Story of the Week
TreeHouse Foods to be acquired for $2.9B
Treehouse Foods, a manufacturer of private-label food products, has reached an agreement to sell itself to European investment firm Investindustrial for $2.9 billion. Investindustrial will pay $22.50 in cash for each share of TreeHouse. As part of the deal, TreeHouse shareholders will receive proceeds, if applicable, from litigation against Keurig Dr Pepper. The TreeHouse transaction is expected to close in the first quarter of 2026, subject to approval by TreeHouse shareholders and the meeting of regulatory approvals and other customary closing conditions.
Apparel & Footwear
Skims valued at $5B as it plans store expansion
Skims completed a funding round of $225 million in raised capital, which valued the company at $5 billion, according to a Nov. 11 press release. The funding round was led by Goldman Sachs Alternatives with participation from BDT & MSD Partners’ affiliated funds. The brand intends to use the proceeds from the investment to support its physical retail and international growth, as well as to fuel product innovation and category expansion in areas such as apparel and activewear. Skims expects to exceed $1 billion in net sales this year. The brand aims to become a predominantly physical business over the next several years. It currently operates 18 owned U.S. retail stores and two franchise locations in Mexico.
Shoe Carnival to rebrand as Shoe Station Group
Shoe Carnival is fulfilling its promise to make Shoe Station its future. The company began tests in fall 2024 to rebrand some of its namesake stores to Shoe Station locations. The results were overwhelmingly positive, so the company began to accelerate its strategy. “It is crystal clear that Shoe Station is the future of our organic growth and the future of our store base,” Shoe Carnival CEO Mark Worden said in June. The company has completed 100 store rebrandings this year and is currently on pace to have 51% of its store fleet operate as Shoe Station locations by the back-to-school season in 2026. It will evaluate remaining locations for outlet repositioning, rebranding, or closure.
On says tariff-driven price increases have been ‘very well received’
Amid widespread unease over the state of the consumer this holiday season, On executives aren’t concerned, and said they would be approaching the holidays with a “full-price strategy.” “For us, the holiday season is a moment to connect with our brands about the right gear for the season that we are in,” CEO and CFO Martin Hoffmann said on a call with analysts. “It’s to shop for gifts, but it’s absolutely not the moment for us to drive sales through discounts.” Even tariff-driven price increases have not dampened consumer appetite. On already raised prices in the U.S. in July, Executive Co-Chairman Caspar Coppetti said those actions were “very well received” and that its affluent shoppers “are not price sensitive.”
Allbirds’ gross margin drops to 43.2% in Q3 FY25
Global lifestyle brand Allbirds, Inc. has reported gross profit of $14.2 million in the third quarter of fiscal 2025, as compared to $19.1 million in the third quarter of 2024, and gross margin declined 120 basis points to 43.2 percent compared to 44.4 percent in the third quarter of 2024. The decline in gross margin primarily reflects a higher mix of digital and international distributor sales, as well as increased duties in the US business, which offset a higher average selling price. In the third quarter of 2025, net revenue decreased 23.3 percent to $33 million compared to $43 million in the third quarter of 2024. The year-over-year decrease is primarily attributable to structural changes, including the impacts of international distributor transitions and planned retail store closures, the company stated in a press release.
Athletic & Sporting Goods
Saltwater Fishing Brands Combine Under New Entity
A group of investors led by Big Rock Sports Chairman Adrian Holler and Crystal Ridge Partners’ Jack Baron has formed Open Water Brands, a limited liability company that combines several saltwater fishing brands, including brands such as Clarkspoon, Sea Striker, Star Rods, Got-Cha, Calcutta, Billfisher, Krok, Beach Runner, Contour, and Nungesser. Big Rock Sports was formed in 1996 after a group of investors led by Holler acquired All Sports, Carlson Sports and Henry’s.
The Snow League, snowboarding and freeskiing pro sports league, raises $15 million
The Snow League, the first professional winter sports league entirely dedicated to snowboarding and freeskiing, announced its funding round of $15 million to accelerate growth and expansion. The new investment will allow The Snow League to build on the momentum of its inaugural 2025–26 season, helping to expand operations globally, enhance event production, grow its media properties and engagement, and advance partnerships with global brands ahead of its upcoming events in Asia, North America, and Europe. The round was anchored by new investors 359 Capital (formerly Sapphire Sport), BITKRAFT Ventures and WISE Ventures, the investment arm of the Wilf Family, as well as existing investor Left Lane Capital.
Trigon Sports Acquires Proper Pitch
Trigon Sports, based in Memphis, TN, announced the acquisition of Proper Pitch, Inc., the U.S. manufacturer of pitching mounds and baseball training aids headquartered in Fuquay-Varina, NC. Proper Pitch has been operating since the mid-1990s, with Glen Passner as its owner since 2002. Following the acquisition, Trigon Sports will transition the manufacturing operations of Proper Pitch products to its Memphis facility, enhancing efficiency while maintaining quality and craftsmanship.
Cosmetics & Pharmacy
Amorepacific Reports 4% Sales Growth and 41% Profit Surge in Q3 2025
South Korean beauty company Amorepacific Group posted consolidated revenue of ₩1.02 trillion (US$739 million) for the third quarter of 2025, up 4.1% year-on-year, with operating profit climbing 41% to ₩91.9 billion. Net income rose 83.6% to ₩68.2 billion, driven by improved margins and cost optimization. Domestic sales increased 4.1%, driven by strong performances from major brands, including Sulwhasoo, Aestura, Illiyoon, and Mamonde, across online and multi-brand store channels. A premium product mix and operational efficiency enhanced profitability. Overseas revenue grew 2.9%, led by the Americas (+6.9%) and Greater China (+8.5%). Growth in China reflected a recovery from last year’s restructuring, while brands such as Laneige and Sulwhasoo expanded through cross-border e-commerce and localized marketing. The EMEA and Other Asia regions saw slight declines due to channel adjustments.
Essity acquires Edgewell’s feminine care business in North America
Hygiene and health company Essity has entered into an agreement to acquire Edgewell Personal Care’s feminine care business, including the brands Carefree, Stayfree and o.b. in North America and Playtex globally. The purchase price for the assets amounts to USD 340m (approximately SEK 3.2bn) on a cash and debt-free basis. The acquisition supports Essity’s strategy to focus on high-margin categories and to grow market positions in the US, the world’s largest hygiene market. Essity is a fast-growing player in the feminine care category, with several strong regional brands such as Libresse, Bodyform, Nana, Saba, Libra and Nosotras.
Functional Wellness Brand Plant People Raises Investment Round from Manna Tree
Manna Tree, a global private equity firm investing in companies that empower consumers to live better, longer, today announced a strategic investment in Plant People, a growing functional wellness brand specializing in better-for-you gummy supplements. Under the terms of the agreement, Manna Tree now holds a significant minority position in the company. Unilever Ventures, an early investor in Plant People, also participated in this Series A round. Founded in 2018 by Hudson Davis-Ross and Gabe Kennedy in response to their respective spinal surgery recoveries, Plant People offers a comprehensive range of practitioner-grade, functional “Wonder” gummies harnessing clean, plant-forward ingredients to support everyday health goals, such as Sleep, Stress, Focus, Weight Management, Hydration and Beauty. Plant People is available nationwide through Target, Whole Foods Market, Sprouts, The Vitamin Shoppe, Erewhon, Grove Collaborative, Thrive Market, Amazon, and their website. It is B-Corp certified.
Estée Lauder Companies invests in Mexican luxury fragrance brand XINÚ
Estée Lauder Companies (ELC) has announced a minority investment in Mexican luxury fragrance brand XINÚ. XINÚ, founded in 2017, has created a name for itself in the fragrance category via sensorial retail spaces, a sustainable design ethos and products that “honour heritage while reimagining modern luxury”. This is the first time ELC has invested in a Latin American brand, underscoring its “commitment to championing local entrepreneurship and innovation”, read a company statement. ELC made the minority investment via its strategic early-stage investment and incubation arm, New Incubation Ventures. The venture capital arm partners with forward-thinking founders and entrepreneurs to create, fund and support emerging beauty brands. The financial terms of the deal were not disclosed.
Discounters & Department Stores
Walmart CEO Doug McMillon to retire, John Furner to succeed
After over a decade in the position, Walmart Inc. CEO and President Doug McMillon will retire on Jan. 31. Current Walmart U.S. President and CEO John Furner has been elected by the board of directors to succeed McMillon effective Feb. 1, according to a November 14 press release. Furner has also been elected to the board effective immediately, and the company plans to announce his successor before the end of fiscal year 2026. McMillon will remain on the board until June to support the transition and serve as an adviser to Furner through January 2027.
Retail basics propel Dillard’s in Q3
Dillard’s Q3 total retail sales (not including its construction business) rose 3% year-over-year to $1.4 billion, as comps rose 3%, the department store said on November 13. Sales rose significantly in ladies’ accessories, lingerie and apparel, juniors’ apparel and children’s apparel; moderately in shoes; and slightly in home and furniture, men’s apparel and accessories, and cosmetics. Retail gross margin rose to 45.3% from 44.5% last year, driven by moderate expansion in shoes, ladies’ accessories, and lingerie. Inventory was up 2% at quarter’s end. Net income (including the construction unit) rose 4% to almost $130 million.
Emerging Consumer Companies
Beverage brand Lucky Energy raises $25 million
Lucky Energy, the fast-growing energy beverage brand, announced that it has successfully closed an oversubscribed $25 million Series B funding round, led by Paine Schwartz Partners. The round also saw continued support from existing investors, along with new backers including North Fifth Services, LLC, Sequel, and Joyance Partners, among others. Founded with the mission to create energy drinks that are cleaner, simpler, and healthier, Lucky Energy offers a refreshing, functional energy drink made with just five ingredients- containing 0 sugar, 0 calories, and no artificial additives. The new funding will fuel Lucky Energy’s nationwide growth, including expanding its retail presence, strengthening national and regional partnerships, increasing marketing efforts, and expanding its team as it continues to scale to meet rising consumer demand.
CardVault to open store at Mall of America
CardVault by Tom Brady, featuring sports cards, trading cards and authenticated memorabilia, continues its retail expansion with a new 1,700-square-foot store at the Mall of America. The store officially opens on November 16, becoming CardVault’s ninth location nationwide. Blending sports culture, community and collecting, the store is located on Level 1 in the Huntington Bank Rotunda, where consumers can buy, sell, trade, and submit cards for grading on-site, with access to authenticated memorabilia, sealed boxes, sealed packs, assorted cards, and exclusive limited-edition collectibles across all major sports and trading card games.
Tote brand Hulken expands to Target
Hulken, a rolling tote bag brand known for shiny colors and durable wheels, is launching in Target as it looks to grow beyond its direct-to-consumer base. The company launched in 2020 with its signature large rolling tote bag, featuring five wheels and three straps. Thanks to strong word of mouth and significant media buzz — including a thumbs-up from home guru Joanna Gaines and an appearance on “And Just Like That” — it has grown into an eight-figure brand known for its durability and versatile use cases. The launch will start with a small selection of products compared to what’s available online: Hulken will sell its large rolling tote in black for $125, as well as a medium size in black, rose gold and silver for $110, in stores and on Target.com. The products will be found in the storage and organization aisle.
Rebel, re-commerce marketplace, raises $25 million
Rebel, the largest B-Corp certified returns recommerce marketplace for open-box and overstock goods across North America, announces it has closed a $25 million oversubscribed Series B funding round led by MarcyPen Capital Partners. The round comes under a year after Rebel closed its Series A, which was led by Maveron Ventures with participation from MarcyPen. The round signals significant investor confidence in the returns economy and cements REBEL as a market leader building one of the first industry-wide technology solutions transforming how retailers handle returned goods at scale.
Gopuff, the instant commerce leader, raises $250 million
Gopuff, the leader in instant commerce, announced it has raised $250 million in new funding led by Eldridge Industries and Valor Equity Partners, with participation from Baillie Gifford, Robinhood, Equalis Capital, George Ruan, Yakir Gabay, and Gopuff’s co-founders, among others. This announcement comes as Gopuff enters its strongest financial position in company history, fueled by record revenue, contribution profit, and sustained core business growth. The funding round, which includes participation from both new and long-standing investors, underscores the power of Gopuff’s vertically integrated business model, the company’s strong performance, and its mission to transform the future of shopping.
Food & Beverage
Trip, calming beverage brand, raises $40 million
TRIP, the calming beverage drinks brand, announce a $40 million funding round – led by high-profile names such as Joe Jonas, Alessandra Ambrosio, Paul Wesley, Ashley Graham, and consumer fund Coefficient Capital. The company is on track to deliver $100 million in annual revenue this year and predicts $200 million in 2026. The company’s range of calming beverages and supplements are available in Target, Sprouts, Whole Foods Market, H-E-B, Wegmans, CVS, Erewhon, Soho House and many more – totaling 10,000 doors nationwide, with 50,000 globally.
Tropicana appoints former Pabst leader as CEO
Tropicana Brands Group has named Paul Chibe as CEO, tapping the former Pabst leader to turn around sales as the orange juice maker battles financial difficulties and fruit shortages. Chibe succeeds Glen Walter, who will stay with the company in an advisory role through the end of the year. Walter led Tropicana Brands Group through its $3.3 billion spinoff from PepsiCo. Investment firm PAI Partners owns the majority of Tropicana, with PepsiCo maintaining a 39% controlling stake in the brands. Chibe’s appointment is effective immediately. His career includes stints across the CPG space, most recently as CEO of privately held Pabst Brewing Company, where he was credited with driving significant growth, according to the release.
Guinness owner Diageo appoints new CEO to revive growth
Diageo has named consumer products veteran Dave Lewis as its next CEO, as the Guinness and Johnnie Walker owner grapples with shifting consumer alcohol preferences and considers divesting some of its brands. Lewis will become Diageo’s CEO and executive director, effective January 1, 2026. Lewis joins after most recently serving as chair of Haleon, a pharmaceutical company founded in 2022. Prior to that, Lewis was the Group CEO for British supermarket chain Tesco. Still, Lewis is no stranger to the CPG industry. He spent nearly three decades at Unilever, serving in marketing and business roles, including as president of the Americas and global president for personal care. He currently serves as a non-executive board director of PepsiCo.
Grocery & Restaurants
&pizza — the Washington, D.C.-based fast-causal chain — has announced the acquisition of Tex-Mex chain Tijuana Flats for an undisclosed amount. The new addition brings the Florida-based company’s 95 locations under &pizza’s newly formed parent company, Latitude Food Group. “We started talking casually about six months ago about wanting to grow faster at &pizza and we had hit that inflection point where you need a bigger staff, but you only have so many restaurants,” Latitude Food Group CEO Mike Burns said. “We started asking around and Tijuana Flats got brought to our attention and it was intriguing to us because of the brand’s quirkiness and regional presence. Just like &pizza, Tijuana Flats was really popular at some point and then lost its way and is now starting to come back.” Moving forward, Latitude Food Group plans to expand Tijuana Flats through a mix of corporate and franchise growth, starting in the brand’s home state of Florida. Moving forward, the team will be looking at acquiring strongly regional brands with a desire to grow.
Restaurant Brands International to form Burger King China joint venture with CPE
Restaurant Brands International announced that it will form a joint venture with CPE, a Chinese alternative asset manager, to run Burger King’s restaurants in China. Earlier this year, a subsidiary of Restaurant Brands acquired its equity interests from its previous Burger King China partners, Turkish-based operator TFI and U.S.-based private equity firm Cartesian Capital, for roughly $158 million in cash. At the time, the company said it planned to find a local operator as a partner. Under the terms of the deal, CPE will own roughly 83% of Burger King China. Restaurant Brands will hold a minority stake of about 17%, along with a seat on the board of directors. When the deal closes, CPE plans to invest $350 million into the joint venture. That investment will go toward a number of areas, from marketing to menu innovation, as well as restaurant expansion. Over the next decade, the joint venture aims to more than double the burger chain’s footprint in the market, from about 1,250 locations today to more than 4,000 by 2035.
Pura Vida Miami is targeting national expansion
Pura Vida Miami, an all-day café and lifestyle brand focused on health and wellness, has received a strategic growth minority investment from private equity firm TSG Consumer. Co-founders Omer and Jennifer Horev will retain a majority ownership stake and continue to lead the company as chief executive officer and chief brand officer, respectively. Founded in 2012, Pura Vida began as a single Miami Beach café inspired by the couple’s shared passion for health, wellness, and community. The concept has grown to more than 40 locations across Florida, New York, and California. The partnership with TSG Consumer is aimed at accelerating Pura Vida’s growth nationwide.
Home & Road
Losses deepen for Dorel in Q3 amid tariff headwinds
Canadian home furnishings supplier Dorel Inds. reported a wider third-quarter loss as tariff-related pricing pressures and liquidity constraints weighed heavily on its home segment, while its juvenile division demonstrated resilience through stable international sales. The company posted revenue of US$298.6 million, down 15.7% from US$354.2 million a year earlier. Dorel’s net loss widened to US$47.4 million, or $1.45 per diluted share, compared with a US$21.9 million loss, or 67 cents per share, in the third quarter of 2024. On an adjusted basis, the company reported a net loss of US$29.8 million vs. US$20.2 million last year. President and CEO Martin Schwartz said the quarter closed with the company’s new financing agreements that will support growth initiatives in its Juvenile business and restructuring efforts in its Home segment. Schwartz added that uncertainty surrounding U.S. tariffs and elevated retail price points continued to slow retail activity across both segments.
Jewelry & Luxury
Canada Goose’s Q2 revenue rises 1.8% on robust DTC growth
Winter Clothing manufacturer Canada Goose Holdings Inc. has reported its financial results for the second quarter of fiscal 2026, ending September 28, 2025, with revenue rising 1.8 percent to $272.6 million (down 0.8 percent in constant currency), driven by robust direct-to-consumer (DTC) growth offset by softer wholesale and other revenues. Meanwhile, the company’s gross profit rose 3.7 percent to $170.1 million, with the gross margin improving to 62.4 percent (from 61.3 percent), reflecting a higher DTC mix and improved pricing discipline. DTC revenue increased 21.8 percent to $126.6 million, with comparable sales up 10.2 percent. Wholesale revenue declined 1.0 percent to $135.9 million, consistent with planned channel discipline, and other revenue fell 62 percent to $10.1 million due to fewer Friends & Family and employee sale events, Canada Goose Holdings said in a press release.
Cartier-owner Richemont shrugs off tariffs, high gold prices as China improves
Cartier-owner Richemont reported quarterly sales well ahead of market expectations on November 14, driven by improved demand in China and a robust North American market, which helped it weather the hit from U.S. tariffs and high gold prices. Group sales grew 14% at constant exchange rates to 5.21 billion euros ($6.08 billion), exceeding consensus estimates of 7% in a Visible Alpha poll of analysts. Shares in the company jumped nearly 7% as a result. Richemont’s sales beat points to a broader brightening outlook in the luxury sector, echoing more positive signals from other luxury houses, including industry leader LVMH and Hermes. Kepler Cheuvreux analyst Jon Cox said that while all regions performed better than expected, China — once the key engine of growth for the luxury sector — was the main driver for the Swiss-based company’s sales growth in the July-September period.
BasicNet acquires Woolrich Europe operations for €40 million
Italian company BasicNet Group, owner of the Kappa, Robe di Kappa, K-Way, Superga, Sebago, and Briko brands, announced on November 11 that it has reached an agreement to acquire Woolrich, the historic American brand founded in 1830. The firm is acquiring Woolrich from L-Gam, an investment fund established in 2013 with the support of the Royal Family of Liechtenstein and families from Europe, Asia, and the United States. With this acquisition, BasicNet adds to its portfolio a brand with a rich heritage, fully aligned with the group’s values: authenticity, iconic status and cultural impact, the company said in a statement, adding that Woolrich will benefit from BasicNet’s proven business model, which combines industrial know-how, distribution strength and brand-building expertise, with the aim of relaunching the brand in European markets and globally, in partnership with Baoxiniao, which owns the brand in the rest of the world.
Office & Leisure
Yeti buys Helimix shaker IP in $38M cash deal
Austin, Texas-based Yeti Holdings will expand its drinkware lineup with a $38 million cash purchase of designs, tooling and intellectual property tied to the Helimix branded shaker bottle, a product developed in Punta Gorda. The asset deal, disclosed with third-quarter results, positions Yeti to launch a U.S.-made shaker that removes the traditional mixing ball and targets the fast-growing market for protein and hydration mixes. Helimix, known for its hexagonal vortex design and strong online following, is expected to cease operations as Yeti readies an updated model. Yeti reported $1.83 billion in 2024 sales and says the Helimix assets support margin-accretive growth and its broader push into sport, health and wellness.
Critterfence Purchases the Assets of Pet Playgrounds Dog Containment Fence Company
Critterfence, marketing their product through critterfence.com, deerfencing.com and bennersgardens.com has announced they are now operating petplaygrounds.com. Pet Playgrounds has been helping customers safely contain their pets since 2008 and is a well-known name in the dog containment fence industry. With PetPlaygrounds.com under the Critterfence umbrella, they intend to grow their business in the backyard pet fence market. Studies have shown that electric shock collar type invisible fences negatively impact dog behavior. By helping customers build inexpensive, safe, non-electric fences they can install themselves it helps pets run free and live happier healthier lives.
Technology & Internet
Smart ring maker Oura expects close to $2 billion in 2026 sales: CEO
The chief executive of Finland’s Oura told CNBC on Tuesday that the wearable tech company could generate close to $2 billion in sales next year. The smart ring maker has upped its forecast as it invests in artificial intelligence and international expansion, hot on the heels of a $900 million funding round in October. Oura is on track to secure $1 billion in sales in 2025, doubling its 2024 revenue, CEO Tom Hale told CNBC’s Arjun Kharpal from Web Summit in Lisbon, Portugal. Next year is “certainly going to be a lot more,” Hale said in an exclusive interview. “I don’t know if we know exactly how much but, it’ll be north, maybe close to $2 billion.”
Finance & Economy
A post-shutdown fog will hang over the U.S. economy for months
The longest government shutdown in U.S. history concluded after Congress passed a bill that was quickly signed into law to restore government functions and resume normal activity. But one key impact will continue to be felt for months to come. Throughout the 43-day shutdown, key economic data was not gathered, and the release of crucial economic indicators was delayed. In fact, the White House now states that jobs and inflation data for October may never be released due to the shutdown. “All of that economic data released will be permanently impaired, leaving our policymakers at the Fed, flying blind at a critical period,” said White House press secretary Karoline Leavitt, referring to the Federal Reserve, the U.S. central bank.
Consumer sentiment slumps to 3-year low on shutdown, economy fears
Consumer sentiment fell this month to its lowest level since June 2022, as the government shutdown intensified concerns about inflation, the labor market, and the economic outlook, according to the University of Michigan, which announced the results on November 14. A 17% plunge in consumers’ views of their personal finances and an 11% decline in year-ahead expectations for business conditions pushed down a gauge of the mood among U.S. households, the university said, reporting the results of a November survey. “With the federal government shutdown dragging on for over a month, consumers are now expressing worries about potential negative consequences for the economy,” Joanne Hsu, director of the university’s consumer surveys, said in a statement.
