FORT LEE, N.J., Aug. 2, 2021 /PRNewswire/ -- Creatd, Inc.
(Nasdaq CM: CRTD) ("Creatd" or the "Company"), the parent company
of Vocal, today announced the launch of Dune Glow Remedy ("Dune"),
a direct-to-consumer brand focused on promoting wellness through
its range of health-oriented beverages. The Company has
additionally announced that it has entered into a Memorandum of
Understanding ("MOU") to acquire a majority equity stake in
Dune.
Pursuant to the MOU, Creatd intends to acquire a 50.4% equity
stake in Dune in exchange for a combination of cash and stock. The
Company expects to execute definitive agreements early in the
fourth quarter 2021 and to close shortly thereafter, subject to the
completion of due diligence and other closing conditions. After
closing, Creatd will begin recognizing Dune's revenues in its
consolidated financial statements. Dune is expected to generate
between $500,000 to $1 million in net revenues over the next 12
months.
Commented Creatd CEO Jeremy
Frommer, "We are working to finalize our purchase of a
majority stake of Dune, as well as that of Wobble Wedge, as
announced last week. Together with Plant Camp, Creatd's first
acquisition in the e-commerce category, these transactions
represent a strong portfolio of majority-owned DTC brands, all of
which can benefit from direct access to Creatd's resources,
technology, and marketing expertise. We are confident that, with
Creatd's support, these brands can materially grow revenues in a
cost-efficient, timely, and scalable way, leveraging Vocal's
powerful network and first-party data to identify and activate an
enthusiastic and loyal consumer base."
The idea for Dune came after its founders, Tom Punch, Stephanie Roy
Dufault, and Mark De Luca,
identified an opportunity in an emerging area of the functional
beverage space: beauty. As a whole, the functional beverage market
has risen exponentially, having grown 360% since last year as
compared to 9% for the rest of the beverage market, according to
Bloomberg. However, the market has seen recent growth particularly
in the 'beauty from within' segment, referring to food and drink
products specifically designed for cosmetic purposes, suggesting
increasing awareness among consumers of the impact of nutrition on
one's physical appearance.
Dune's beverages are meticulously crafted with functional
ingredients that nourish skin from the inside out and enhance one's
natural glow. Explained Ms. Roy
Dufault, "The link between inner health and outer beauty has
never been so clear. Our unique beauty drink is designed not only
to make your skin glow but to foster that magic self-care moment we
all deserve."
Tom Punch brings more than a
decade of experience of immersion in the creator landscape and
unlocking value for high-growth consumer, internet, technology
brands. Prior to co-founding Dune, Mr. Punch was a lead executive
for YouTube giant WatchMojo, where he was actively involved in
strategic partnerships and corporate development. In his time
there, Mr. Punch helped turn WatchMojo into one of the leading
youth-oriented media brands in North
America. Stephanie Roy
Dufault has over a decade of communication experience,
specifically in the beauty and fashion market, where she developed
a keen understanding of brand and influencer partnerships.
Commented Mr. Punch, "As someone who has developed and launched
numerous internet consumer brands over the years, I have had unique
visibility into the necessity of disruptive marketing. Having the
support of Creatd, and access to their extensive resources and
expertise, means that an entrepreneur like myself can significantly
cut down on cost and time to market, and reach Dune's target
consumers faster and with greater impact."
About Creatd
Creatd, Inc. (Nasdaq CM: CRTD) is a creator-first technology
company and the parent company of the Vocal platform. Our mission
is to empower creators, entrepreneurs, and brands through
technology and partnership.
For news and updates, subscribe to Creatd's newsletter:
https://creatd.com/newsletter
Investor Relations Contact: ir@creatd.com
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SOURCE Creatd, Inc.