Grove Collaborative Launches Grove Co. Rebrand with New Ready-to-Use Assortment in Beautifully Sustainable Aluminum Packaging

Rhea-AI Summary

Grove Collaborative Holdings, Inc. announces a rebrand and product launches for its flagship brand, Grove Co., ahead of Earth Month. The company focuses on sustainability, reducing plastic waste, and enhancing visibility on retail shelves. Key sustainability initiatives include low plastic intensity, plastic recovery, plastic avoidance, and conservation efforts. Grove Co. unveils a refreshed identity emphasizing aluminum packaging and fragrance illustrations to communicate sustainability and product experience. The company consolidates all owned brand products under the Grove Co. label to simplify the customer experience. Grove launches the 'Perfect Isn't Sustainable' campaign to promote progress over perfection in sustainability efforts.

Insights

Sustainability Expert

Grove Collaborative Holdings' focus on sustainability and reduction of single-use plastic is indicative of a broader trend in the consumer products industry towards environmental responsibility. By adopting aluminum packaging, the company is not only addressing consumer demand for eco-friendly products but also potentially reducing long-term costs associated with plastic use, such as waste management and potential regulatory penalties. The move towards a single brand strategy could streamline operations and strengthen brand recognition, likely leading to increased customer loyalty and market share.

However, the transition to eco-friendly materials and the consolidation of brands might come with short-term costs and risks. The initial investment in new packaging technology and potential consumer resistance to brand changes must be considered. Long-term, if successful, these strategies could lead to a stronger competitive position for Grove Collaborative in the growing sustainable consumer products market.

Market Research Analyst

The rebranding and sustainability initiatives of Grove Collaborative are strategically timed ahead of Earth Month, which may enhance the brand's visibility and appeal to eco-conscious consumers. The emphasis on aluminum, an infinitely recyclable material, aligns with increasing consumer awareness and regulatory pressure on companies to adopt sustainable practices. This could translate to a positive reception in the market, possibly reflected in the stock performance as investors increasingly factor in environmental, social and governance (ESG) criteria into their investment decisions.

It's also worth noting that by reducing plastic intensity and recovering ocean-bound plastic, Grove is positioning itself as a leader in sustainability, which may attract partnerships and collaborations that could drive future growth. However, the consolidation of brands under Grove Co. may require careful market education to maintain consumer trust and avoid confusion, which could influence the stock's volatility in the short term.

Financial Analyst

The reported reduction in plastic intensity and the avoidance of single-use plastic waste are significant metrics that could have a favorable impact on Grove Collaborative's cost structure and profit margins. By decreasing reliance on plastic, the company may see a reduction in raw material costs and a potential increase in margins, assuming the cost of aluminum does not offset these savings. Additionally, the company's sustainability efforts could open up access to sustainability-focused investment funds and tax incentives.

However, investors should monitor the company's ability to manage the costs associated with the rebranding and the consolidation of product lines. The financial implications of these moves will be important in determining their success. It is important to track subsequent quarterly reports to assess the impact of these changes on the company's bottom line and overall market performance.

The world’s first plastic-neutral retailer marks Earth Month with new innovation, a “Perfect Isn’t Sustainable” campaign, and recognition of core sustainability partners enabling the company to move consumer products Beyond Plastic™

SAN FRANCISCO--(BUSINESS WIRE)-- Grove Collaborative Holdings, Inc. (NYSE: GROV) (“Grove” or “the Company”), a leading sustainable consumer products company, Certified B Corporation, and Public Benefit Corporation, today announced a rebrand and product launches for its flagship owned brand, Grove Co., ahead of Earth Month. As part of a new brand strategy centered on customer needs and sustainability, the Company is providing updates on key sustainability initiatives and core partnerships to continue leading the industry beyond its reliance on single-use plastic waste.

Grove Collaborative is unveiling a refreshed identity for its flagship brand, Grove Co., as part of a multi-phase effort for the brand to own the space of beautiful sustainability, underscore its commitment to reducing plastic, and enhance its visibility on retail shelves. The packaging rebrand emphasizes aluminum as Grove Co.'s priority material selection, chosen for its scalability and sustainability, and features elevated fragrance illustrations as the central component to communicate the experiential nature of the products while delivering counterworthy pride. (Photo: Business Wire)

“Grove Collaborative is on a mission to make consumer products a force for human and environmental good — a mission we pursue each day by creating and curating planet-friendly, wallet-friendly, and efficacious products to support each customer’s sustainability journey,” said Jeff Yurcisin, Chief Executive Officer of Grove Collaborative. “Earth Month is an opportunity to celebrate the progress we’ve made with our customers and the impact from our values-aligned sustainability partners in moving the consumer products industry away from single-use plastic waste. And — when you consider only 5%¹ of plastic waste is recycled and 89% of ocean plastic is single-use plastic² — our mission is more critical now than ever before.”

This April, Grove celebrates the progress made on key sustainability goals, including:

• Certified B Corporation: Marking their tenth year as a certified B Corporation and fourth year as a Public Benefit Corporation.
• Plastic Intensity: Q4 2023 marked the lowest plastic intensity (pounds of plastic per $100 of net revenue) across the entire business, including owned brands and third-party products sold online and in retail stores. Grove’s plastic intensity was 1.07 pounds of plastic per $100 in net revenue in the fourth quarter of 2023, an improvement from 1.11 pounds in the third quarter of 2023 and 1.08 pounds in the fourth quarter of 2022.
• Plastic Recovery: Grove has collected more than 15 million pounds of single-use nature- and ocean-bound plastic since 2020 through their partnership with plastic recovery partners – including rePurpose Global.
• Plastic Avoidance: Grove has also helped to avoid 10.8 million pounds of single-use plastic since 2017, including 1.7 million pounds in 2023 alone, by offering a broad assortment of products that contain less plastic compared to other household brands.
• Conservation: Grove has completed its first year of partnership with The Nature Conservancy to support Indigenous-led conservation across 2 million acres in the Tongass Rainforest of Southeast Alaska.

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1}https://www.greenpeace.org/usa/news/new-greenpeace-report-plastic-recycling-is-a-dead-end-street-year-after-year-plastic-recycling-declines-even-as-plastic-waste-increases/
²https://www.unep.org/news-and-stories/story/single-use-plastic-has-reached-worlds-deepest-ocean-trench

Grove Co. Brand Updates & Initiatives

Grove Collaborative is sharing several updates related to its flagship brand, Grove Co., as part of a multi-phase effort for the brand to own the space of beautiful sustainability and earn a place in more customers’ carts and homes. Grove Co. is poised to be the first brand to marry industry-leading packaging innovation that helps consumers reduce their reliance on single-used plastic while delivering efficacious, delightful cleaning experiences that natural shoppers have come to expect.

Grove Co. Rebrand

Grove Collaborative today is unveiling a refreshed identity for the Grove Co. brand, aiming to enhance its visibility on retail shelves and underscore its commitment to reducing plastic. At the heart of the rebrand is the emphasis on Grove Co.'s material selection, particularly aluminum, chosen for its scalability and sustainability. The packaging highlights the brilliance of brushed aluminum as a symbol of reduced-plastic swaps while also delivering a counterworthy sustainability badge customers will be proud to showcase. Grove Co. products have been sold in powdered aluminum packaging since 2020, leveraging the infinitely recyclable material to help customers go Beyond Plastic™ with their consumer products.

On the design itself, the rebrand features elevated fragrance illustrations as the central component, helping to communicate the experiential nature of Grove’s natural origin fragrances. Dish soap and hand soap packaging are knocked-out negatives of one another, reserving the aluminum-forward version for dish soap — a more efficacy-driven category — and leaning into more color coverage on hand soap — traditionally a more fragrance-driven category. This allows for better differentiation between formats at-shelf while still letting scent unite the assortment overall through design.

All new products launched in 2024 and beyond will leverage the new artwork, while all existing product lines will transition to the new packaging throughout the year and as inventory is restocked.

Brand Strategy

In an effort to focus resources on bringing the most innovative products to market, Grove Collaborative is consolidating all owned brand products under the Grove Co. label. This includes streamlining the current Rooted Beauty personal care brand under Grove Co. while sunsetting the Good Fur, Honu, Peach, Sustain, and Superbloom brands. This update aims to simplify the experience for customers and further build Grove Collaborative’s owned product offering under a single brand.

“Perfect Isn’t Sustainable” Campaign

Grove Collaborative aims to meet conscientious customers wherever they are on their sustainability journey, whether they’re trail blazers leading the movement or those taking their first small steps to reduce their plastic footprint. The Company also knows that living a more sustainable life can feel complicated and overwhelming — especially in a world where it’s impossible to make perfectly sustainable choices 100% of the time.

That’s why beginning in April, Grove will champion the idea that “Perfect Isn’t Sustainable, Progress Is” — a rallying cry to think about sustainability differently — through a digital campaign across paid, social, email, and performance marketing channels. Instead of judging individual choices or others for not being perfect, Grove wants to celebrate all sustainable choices, starting with small, achievable ones. By choosing aluminum over plastic or purchasing a refill system instead of a single-use plastic product, customers can help move the consumer products industry away from single-use plastic and towards more sustainable solutions.

Grove Co. Innovation Launches

Ready-to-Use Assortment

The newest product offering from Grove Co. is a ready-to-use line of everyday home essentials in aluminum packaging, including hand soap, dish soap, and concentrated laundry detergent, making it more convenient than ever for customers to make sustainable choices. The new assortment aims to lower the barrier to sustainable home care by providing affordable, beautiful, reduced plastic offerings at an entry price point without the need for a durable dispenser. The hand soap will retail at $3.99 and the dish soap will retail at $5.49. Grove Co.’s ready-to-use concentrated laundry detergent, retailing for $9.99, comes in a sleek aluminum bottle with a category-first, no-drip aluminum dosing cap for easy dispensing.

The ready-to-use hand and dish assortment was brought to life through Grove Co.’s ongoing retail partnership with Target to develop a product line that stands out on store shelves and conveys sustainability at a glance. Customers can find the new ready-to-use assortment on Grove Collaborative’s online marketplace and in more than 7,500 brick-and-mortar stores across the U.S. through retail partners like Target, CVS, and more. Grove Co. will also continue to offer its hallmark refill solutions, which include a durable dispenser and concentrated refills in aluminum packaging.

New Fragrances

Grove Co. products now also feature a number of new signature scents. In line with Grove Collaborative’s uncompromising ingredient standards, Grove Co. products are made with Natural Origin Fragrance — fragrances that meet the ISO 16128 industry standard — to create bold, beautiful outdoor-inspired scents. The fragrances were inspired by different category, room, and surface occasions to increase category-specific efficacy cues. Four new fragrances launching this year across all product formats will bring newness to the assortment in line with category trends, such as ozonic and minty “blue” fragrances in glass cleaner concentrates, watery fragrances in hand and dish soap, and more modern takes on citrus in multi-purpose clear concentrates. The fragrances create vibrant, memorable scent experiences consumers will love, including:

• Sunshower: Dive into sun-drenched waters sparkling with notes of juicy pineapple, refreshing orange, and warm summer sands.
• Fresh Pomelo: A bright, tangy citrus that’s invigorating grapefruit with the sweetness of pomelo. It’s a stroll through a sunny citrus grove as notes of freesia and raspberry sweep in on the breeze.
• Wild Mint: A burst of invigorating peppermint and spearmint with the lushness of fresh greens. Like a dew-touched herb garden – no green thumb required.
• Sea Spray: A serene moment of translucent waters infused with fig, fresh green bamboo, and warm cedar. Like driving to the coast with the windows down.

Celebrating Partnerships

Sustainability is at the core of everything Grove does and the progress that has been made toward the Company’s mission and sustainability goals is a result of several core partnerships. These partners include customers, who advance Grove’s mission through their ongoing support with every purchase, as well as other essential partners that bring Grove’s commitments to life. Throughout Earth Month, Grove will spotlight its core sustainability partners across social media channels to educate their audience on the role they play and the impact they make every day, including:

• 5 Gyres, Grove’s non-profit plastics research and advocacy partner, performs studies that reinforce the importance of the Company’s ongoing sustainability commitments and the impact of plastics on our oceans, environment, and communities. As the leader in the global movement against plastic pollution, 5 Gyres empowers action against the global health crisis of plastic pollution through science, education, and advocacy. With Grove's support, 5 Gyres was able to publish 8 research papers and engage on 26 legislative bills in 2023 alone. Grove has donated over $100,000 to 5 Gyres since 2019.
• rePurpose Global supports Grove’s plastic neutrality commitment. For every ounce of plastic Grove sells to its customers, its partnership with rePurpose Global recovers an equal amount of nature- and ocean-bound plastic, preventing it from polluting the environment. rePurpose Global works with local innovators to bring ethical waste management services and socioeconomic benefits to underserved communities. As a result of Grove’s partnership with rePurpose Global and other plastic recovery platforms, the Company has collected more than 15 million pounds of plastic waste since 2020.
• The Nature Conservancy is Grove’s forest conservation partner. Grove is partnering with The Nature Conservancy to support Indigenous-led conservation across 2 million acres in the Tongass National Forest. Supported by Grove, The Nature Conservancy’s Emerald Edge program is working alongside Indigenous and community partners to safeguard the region’s climate mitigation capacity, rich biodiversity, and the social and economic well-being of local communities.

About Grove Collaborative

Launched in 2016 as a Certified B Corp, Grove Collaborative Holdings, Inc. (NYSE: GROV) is transforming consumer products into a positive force for human and environmental good. Driven by the belief that sustainability is the only future, Grove creates and curates more than 200 high-performing eco-friendly brands of household cleaning, personal care, health and wellness, laundry, clean beauty, baby, and pet care products serving millions of households across the U.S. each year. With a flexible monthly delivery model and access to knowledgeable Grove Guides, Grove makes it easy for everyone to build sustainable routines and Be a Force of Nature.

Every product Grove offers — from its flagship brand of sustainably powerful home care essentials, Grove Co., to its exceptional third-party brands — has been thoroughly vetted against the Grove Feel Good Standard, which guarantees strict ingredients criteria, 100% plastic neutral orders, carbon neutral shipments, and the highest quality performance in addition to being certified cruelty-free and ethically produced. Grove is a public benefit corporation on a mission to move Beyond Plastic™ and is available at select retailers nationwide, making sustainable home care products even more accessible. For more information, visit www.grove.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240328710144/en/

Ryan Zimmerman

Ryan.Zimmerman@grove.co

Source: Grove Collaborative Holdings, Inc.

FAQ

What is the ticker symbol for Grove Collaborative Holdings, Inc.?

The ticker symbol for Grove Collaborative Holdings, Inc. is GROV.

What key sustainability initiatives has Grove Collaborative highlighted in the press release?

Grove Collaborative has highlighted key sustainability initiatives including low plastic intensity, plastic recovery, plastic avoidance, and conservation efforts.

What material is emphasized in the rebranding of Grove Co.?

Aluminum is emphasized in the rebranding of Grove Co. for its scalability and sustainability.

What campaign is Grove Collaborative launching in April?

Grove Collaborative is launching the 'Perfect Isn't Sustainable' campaign in April to promote progress over perfection in sustainability efforts.

What brand products are being consolidated under the Grove Co. label?

All owned brand products, including Rooted Beauty, are being consolidated under the Grove Co. label.