Company type | Public |
---|---|
Industry | E-commerce |
Founded | 2012 |
Founder | Stuart Landesberg |
Headquarters | San Francisco , U.S. |
Area served | World |
Key people | Stuart Landesberg ( Chief Executive Officer) |
Number of employees | 500 to 600 [1] |
Website |
www |
Grove Collaborative is a benefit corporation headquartered in San Francisco. The company is an e-commerce retailer that sells natural household and personal care beauty products.
Grove Collaborative makes and sells its own environmentally friendly [2] home and personal care beauty products, as well as those of third-party companies. [3] [4]
The company was founded in 2012 by CEO Stuart Landesberg under the name ePantry. In 2016, it was rebranded as Grove. [3]
In 2021, Grove Collaborative had pledged to be plastic-free by 2025. [5] [6] It partnered with Plastic Bank and rePurpose Global to collect and recycle ocean-bound plastic to offset its plastic footprint. [5]
On April 18, 2021, Grove began a brick-and-mortar partnership with nationwide retailer Target Corporation, which carries some of its products. [7] [5]
In December 2021, Grove Collaborative merged with a special-purpose acquisition company backed by Sir Richard Branson’s Virgin Group. [2] Unilever PLC’s CEO, Paul Polman has been named as a partner in the venture. Landesberg will continue to lead Grove. The merger includes taking the company public, which is valued at $1.5 billion. The combined company will be listed under “GROV” on the New York Stock Exchange. [3]
As of the end of 2021, Grove raised $436 million in capital. [4] In association with the December 2021 merger, $87 million would be raised in a private investment in public equity. The Virgin Group SPAC trust would provide an additional $348 million. [3] [8]
In July 2022, retailers Kohl’s, Meijer and Giant Eagle began carrying products from Grove Co.’s cleaning line. This brick-and-mortar retail partnership includes educational end cap displays to educate customers on reducing plastic waste. [9]
Grove Collaborative officially went public June 17, 2022, on the New York Stock Exchange via its SPAC merger with Richard Branson’s Virgin Group Acquisition Corp. [10] [11]
2022 Q1 revenue declined by 11% compared to Q1 2021. [11]
The company laid off 17% of its workforce not long after the Virgin SPAC merger to cut operating costs. [11]
Grove Collaborative was chosen by Fast Company as one of their top innovative companies for 2022. [10]
In April 2022, actress and entrepreneur Drew Barrymore became an investor in Grove Collaborative. [12] She is the company’s first global brand and sustainability advocate. Barrymore will also work with the product development team to help the company achieve its goal of being plastic-free by 2025. [13]
In February, former Burts Bees executive John Replogle was appointed chairman of Grove Collaborative’s board of directors. [11]
In early 2022, Grove Collaborative named Sergio Cervantes as its new CFO. Cervantes spent 18 years with Unilever and four years with Gillette. [13]
In 2021, Grove Collaborative hired former Amazon executive Jennie Perry to serve as its chief marketing officer. [14] Grove has offices in San Francisco, Portland, Maine, and Durham, North Carolina. [1]
Company type | Public |
---|---|
Industry | E-commerce |
Founded | 2012 |
Founder | Stuart Landesberg |
Headquarters | San Francisco , U.S. |
Area served | World |
Key people | Stuart Landesberg ( Chief Executive Officer) |
Number of employees | 500 to 600 [1] |
Website |
www |
Grove Collaborative is a benefit corporation headquartered in San Francisco. The company is an e-commerce retailer that sells natural household and personal care beauty products.
Grove Collaborative makes and sells its own environmentally friendly [2] home and personal care beauty products, as well as those of third-party companies. [3] [4]
The company was founded in 2012 by CEO Stuart Landesberg under the name ePantry. In 2016, it was rebranded as Grove. [3]
In 2021, Grove Collaborative had pledged to be plastic-free by 2025. [5] [6] It partnered with Plastic Bank and rePurpose Global to collect and recycle ocean-bound plastic to offset its plastic footprint. [5]
On April 18, 2021, Grove began a brick-and-mortar partnership with nationwide retailer Target Corporation, which carries some of its products. [7] [5]
In December 2021, Grove Collaborative merged with a special-purpose acquisition company backed by Sir Richard Branson’s Virgin Group. [2] Unilever PLC’s CEO, Paul Polman has been named as a partner in the venture. Landesberg will continue to lead Grove. The merger includes taking the company public, which is valued at $1.5 billion. The combined company will be listed under “GROV” on the New York Stock Exchange. [3]
As of the end of 2021, Grove raised $436 million in capital. [4] In association with the December 2021 merger, $87 million would be raised in a private investment in public equity. The Virgin Group SPAC trust would provide an additional $348 million. [3] [8]
In July 2022, retailers Kohl’s, Meijer and Giant Eagle began carrying products from Grove Co.’s cleaning line. This brick-and-mortar retail partnership includes educational end cap displays to educate customers on reducing plastic waste. [9]
Grove Collaborative officially went public June 17, 2022, on the New York Stock Exchange via its SPAC merger with Richard Branson’s Virgin Group Acquisition Corp. [10] [11]
2022 Q1 revenue declined by 11% compared to Q1 2021. [11]
The company laid off 17% of its workforce not long after the Virgin SPAC merger to cut operating costs. [11]
Grove Collaborative was chosen by Fast Company as one of their top innovative companies for 2022. [10]
In April 2022, actress and entrepreneur Drew Barrymore became an investor in Grove Collaborative. [12] She is the company’s first global brand and sustainability advocate. Barrymore will also work with the product development team to help the company achieve its goal of being plastic-free by 2025. [13]
In February, former Burts Bees executive John Replogle was appointed chairman of Grove Collaborative’s board of directors. [11]
In early 2022, Grove Collaborative named Sergio Cervantes as its new CFO. Cervantes spent 18 years with Unilever and four years with Gillette. [13]
In 2021, Grove Collaborative hired former Amazon executive Jennie Perry to serve as its chief marketing officer. [14] Grove has offices in San Francisco, Portland, Maine, and Durham, North Carolina. [1]