Candy For Grown-Ups
Americans love their sweets. In the U.S., the market for confectionaries — candies, cakes, chocolates — is $42 billion.
But leading brands in this market lack imagination. Furthermore, they often box themselves into one of two categories: products that are exclusively chocolate, or ones that are just for kids.
So where’s the household name synonymous with fun, artisanal sweets? Where’s the candy brand for grown-ups? The answer is Sugarfina.
Sugarfina is a candy brand for the adult palate, combining high-quality luxury candy with a fun, engaging aesthetic. It partners with artisan candy makers from around the world to create products ranging from gummies and cordials, to cocktail-infused candies and chocolate bars.
This company is a global brand that brings in nearly $30 million in sales a year. It has two franchise locations, as well as 25 retail stores. Its products are also sold in nearly 1,000 gourmet grocery stores, specialty gift stores, high-end department stores, and through e-commerce platforms including Amazon and Rakuten.
Sugarfina holds more than 50 patents and trademarks for its products. And it’s been featured in USA Today, People, US Weekly, Forbes, E!, and Food & Wine. It also has a growing social media presence, with more than 340,000 followers across its platforms, including celebrities and “influencers.”
Sugarfina is more than a candy maker. It’s a boutique luxury sweets brand. This company collaborates with food & beverage, entertainment, and lifestyle businesses to create memorable products and experiences. Notable collaborations include Tito’s Handmade Vodka, Casamigos, Hello Kitty, The Simpsons, and Hampton Water Rose.
With respect to its business model, Sugarfina has five sales channels:
• 38% of sales come from wholesalers in the U.S. and Canada.
• 34% come from e-commerce (its fastest-growing channel).
• 19% come from retail locations in North America.
• 7% come from custom corporate gifting.
• And around 2% come from international sales.
With additional capital, Sugarfina aims to expand its product line and scale distribution. Near-term plans include growing its specialty grocery store accounts, opening select retail stores throughout the U.S., and increasing distribution at a new centralized facility in Las Vegas. It’s also exploring wholesale expansion in Europe and Asia.
Scott has an impressive track record of developing businesses into high-growth enterprises. Throughout his career, he has raised more than $30 billion in capital, led or co-led more than $10 billion worth of M&A activity, and served as Chief Financial Officer for notable companies in the hospitality, lodging, and casino industries.
He began his career with PricewaterhouseCoopers, a professional services company, serving as a senior auditor. From there, he was Vice President of Finance with Marriott Corporation, a hotel chain.
He then shifted to Hilton Hotels to serve as its Treasurer, then became Chief Financial Officer with Park Place Entertainment, a casino business.
More recently, Scott became CFO of Levi Strauss, a clothing label, and then became President of Global Consumer Acquisition Corporation, an acquisition fund focused on the consumer and hospitality sectors.
From there, he was CFO of Bolthouse Farms, a food & beverage company that was once part of Campbell Soup Company, and was acquired for $510 million. After that, he was President of Neurobrands, a healthy beverage company.
Scott holds a Bachelor’s degree in Accounting from the University of Virginia and an MBA from Vanderbilt.
Juliette has spent 15 years transforming and expanding brands. Her expertise includes brand marketing and development, product marketing and development, and industry coaching.
She began her career with BP, a British oil and gas company, where she served as a strategy analyst and later an associate brand manager. After that, she became a marketing manager with L’Oreal, a beauty supplies company.
From there, she spent six years with L Brands, a retail business that owns brands including Bath & Body Works and Victoria’s Secret. While there, she was a brand development manager and increased makeup sales under the Victoria’s Secret brand from $30 million to $80 million in less than two years.
More recently, Juliette was a marketing manager with Sally Hansen, a beauty company. After that, she was a senior marketing manager with Sephora, a cosmetics brand. Prior to joining Sugarfina, she was Director of Brand Marketing with Hourglass Cosmetics and Lancer Skincare.
She holds a Bachelor’s degree in Marketing from the University of Illinois at Chicago.
Prior to joining Sugarfina, Ryan worked in the confectionary industry, spending seven years with Godiva Chocolatier. While there, he climbed from a district manager to Head of Retail.
Before that, he spent a decade with KB Toys, a toys & games retailer. He began his career as a store manager with Blockbuster, a video rental business.