MMG Advisors, Inc.

NEWS WE’VE FOLLOWED THIS WEEK: The U.S. Federal Reserve left interest rates unchanged. Feb'25 core retail sales were up 0.9% vs Jan'25 but down 0.2% vs Feb'24, reports the NRF. The University of Michigan’s Index of Consumer sentiment fell 11% in March'25, hitting its lowest level since Nov'22. M&A AND FINANCING NEWS Poppi (prebiotic soda) was acquired to PepsiCo for $1.95B. GUESS?, Inc. (fashion retailer) received an offer from WHP Global to acquire Guess' outstanding shares at $13.00 in cash (a $752M valuation). Look Beauty Inc (skincare) was acquired by Upper Canada Soap . Gallet (watch brand) was acquired by BREITLING. Alanui Founders bought back their brand from New Guards. The IP rights of Maison Goutal (fragrance brand) were sold by AMOREPACIFIC Europe to Interparfums SA. Tastemade (food media) was acquired by Wonder. 8Greens (nutritional supplements) was acquired by Grove Collective. Gibbs Die Casting Corporation (machine parts) was sold by Koch Enterprises to Architect Equity. TheDeal (investment data provider) was acquired by With Intelligence Encore (fire protection services) was sold by Levine Leichtman Capital Partners, LLC to Permira. HighGround Restoration (water damage mitigation) was sold by Trivest Partners to Knox Lane. Grey Mer (Italian shoe manufacturer) sold a 70% stake to CHANEL. Beatbox Beverages (alcoholic punch) sold a minority stake to Shaquille O'Neal. Zulily (digital marketplace owned by Beyond) sold a 75% interest to Lyons Trading Company. Bouclair (Canadian home decor brand) entered into a $20M credit facility from Second Avenue Capital Partners (SACP) Partners. Daniel's Jewelers (jewelry retailer backed by Palladium Equity) entered into a line of credit from SLR Credit Solutions. Yepoda (beauty brand) raised capital let by Verlinvest. Swatch Group's CEO announced the Company is looking for a partner to "help take us private". Hudson's Bay (Canadian retailer) announced the Company would liquidate unless last-minute financing can be secured. PUBLIC COMPANY NEWS The following public companies announced earnings this week: Anta Sports, Citi Trends, J. Jill, Ollie's Bargain Outlet, Signet Jewelers, Waldencast, Williams-Sonoma & Lands' End. EVENTS MMG Advisors, Inc. will attend LIM College's "Symposium on AI in the Retail Sector" on March 26 - please let us know if you are also planning to attend! MMG is excited to attend the Shoptalk conference next week, and will be co-hosting a private dinner event that Wednesday with Flagship, Hello There Collective, Simplistic, Ekyam, and Fluency Firm.?Should you be interested in attending on March 26th, please see the event details and RSVP link below: https://lnkd.in/ezy99sfv (reference MMG as your invitation) BEFORE YOU GO NCAA Basketball March Madness tipped off last week, with the women's tournament starting Thursday, March 20, and men's games beginning Friday, March 21.

NEWS WE’VE FOLLOWED THIS WEEK: Inflation rose 2.8% in Feb'25 vs. a year prior, reported the Labor Department. Consumer sentiment index fell to 57.9 in March from 64.7 in February, per University of Michigan. Retail sales in Feb'25 rose vs Jan'25 but with moderating growth, says a new report by CNBC/NRF Retail Monitor. The U.S. online grocery segment jumped 31% vs last year, per Brick Meets Click/Mercatus Grocery Shopper Survey in February 25. ? M&A AND FINANCING NEWS Author Solutions, LLC (book publishing) was acquired by Center Street Ventures from The Nafaji Companies. Willamette Valley Meat Co (protein) was acquired by Bochi Investments. Varsity Brands (sports uniforms) raised a strategic investment from Patricof Co (P/Co). Leo France (costume jewelry) sold a 20% stake to CHANEL. Business & Pleasure Co. (lifestyle / outdoor products) raised $16M from Silas Capital, among others. indē wild (skincare) raised $5M from Unilever Ventures. wildwonder (probiotic beverages) raised a line of credit from Assembled Brands Capital. Kooples was acquired by Verdoso from MF Brands. KNS & Centre Partners acquired Birdies. Vera Bradley announced they are exploring strategic alternatives for Pura Vida (accessories brand). SBLA, Inc. (Clean Beauty, Lipfusion) filed for Chapter 11. hims & hers announced the wind-down of Apostrophe (tele-dermatology). PUBLIC COMPANY NEWS The following public companies announced earnings this week: Allbirds, American Eagle Outfitters, Dick's Sporting Goods, Golden Goose, Grove Collective, Inditex, Kohl's, Mango, Puma, Solo Brands, Stitch Fix, and Vera Bradley. ? BEFORE YOU GO The 2025 March Madness NCAA men's basketball tournament starts with Selection Sunday on March 16.

The Retail Marketing Society's next webinar, "Navigating Tariffs: An Ever-Changing Kaleidoscope" will be?on Wednesday, March?19?@ 12:00 noon EDT on Zoom. Our featured speaker is Jim Pratt, Co-Founder and Managing Partner at Forsyth Advisors, a leading global supply chain consulting firm. Jim is one of the country's leading experts on tariffs and their impact on operating and pricing strategies. For more information visit?https://lnkd.in/eVp_SUMq.?

NEWS WE’VE FOLLOWED THIS WEEK: U.S. employers added 151,000 new jobs in Feb'25, reported the Labor Department, with the unemployment rate ticking up to 4.1% from 4.0% last month. According to the University of Michigan, these results indicate a fundamentally healthy labor market with slightly slower than expected growth.? US-based employers last month announced plans to reduce 172,017 jobs.?This is over 2x more than January’s job reductions, as per the latest?job cuts report. The largest cuts came from the government sector. The European Central Bank cut interest rates as expected with the deposit rate reduced to 2.5%. It left the door open for more cuts with increased military spending predicted and trade issues looming. Virtually all (99.9%) U.S. households purchased a private label grocery item in the past 12 months, followed by health & beauty (99.2%), household products (98.9%) and home & garden (97.9%), according to a new Private Label Trends report from Numerator. Tariff negotiations are ongoing with China, Canada and Mexico and plans for reciprocal tariffs being developed. Every day brings a new headline, and as of publication time, most new tariffs on Mexico have been delayed until April 2.?Pay careful attention as these changes develop. M&A AND FINANCING NEWS Walgreens to be acquired by Sycamore Partners and go private in a deal valued around $10 Billion. Carol’s Daughter (haircare brand owned by L'Oréal) was sold to an unnamed beauty entrepreneur. Stanley Korshak (Dallas-based specialty stores) was acquired by Mitchells Stores. Dutch Gold Honey, Inc was acquired by New Water Capital, L.P. Capital. Estex Manufacturing Company (industrial fabrics) was acquired by Shorehill Capital LLC. Business & Pleasure Co. (outdoor furniture) raised a $16M investment from Silas Capital. The Picklr (indoor pickleball) signed leases for ~3M sq ft. of space across the U.S. and Canada. The Whitebriar (restaurant in Avalon, NJ) was purchased by the The Union League of Philadelphia. PUBLIC COMPANY NEWS The following public companies announced earnings this week: Abercrombie & Fitch, Adidas, Best Buy, Burlington, JD.com, Macy’s, Victoria Secret, Zalando, Foot Locker, Nordstrom, Olaplex, On, Prada, Ross Stores, Target, and ThredUp. BEFORE YOU GO Daylight Savings Time begins Sunday, March 9. Bellemint (Revolve's fashion video game) was released worldwide on March 5.

NEWS WE’VE FOLLOWED THIS WEEK: Jobless claims rose last week and likely noted to be “noisy” data, as reported by Department of labor. Online footwear sales fell 0.6% to $3.75B, per the FDRA’s Annual E-Commerce Survey, the third consecutive year of downturns. 2024 global beauty sales grew 7.3% vs last year with 41% of U.S. sales driven by online shopping, per NielsenIQ (NIQ). Feb’25’s Conference Board’s Consumer Confidence Index fell for the third-straight month in the largest monthly decline since August 2021, with consumer expectations for higher inflation reportedly increasing for the remainder of 2025. M&A AND FINANCING NEWS Pari Beauty (“pro-aging” skincare) was acquired by Luxury Brands LLC. LLC in partnership with The Dodo Group. Alani Nu (energy drinks) was acquired by Celsius Holding for $1.8B. Northern Reflections (Canadian womenswear retailer) was acquired by Putnam Investments. Fraser Steel (Steel fabricator) was acquired by Kinzie Capital Partners LP. Blue Monkey Beverages (tropical fruit juice) was acquired by Boyne Capital. The Spice Factory (spice manufacturer) sold a majority stake to Gimv. Deconstruct and Arata (Indian beauty brands) both raised investments from Bold (L'Oréal’s venture fund). SNUGGS (period underwear) raised €5M from TripleB Capital. TrueGolf Links (golf simulator) raised $2M from Nexus Golf. Fara Homidi (makeup brand) raised funding from Sandbridge Capital. Joann (arts & crafts retailer) announced it would close all its stores after the Company’s assets were acquired by a liquidator. REI?raised $230M via a series of leaseback deals for four of its distribution centers. CohnReznick LLP announced an investment by Apax Partners. ? PUBLIC COMPANY NEWS The following public companies announced earnings this week: Amer Sports, Arhaus, Beyond Inc., Big 5, Camping World, Carter’s, Dillards, Hims & Hers, Home Depot, Kontoor Brands, Lowe’s, ODDITY Tech, Revolve, Rocky Brands, Salomon Sneakers, Steve Madden, The ODP Corporation, TJX, Topgolf Callaway Brands, and Wilson Sports. EVENTS On March 5th our Allan Ellinger will attend the American Apparel & Footwear Association (AAFA)'s Executive Summit in Washington DC. To learn more or get tickets click here: https://lnkd.in/eVqDqaxV BEFORE YOU GO It was announced that the first Esports Olympics will be held in 2027. Welcome March!

NEWS WE’VE FOLLOWED THIS WEEK: US consumer declined in February for the second month driven by worries over tariffs and inflation, per University of Michigan survey. Jan’25 retail sales fell by 90 bps vs. last month (greater than economists predicted and the largest decline in nearly two years), reported the Census Bureau. Retailers cut 6,419 jobs in Jan’25 (up 20% vs Jan’24), reported outplacement firm Challenger, Gray, & Christmas. Jewelry was the “most resilient” core luxury segment in 2024 with sales reaching €31 billion, reports Bain & Company. Amazon gains creative control of the James Bond franchise. M&A AND FINANCING NEWS Helly Hansen (outerwear brand owned by Canadian Tire) was sold to Kontoor Brands, Inc. for CAD$1.28B ($898.8M). Stuart Weitzman (shoe brand) was sold to Caleres, Inc. by Tapestry for $105M in cash. Galaxy Universal (footwear maker backed by Gainline Capital Partners) acquired Reebok’s global product creation, sourcing, and footwear operations in the U.S. Huda Beauty sold its’ Kayali fragrance line to the brand’s co-founder and buying back the ownership interest TSG Consumer Partners has held since 2017. GameStop (video game retailer) announced it would sell its Canadian and French operations as the Company seeks to shrink its global footprint. Ahelm (luxury eyewear) raised a minority investment from 1686 Partners. Gordon Ramsay Restaurants (restaurant chain) raised capital from Lion Capital. Borntostandout (Korean fragrances) raised a Series A from Touch Capital. PUBLIC COMPANY NEWS The following public companies announced earnings this week: Etsy, Oniverse, OTB Group, Perfect Movement, Walmart and Wolverine Worldwide EVENTS MMG Advisors, Inc. is thrilled to be attending the 2025 American Apparel & Footwear Association (AAFA) Executive Summit. We attended the Fashion: Commerce Innovation Summit co-hosted by M13 Ventures & Google; thoughtful programming with AI, including?Passport Global’s www.trumptradetracker.com. BEFORE YOU GO The Four Nations Face-Off Hockey tournament ran through Thursday, February 20. Almost time for March Madness. Baseball Spring Training kicks off this week!

NEWS WE’VE FOLLOWED THIS WEEK: Inflation grew by 3% in Jan’25, reported the Commerce Department, with egg prices up 15% (the largest gain since June 2015). Prestige Beauty sales hit $33.9B in 2024, reports Circana, up 7% vs. 2023. Gen Z plans to spend more on Valentines Day this year budgeting $235 for the holiday vs the average overall of $155, per a CouponFollow survey. Jewelry, going out and flowers are the most popular gifts for a record spedn of $27.5 billion per the National Retail Federation. M&A AND FINANCING NEWS MCoBeauty (beauty brand) was acquired by DBG Group. Palm Angels (luxury streetwear brand backed by New Guards Group) was acquired by Bluestar Alliance LLC. Kurt Geiger (footwear brand) was acquired by Steve Madden from Cinven Group. Wander Beauty (beauty brand) was acquired by NamelessCPG. Wild (British personal care company) was acquired by Unilever. Studio Barre (fitness class franchise) was acquired by barre3. Grove Collaborative acquired Grab Green. Creative Labs (contract-manufactured personal care) was acquired by Gemspring Capital. Hancock Askew & Co., LLP (accountancy) was acquired by Baker Tilly. ALDI USA sold its’ subsidiary banners Southern Grocers, Winn-Dixie, and Harvey’s to a consortium of investors led by management. Henkel (XXX) sold its’ North American home cleaning product divisions to First Quality Enterprises, LLC. Prima (CBD beauty and wellness brand backed by The Hedgehog Co.) was acquired by Sky Marketing Corp. Archive (resale platform) raised a $30M Series B from Energize Capital, among others. Greyson Clothiers (golf apparel) raised a #20M Series A from NewBound Venture Capital and Justin Timberlake, among others. Everest (haircare brand) raised capital from Sandbridge Capital. Pickleheads (pickleball) raised a $2.5M seed round from Overline, among others. The IP and wholesale operations of Party City was sold to Ad Populum for $20M. PUBLIC COMPANY NEWS The following public companies announced earnings this week: BasicNet, Coty, CVS Health, Delta Galil, Fenix Outdoor, Kering, Mytheresa, HanesBrands, Moncler, EssilroLuxottiva, Sally Beauty and Yeti. EVENTS MMG Advisors, Inc. is excited to attend the 2025 AAFA (American Apparel & Footwear Association (AAFA)) Executive Summit to discuss how trust and transformation can drive innovation and long-term success. BEFORE YOU GO As of press time, only 35 more days until Spring!?

NEWS WE’VE FOLLOWED THIS WEEK: The US economy added 143,000 jobs in January, fewer than expected, and unemployment rate around 4%. The Bank of England cut its benchmark interest rate by 25 bps, as British economy weakens. Levin Management Corporation 14th Retail Outlook Sentiment Survey reveals store managers enter 2025 with a favorable attitude for sales volume. Tariff policy continued to evolve this week, so follow closely for current status: China 10% tariff increase took effect, and de minimis treatment for goods from China, Mexico and Canada was revoked.?Mexico and Canada tariffs are on hold for 30 days pending other agreements. M&A AND FINANCING NEWS L’Oreal became a minority investor in JACQUEMUS (French fashion brand). Taos Footwear raised debt and investment capital of $65 M from Prospect Capital. Hakkawise (e-comm acquirer)?acquired Wolf Project (mens skincare). Kering Sold its Italian outlet business to Simon Property Group for $365 M. Beyond, Inc. will acquire the Buy Buy Baby brand rights for $5M. Beanstalk was acquired by JPE Investments and other family offices. Archive (resale tech) raised $30M led by Energize Capital. Deconstruct (DTC skincare) raised $7.7 M from L'Oréal VC fund, V3 Ventures and DSG Consumer Partners. Spindrift Beverage Co, Inc. received an investment from GRYPHON. kdc/one acquired Maesa’s European operations(skincare/ scents). Tempur Sealy International competed its acquisition of Mattress Firm Group previously announced. Mezcla (protein snacks) received line of credit from Assembled Brands. Walmart acquired a Pittsburgh area mall for $34M. Bargain Hunt filed for Chapter 11. Liberated Brands filed for bankruptcy after having its license agreement with ABG (for brands such as Billabong, Roxy and Quiksilver) terminated.? Peavy Mart, Canadian retailer, is closing its locations with Gordon Brothers. EVENTS Thursday February 20th MMG Advisors, Inc. will attend the Fashion Commerce Innovation Summit. To learn more visit : M13 site BEFORE YOU GO Can Mahomes become the undisputed GOAT? Can the Eagles stop him? Football fans seem ready for Super Bowl LIX’ commercials, food and the game! May your team win.??

NEWS WE’VE FOLLOWED THIS WEEK: The Federal Reserved paused its’ decision to lower interest rates, opting to keep borrowing rates at 4.25% - 4.5%. US GDP grew by 2.5% in 2024 (slightly slower than 2023’s 3.2% pace), per the Commerce Department. Multiple retail consumer industry reports were released this week – Bain & Company predicted U.S. retail sales will grow at least 4% in 2025 vs. last year, Deloitte forecasted overall consumer spending to grow at least 3%, and the National Retail Federation forecasted that consumers will spend a record $27.5B on Valentines Day. M&A AND FINANCING NEWS Stella McCartney (designer) bought back her eponymous brand from LVMH. Megabass Inc. (premium fishing) entered into a strategic partnership with L Catterton to scale across Japan and the U.S. Vent Covers (cabinet hardware e-tailer backed by Comvest Private Equity) was acquired by Renovation Brands. Pasture Brands, backed by Benford Capital Partners, was sold to Pete & Gerry's Organics, LLC Organics (specialty eggs). PANGAIA (apparel brand) sold a majority stake to Royal Group LLC. Golden Goose (Italian luxury sneakers) sold a 12% stake to Blue Pool (Hong-Kong based family office of Alibaba co-founder Joe Tsai). ShopMy (creator marketing) raised a $77.5M Series B from Bessemer Venture Partners and Bain Capital Ventures. Hone Health (telemedicine) raised a $33M Series A from Tribe Capital , among others, and acquired ivee (in-home healthcare services). 111SKIN (skincare) raised a significant minority investment from SKKY Partners. DAMDAM Tokyo (Japanese skincare) raised a $3M seed round from Silas Capital. The British Fashion Council (trade group) secured a ￡1M grant from the UK government. Zyloware Eyewear (eyewear) raised an investment from CenterGate Capital. Authentic Brands Group and Versa Group enter a strategic partnership for dress shirts. The Container Store (retailer) exited bankruptcy as a private business under the ownership of lenders (incl. Golub Capital, Wells Fargo and LCM Asset Management ), slashing $88M in debt and injecting $40M in new financing. Peavey Mart, Canadian retailer, will close all of its locations with Gordon Brothers. PUBLIC COMPANY NEWS The following public companies announced earnings this week: Burberry, Dr. Martens, Ermenegildo Zegna, LVMH, Puma, and VF Corp. BEFORE YOU GO Groundhog day is Sunday, February 2.?

NEWS WE’VE FOLLOWED THIS WEEK: The lack of clarity surrounding impending tariffs on goods is depressing M&A activity in the consumer sector, according to a report by The PE Hub. Brand Finance’s 2025 Global 500: World’s most valuable brands report was released this week; Apple took the top spot with a value of $574.5B (+11% vs 2024), trailed by Microsoft with a value of $461B (+42%). Coresight Research predicts 15,000 store closings in the U.S. in 2025. The World Economic Forum was held in Davos, Switzerland with lots of news following. ? M&A AND FINANCING NEWS Vince Holdings (fashion brand) was acquired by P180 with Brendan Hoffman returning as CEO and investor. Skin Rx (skincare brand) was acquired by American Exchange Group. SKKY Partners made a minority investment in 111SKIN. Infinite Reality (AI technology)?acquired Obsess (AI technology). SportPet Designs, Inc., a Topspin Consumer Partners company, acquired Mammoth Pet Products (dog toys). IMS Technology Services (audiovisual) raised an investment from Gainline Capital Partners Leap (retail platform) raised $20M in capital from Tribeca Venture Partners and DNX Ventures - US. Gloss Ventures (beauty brand incubator) raised $15M from Peterson Partners. S&W Seed Company Americas Company (agriculture) raised a $25M senior secured credit facility from Mountain Ridge Capital. Books filed for Chapter 11 to reorganize. Sneakersnstuff filed for Chapter 11. ? EVENTS Make sure to check out The Lead’s Foremost 50 Forum, which is an invite-only celebration featuring CEOs & Founders from brands on the Foremost 50 List, alumni from the previous year’s list, and other executives leading marketing, ecommerce, stores, and more at Foremost 50 challenger brands, as well as incumbent enterprise brands. Apply To Attend ? BEFORE YOU GO The Lunar New Year will begin on Wednesday, January 29, and will end on Wednesday, February 12. Delivering Good, Inc. Good is committed to supporting those affected by disasters. If you're able, please consider donating to help those in need in California. Click here to donate: https://lnkd.in/e2hXGe4e