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Oral Care Brand Hello Receives Strategic Investment
Posted: March 19, 2013
Oral care brand Hello Products LLC received financing from a group of strategic investors led by Tenth Avenue Holdings for the company's line of unique, branded oral care products designed in partnership with BMW Group DesignworksUSA, the global design subsidiary of BMW Group. The company's proprietary Hello branded products will debut in March at various food, drug and mass retail stores nationwide.
Joel Citron , co-CEO of Tenth Avenue Holdings, stated, "We see great promise for Hello to shake up a staid category and give consumers a brand and experience they can really embrace. We believe that Hello's products bring a velocity of change—comparable to the technology industry—to the stasis of the oral care aisle, which looks today a lot like it did 30 years ago. As a firm, we are always interested in brands and products that relate to how consumers see the world and themselves, and Hello's philosophy and design-centric, 99% natural positioning make for a perfect fit."
He added, "Because Tenth Avenue Holdings is privately held, we have no restrictions, and our singular focus is investing in opportunities with the outsized potential for long-term growth. We believe in Craig and the power of Hello, and we plan to build this relationship, and our mutual success, for the long haul."
"We are extremely fortunate to attract such a stellar group of investors and advisors," said Craig Dubitsky , Hello's founder and CEO. "This unique group of partners brings an unparalleled depth of operating experience, insight, key relationships, and financial resources to the table. It's truly a dream team, and we can't wait to create the future together."
Harmony Partners co-founder Mark Lotke noted, "Craig has assembled a great constellation of partners that will enable Hello to make a significant impact in a category that hasn't seen material innovation in decades. We are extremely excited to be a part of what we feel will be the next major success story in the consumer space."
The company has also established a strategic board of advisors, with deep domain expertise across consumer packaged goods, branding, marketing and merchandising. "I spent a lot of time in the oral care aisle during my 36-year retail career and learned not to expect a lot of excitement," said Chris Bodine, an investor and member of Hello's advisory board, and previous EVP of merchandising and marketing and president of healthcare services at CVS Pharmacy. "When Craig introduced me to Hello, I knew I had to be a part of it. Hello is innovative, revolutionary and disruptive—and totally appealing. I strongly believe that once shoppers discover Hello, they'll wonder why they ever settled for anything else."
In addition to rolling out its products nationwide, the company plans to use the financing to invest in proprietary packaging, inventory, marketing and retail development, as well as continue to invest in new product development and sales expansion.