Morning Brew - ☕ Supplemental coverage

Vitamin brand OLLY’s 2024 goals.
January 12, 2024

Retail Brew

Hello, it’s Friday, and we come to you with sad news. Ferrara Candy Company has discontinued its beloved Fruit Stripe Gum, which defined the childhood gum chewing experience for many Americans. A moment of silence for those all-too-short bursts of flavors like Wet n’ Wild Melon, Cherry, Lemon, Orange and Peach Smash.

In today’s edition:

—Erin Cabrey, Andrew Adam Newman, Courtney Vien

MARKETING

Picture of health

OLLY vitamin bottles OLLY

As consumers kick off the new year with health and wellness goals (ranging, often, from doable to completely unrealistic), categories like vitamins and supplements may likely be part of that fresh start.

For vitamin brand OLLY, the C-suite, too, is seeing a shift in the new year, as Bryan Ferschinger, the brand’s new chief revenue officer, is just a month into his gig. He joined OLLY from reservation management system Tock, and has also had an extensive food and beverage industry career, which included VP of marketing for MillerCoors’s Above Premium brands and director of strategic growth and innovation for Wrigley’s US gum portfolio.

OLLY, known for its colorful bottles of gummy supplements, was founded in 2014 and acquired by Unilever in 2019, situated in its Beauty & Wellbeing portfolio alongside brands like Dove and Vaseline. The brand has a wide portfolio of gummies, gels, and capsules addressing issues like mood, sleep, and gut health.

“It’s one of those brands that basically came in and turned a category on its head,” Ferschinger told Retail Brew. “It was much more relatable and approachable with how it came to life and the way that the products are named.”

As he enters the new year in a new role, Ferschinger shared his goals for the brand in 2024.

Keep reading here.—EC

     

FROM THE CREW

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The Crew

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E-COMMERCE

MoreDash

DoorDash pickup Jeff Greenberg/Getty Images

DoorDash, launched in a Stanford University dorm room by four students in 2013, has a habit of approaching delivery with a growth mindset.

In 2015, to help it gain on competitors including Grubhub and Uber Eats, the company partnered with large restaurant chains, including Wendy’s, Jack in the Box, Taco Bell, and The Cheesecake Factory. By 2019, DoorDash overtook Grubhub to become the biggest food delivery app.

Now the company and its Caviar subsidiary account for 66% of the food-delivery market, according to a recent report from Bloomberg Second Measure. DoorDash CEO Tony Xu recently told the Financial Times that to keep growing, the company has a two-pronged strategy: continue expanding geographically and beyond restaurant delivery.

“The two largest areas of investment are expansion and penetration outside of the US, as well as the same outside of restaurants,” he said.

Keep reading here.—AAN

     

DTC

Just Skimming the surface

skims carbon output measuring Francis Scialabba

Measuring the carbon footprint of individual products may be the next step in many companies’ ESG journeys. The European Commission (EC) has proposed legislation that would require companies to publish data on the raw materials, manufacturing, and recyclability of their products in the form of a Digital Product Passport (DPP). DPP regulation would also affect US companies, as the EC intends to apply it to products imported into the EU as well.

The EC expects DPP legislation to come up for approval this year and go into effect in 2026 or 2027. Though the status of the proposed regulations is still uncertain, companies are preparing now. In a recent webinar, Nina Khoury, vice president of strategic operations at apparel company Skims, discussed how her company has begun measuring the carbon footprint of its products.

Keep reading here on CFO Brew.—CV

     

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SWAPPING SKUS

Today’s top retail reads.

Coming home to roost: As KFC China celebrates the opening of its 10,000th store—in Hangzhou—CEO of Yum China, Joey Wat, breaks down how the fast food retailer continues to grow and rise to the top in China. (CNBC)

A pretty penny: Food inflation in India has reached a four-month high, while core inflation is slowing down. (Bloomberg)

Closing up shop: Why CVS is closing some “dozens” of pharmacies at Target stores. (Axios)

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