This audio is auto-generated. Please let us know if you have feedback.
Dive Brief:
- DTC baby products brand Lalo has closed on a new round of funding with consumer venture group Forecast Labs, according to a company press release.
- Forecast Labs, a division of Comcast, has previously worked with such brands as Blueland, Smalls and Tovala. The raise was part of an earned equity structure with Forecast, per the company.
- Lalo plans to use the undisclosed amount of capital to grow the business through new product launches and marketing opportunities provided from Forecast Labs, which “gives access to a one of a kind TV advertising program,” Gregory Davidson, CEO and co-founder of the brand, told Retail Dive.
Dive Insight:
The new funding development comes after Lalo last June raised $10.1 million in a Series A funding round from investors led by Spin Master Ventures, with additional participation from Babylist, Kevin Durant and Rich Kleiman's 35V and Ilia Beauty Founder Sasha Plavsic's Untold Holdings.
"Lalo's unmatched commitment to sustainability and families is part of what led us to work with them at this time. Their products are thoughtfully created and tested, leaning on modular design, to produce less clutter for busy families and to offer multiple uses,” Kyle Peters, an investor at Forecast Labs, said in a statement. “Via our first-of-its-kind TV advertising program, we know we can help grow Lalo by putting them in front of many new consumers. The Lalo mission and message resonates with modern parents and grandparents."
Lalo was founded in 2019 by Davidson and Michael Wieder. The company sells a variety of products including high chairs, bibs, play gyms and more. Since its founding, the company has expanded its assortment to include products for mealtime, bath time and playtime. Recently, the company launched a line of developmental toy boxes that customers can purchase individually or through a subscription.
Part of Lalo’s business model is interaction with communities to reach more families who may become customers. The brand’s Lalo-Palooza outdoor free music concert series launched in March in Miami and features tunes from Jam with Jamie and kid-friendly activities hosted by State of Kid.
Lalo saw a 70% increase in sales year over year in 2023 and expects continued growth in 2024, Davidson told Retail Dive via LinkedIn message. All sales come via the brand’s website as well as through the websites of Pottery Barn Kids, Amazon and Babylist. The company is exploring opportunities to sell products in brick-and-mortar retailers, Davidson said.
via https://www.aiupnow.com
Howard Ruben, Khareem Sudlow
