Unicorn

$16.5B automotive company Rivian just created an instant unicorn. Meet Also, Inc., an e-bike and micro-EV startup that secured $200M from Greenoaks Capital at a $1B valuation, all without launching a single product.

The ambitious startup aims to replace the ubiquitous 5-mile car trip through e-bikes, light EVs, and urban delivery vehicles. Adding credibility to the moonshot is design partnership with Jony Ive's LoveFrom, bringing Apple-level industrial design thinking to urban mobility.

But the e-mobility space tells a cautionary tale. While Also commands unicorn status pre-launch, the sector has seen spectacular failures like VanMoof's collapse and ongoing profitability struggles at companies like Cowboy. The question remains whether premium design and Rivian's backing can overcome the operational challenges that have plagued e-mobility ventures.

🔥 Solo Brands Returns to NYSE… but Is It Really Back?

Solo Brands (makers of Solo Stove and Chubbies) was just reinstated on the NYSE with a new ticker: $SBDS.

But there’s drama under the hood:

• 1-for-40 reverse split to get above $1/share

• $113M net loss in 2024

• Total debt now $429M after JP Morgan allowed a $277M draw

• Shareholders diluted ~5% after Q1 covenant breaches

Core brands:

• Solo Stove: ~$300M in revenue / ~$45M EBITDA (declining)

• Chubbies: ~$110M in revenue / ~$15M EBITDA (growing)

They’ve got until August 25 to remain compliant. High stakes for a brand once valued at $1.5B.

🎙 Podcast Highlight: Building Product-First Brands

This week's podcast features Black Wolf co-founder Sam Lewkowict discussing how listening to 1,000+ customers before scaling created one of the most operationally disciplined men's grooming brands in the market.

Key takeaways from the conversation:

Product Over Marketing: Why superior products, not just better marketing, represent the next sustainable competitive advantage in CPG

Strategic Device Launch: The real motivation behind their grooming device expansion and honest insights about what didn't work in their approach

Omnichannel Excellence: How DTC, Amazon, and retail can work together effectively rather than competing for resources

Smart Email Strategy: Why directing email subscribers to Amazon purchases isn't counterproductive—it's strategically sound

AI's CPG Impact: Realistic expectations for what artificial intelligence will and won't change for CPG operators

Sam's approach is refreshingly honest about the operational discipline required to build sustainable brands in 2025's competitive landscape.

🎧 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