All Access

Retail Deals

Standard

Retail Deals Alerts

Alert

Retail Deals Thought Bubble

Thought Bubble

mustard

BFD Expert Voices - Retail Deals

BFD Expert Voices

topics

politics-policy

epstein-files

donald-trump

2026-midterm-elections

immigration

behind-the-curtain

race-and-equity

technology

privacy-tech-regulation

automation-and-ai

tiktok-news

big-tech

social-media

cybersecurity

economy

social-security

inflation

tariffs

federal-reserve

jobs

transportation

business

stock-market-news

retail-news

crypto

media

elon-musk

dealmaking

health

rfk-jr

drug-prices

axios-explains-abortion

public-health

world

israel

axios-explains-ukraine

iran

russia

china

energy-climate

nuclear-energy

climate-energy-policy

climate-change

extreme-weather

alternative-energy

electric-vehicles

science

emerging-tech

biomedicine

newsletters

pittsburgh

atlanta

san-diego

charlotte

boulder

washington-dc

kansas-city

dallas

denver

detroit

des-moines

austin

boston

chicago

cleveland

columbus

houston

indianapolis

miami

nashville

new-orleans

nw-arkansas

philadelphia

phoenix

portland

richmond

salt-lake-city

san-antonio

san-francisco

seattle

tampa-bay

twin-cities

raleigh

huntsville

axios-local

axios-pro

axios-live

the-axios-show

Saalt, a menstrual care startup, is raising a seed round it aims to close by the end of this year, CEO Cherie Hoeger tells Richard exclusively.

Why it matters: The international feminine hygiene market is expected to nearly double to nearly $63 billion over the next decade, according to Future Market Insights.

Details: The Boise-based company is seeking a strategic partner to invest and proceeds will go to improving its e-commerce customer experience and marketing, Hoeger says.

The raise is being handled internally without the help of advisers, she says.

Hoeger declined to comment on the amount of the raise or on the valuation of the business.

To date, the company has raised no capital.

Between the lines: Period care lacked in innovation for nearly a century, going back to the late 1880s when disposable tampons with wings were first introduced, Hoeger says.

Her aim was to create products that are comfortable, effective and reusable, as well as lack toxic chemicals, she says.

By selling reusable cups and discs along with underwear, Saalt makes period care more accessible for women in places where reusable tampons are either too expensive or aren't even available for sale.

Zoom in: Saalt's products are sold at Amazon, Target, CVS, Nordstrom, Revolve and Neiman Marcus.

What's next: Saalt plans to expand its product line, including a disc/cup steamer and a detergent to wash its Saalt Wear products in.

State of play: Period care has become a focus of entrepreneurs in recent years, resulting in a number of startups such as Pinkie, August, Aunt Flo and Cora, among others.

1 big thing: Period care startup seeks seed round

Toymaker Hasbro has agreed to sell its film and TV studio Entertainment One to Lionsgate for around $500 million, the companies announced this morning.

Why it's the BFD: The paring of the pricey asset will allow Hasbro to focus on its "core toy and game expertise."

Of note: Lionsgate is set to spin off its own film and TV studio into a separate company, and now adds to that a 6,500-plus title content library, Media Deals' Tim Baysinger writes.

Details: The purchase is comprised of $375 million in cash, subject to additional purchase price adjustments, and the assumption of production financing loans

The deal does not include top family brands like Peppa Pig and PJ Masks, which have been folded into Hasbro's wider merchandising operations.

Catch up quick: Hasbro purchased eOne for $4 billion in 2019 as part of former CEO Brian Goldner's plan to turn the toymaker into a bigger media player.

Goldner died in 2021. His successor, Chris Cocks, launched a review in early 2022.

Around that same time, Hasbro came under fire from a pair of activist investors who criticized the eOne purchase and called for the company to offload it.

In 2021, Hasbro sold eOne's music business to private equity firm Blackstone for $385 million.

The bottom line: Lionsgate's studio spinout plans have drawn M&A chatter about the future of its film and TV assets, which include more than 18,000 titles. Adding eOne only figures to further that feeling.

2. The BFD: Hasbro finally finds a buyer for eOne 

Illustration of a theater marquee with dollar signs.

Juul Labs, the e-cigarette company, is seeking to raise around $1 billion, according to Bloomberg, citing people familiar with the matter.

Why it matters: Despite an array of legal issues, the company is still hoping to take advantage of the burgeoning e-cigarette market, which has grown, as traditional tobacco products have waned, Kimberly writes.

E-cigarette unit sales grew by 46.6% in the span of 12 months last year, according to a Center for Disease Control and Prevention study.

Details: Juul is working with Jefferies Financial Group on the effort, per Bloomberg.

Catch up fast: Last Fall, Juul Labs said it had secured enough new financing to avoid bankruptcy.

The financial lifeline came from Hyatt Hotels heir Nick Pritzker, and investor Riaz Valani.

Context: Marlboro parent Altria exited its stake in Juul earlier this year.

Altria's shares in Juul were valued at about $250 million in December, down from $12.8 billion in 2018 when it had acquired a 35% stake.

Jefferies declined to comment. A Juul representative couldn't immediately be reached for comment.

3. Juul Labs said to seek $1 billion in funding

Illustration of a woman puffing out dollar signs after vaping.

• GoTab, the Arlington, Va.-based restaurant commerce platform, raised an $18m Series A led by Truist Ventures. https://axios.link/3rV7H16

• Ozlo Sleep, a sleep-focused audio tech startup founded by Bose vets, raised $10m in Series A funding co-led by LifeArc Ventures and Artis Ventures. www.ozlosleep.com

• New Water Capital acquired packaging companies Norwood Paper (Chicago) and BulkSak International (Gastonia, N.C.). www.newwatercap.com

• Fashionette, the German online luxury accessories retailer, will merge with The Platform Group, a Wiesbaden, Germany-based software company that connects retailers, dealers and customers. https://axios.link/47upEUL

• Wilmar International, a Singapore-listed agri-food major, is selling its 30.1% stake in Cosumar, a Moroccan sugar processor to "several Moroccan investors" for about 5.96 billion Moroccan dirhams. https://axios.link/3q6SkSU

4. Retail transactions

• Katy Obr, who worked in the M&A group of Credit Suisse, has been named senior associate of the investment firm Brand Velocity Group. Eric Schoenbach, who was at the investment firm Alpaca, was named an associate. https://brandvelocitygroup.com/

• Debra Perelman is stepping down as CEO, president and board member of the beauty company Revlon Group. Elizabeth Smith, Revlon's executive chair, will become interim CEO. https://axios.link/3YrvGBd

• Alberto Riva was named chief revenue officer of omnichannel retail platform XY Retail and Daniel Nizzero as director of solution strategy in the Europe, Middle East and Asia region. https://axios.link/3OePdQG

• Tim Stone, an Amazon vet, was named CFO of luxury fashion company Farfetch, succeeding Elliot Jordan, who will step down on Aug. 31. https://axios.link/3qos0U9

• Damola Adamolekun will step down as CEO of Asian-influenced casual dining chain P.F. Chang's China Bistro effective Aug. 1. Rohit Manocha, co-founder of TriArtisan Capital, P.F. Chang's owner, has been named interim CEO. https://axios.link/44SIaEq

• Roger White, the CEO of U.K. soft drinks company AG Barr, will leave the company within the next year. https://axios.link/43OT5gV

5. It's Personnel

🍝 What we're eating: Kim is going to get her fill of cannolis, sardines and Pasta alla Norma when she jets off to Sicily later this week. 

✏️ Big thanks to editor Michael Flaherty and copy editor Mickey Meece for today's edits.

Thank you for reading Retail Deals! See you again tomorrow.

August 03, 2023

1 big thing: Period care startup seeks seed round