Analyst Report: Upgrade for access Tbh Brings Celebrity Power to the Chocolate-Hazelnut Spread Market
Tbh -- co-founded by Stranger Things actor Noah Schnapp -- is a selling healthier, vegan alternative to Nutella. But the team may have some growing left to do.
- Details
- Company: tbh on Republic 2022
- Security Type: SAFE
- Valuation: $15,000,000
- Min Investment: $50
- Platform: Republic
- Deadline: Jan 20, 2023
A Strange New Competitor
Today, we’re going to be talking about two of the most famous things in the world: Nutella and the Netflix show Stranger Things.
What could these two possibly have in common?
Well, a star of Stranger Things has founded a company to compete with Nutella.
That’s right. Noah Schnapp (or “Will Byers,” as you may know him) is the co-founder of a hazelnut-chocolate spread company called tbh. But before we get into the nitty-gritty of Noah’s company, let’s set the stage by running through the history of Nutella.
Nutella, launched in 1964, is perhaps one of the most famous brands in the history of the world. You’d be hard pressed to find people who haven’t heard of it. It absolutely dominates the entire chocolate spread market with around 54% global market share. That makes sense. People love it. And because of that, the company has not changed its chocolate-hazelnut recipe whatsoever for nearly 60 years.
However, Nutella was launched during an era when cigarette commercials boasted that “doctors smoke Camels.” So it should come to no surprise that the spread’s aging recipe is extremely unhealthy.
And with millennials and Gen Z more focused on health and wellness, Nutella is in danger of losing market share. While its dominance currently continues, it’s never been this vulnerable to disruption.
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