Candy Is Big Business: Sugarfina Scores $35 Million Investment
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Sugarfina is coming to the Middle East, Europe and Asia
Luxury candy is big business–at least if you’re the founders behind Sugarfina, maker of some of our favorite specialist boozy gummies. The swanky sweets company just landed a $35 million investment from private equity firm Great Hill Partners and will be using the funding to scale sales across web, mobile, retail, wholesale and more.
The best news? If you live in a part of the world where Sugarfina doesn’t yet have a retail presence, well, a boutique could materialize in your neighborhood sooner than you think! The new investment will help the candy company expand into the Middle East, Europe, and Asia (there are currently only Sugarfina stores in the United States and Canada).
Launched in 2012 by Rosie O’Neill and Josh Resnick—who had “dreamed of opening a luxury candy boutique ever since their third date, a screening of Willy Wonka and the Chocolate Factory“—Sugarfina has grown to 24 boutiques and 14 shop-in-shops over the past five years alone. Last year, the brand posted nearly $25 million in revenue.
Read more at Food & Wine