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Illustration: Aïda Amer/Axios

New York-based brand agency Gin Lane is debuting Pattern Brands, a modern twist on the consumer goods holding company, with $14 million in VC funding. It's also sunsetting its 10-year-old agency to focus on the new venture.

The big picture: Pattern Brands is betting not only on its team’s experience in hatching popular consumer brands like Hims and Harry’s, but also on the benefits it can draw from its multiple product lines sharing customer data, marketing tactics, and costs behind the scenes.

The intrigue: There’s been a boom in direct-to-consumer companies in the last few years, spanning everything from mattresses to beauty products, food, and shoes.

  • Pattern Brands execs predict that the market is entering a consolidation phase, which it wants to tap into by creating a holding company whose separate product lines can more efficiently target and sell to a single customer, according to a pitch deck from summer 2018 obtained by Axios.
  • This customer is the "maturing millennial," a young adult who's moved in with a significant other, kicking off a point in life at which "you’re now investing in yourself and in your home,” as co-founder and CEO Nick Ling tells Axios. "We’re building [Pattern Brands' various product lines] as a family because of the length of the customer relationship," from young adulthood, to marriage, to parenthood, and so on, he adds.
  • The company's first product line, Equal Parts, will be comprised of cookware sets with cooking-class tie-ins. Its subsequent products will focus on other household needs, hobbies, and so on.

And just as the rest of the direct-to-consumer industry has been finding its way to brick-and-mortar and offline interactions with consumers, Pattern Brands will do the same via events and other channels.

  • Pattern Brands' launch party on Thursday in NYC, for example, will include lessons in watercolor, plant care, dance, and cake making, says co-founder Emmett Shine.

The company has also raised a total of $14 million in funding from investors that include Kleiner Perkins, Primary Ventures, RRE and execs from some of Gin Lane's successful clients.

Go deeper:

Go deeper

In photos: Protesters rally for George Floyd ahead of Derek Chauvin's trial

Chaz Neal, a Redwing community activist, outside the Minnesota Governor's residence during a protest in support of George Floyd in St.Paul, Minnesota, on March 6. Photo: Kerem Yucel/AFP via Getty Images

Dozens of protesters were rallying outside the Minnesota governor's mansion in St Paul Saturday, urging justice for George Floyd ahead of former Minneapolis police officer Derek Chauvin's trial over the 46-year-old's death.

The big picture: Chauvin faces charges for second-degree murder and manslaughter over Floyd's death last May, which ignited massive nationwide and global protests against racism and for police reform. His trial is due to start this Monday, with jury selection procedures.

Biden says $1,400 stimulus payments can start going out this month

Photo: Samuel Corum/Getty Images

President Biden said Saturday that the Senate passage of his $1.9 trillion COVID relief package means the $1,400 direct payments for most Americans can begin going out later this month.

Driving the news: The Senate voted 50-49 Saturday to approve the sweeping legislation. The House is expected to pass the Senate's version of the bill next week before it heads to Biden's desk for his signature.