Emily Weiss is moving to Brooklyn
It was the second most expensive single-family sale ever in Brooklyn.
GOOD MORNING.
NEWS:
Miu MIu’s sales have jumped 89%. That’s insane – the brand’s viral micro-skirt trend has been followed up by wardrobe staples that put a contemporary spin on relatable references like preppy, collegiate dress or retro office wear (cough cough corporate fetish), driving surging sales to a new generation of customers.
Skky Partners, the private equity firm backed by Kim Kardashian, is having difficulty raising funds. I was at a dinner party last week and we spent about 15 minutes discussing the Kardashian family’s liquidity (they aren’t liquid). By the numbers: SKKY only secured $121 million in capital commitments through late March, according to federal securities filings. But they’ve only raised $41mm of money for non-Truff (hot sauce) investments!!! SKKY also has something of a double-edged sword in Kardashian.
On the one hand, Kim has a demonstrated ability to build large consumer brands and can attract the sort of inbound interest that other dealmakers can only dream about. Skims, for example, is now worth $4 billion.
On the other hand, she has a surplus of other demands on her time, and her celebrity could cause some institutional investors to flinch at presenting SKKY to stodgy investment committees (particularly those old enough to recall the Elevation Partners/Bono fiasco). Expect family offices to be more amenable.
Last year was Malin + Goetz’s biggest year for business. Awesome interview with the brand for their 20th anniversary.
Zyn is probably the fastest growing CPG product in 50 years. Q1 usage is now at 131.6mm - which means they’ve had 80% YoY growth.
The Puck podcast has launched. Lauren is an excellent host. I appreciate how she pushes back on her guest when he says, “Don’t fact check my Tweets on this show.” Fun fact: she reveals she lives with a Steve Jobs expert.
Emily Weiss is moving to Brooklyn. It’s the second most expensive single-family sale ever in Brooklyn.
Alex Cooper got married. No notes.
This is the nicest profile that Brock has ever written. We all love Pierce.
Montauk shrimp is trending at New York restaurants. Most of the shrimp we buy at the fish market, grocery store, or at a restaurant comes from abroad, which carries with it a multitude of issues, from forced labor to the high carbon footprint caused by shrimp farming.
Didn’t know the University of Maine has the world’s largest 3D printer. Public schools FTW. They’re using the printer to make pretty cool looking houses.
Money is pouring into start-ups that help women manage menopause. Midi Health has raised $60mm in a funding round led by the Emerson Collective, the business and philanthropic organization founded by Laurene Powell Jobs. Investor and government focus on women’s health is rising. Companies that help women manage symptoms raised $230mm in 2023, a 22% bump from 2022, according to CB Insights.
See ya tomorrow.
I immediately cued up the Sherman podcast and loved the tension between she and Jacob.
Omg elevation partners!!! Pour one out for my first client as a 22yo junior associate. Roger McNamee, you were so nutty and so nice.