With the closing of Babies “R” Us and uncertainty looming for Buy Buy Baby with the bankruptcy of parent company Bed Bath and Beyond, there is a tremendous void for parents looking for trusted products for their little ones. Lalo is a modern, direct-to-consumer brand for baby and toddler products, offering a comprehensive line that’s safe, aesthetically pleasing, and enduring products. Featuring everything from high chairs to bath accessories, all of the company’s products are thoughtfully designed, tested rigorously, and manufactured without any harmful chemicals or substances. Focused on innovative product development and expanding its offering conscious of how families use space, Lalo provides its customers with an industry-leading 100-day risk-free trial on all products as well as an 18-month warranty on its larger, signature items like boosters, play tables, and chairs. Currently, sales are transacted on the company’s website, Babylist (leading baby registry), or Amazon with strategic plans to increase the company’s visibility and expand both domestically and internationally.
AlleyWatch caught up with Lalo Cofounder and CEO Gregory Davidson to learn more about the business, the company’s strategic plans, latest round of funding, and much, much more…
Who were your investors and how much did you raise?
It was a Series A led by Spin Master Ventures with participation by Kevin Durant and Rich Kleiman from 35V, Babylist, and Sasha Plasvic founder of ILIA and Untold Holdings.
Tell us about the product or service that Lalo offers.
Lalo makes baby and toddler products parents are proud to own for their family home.
What inspired the start of Lalo?
We watched our friends and families go through the experience of shopping for a baby which was overwhelming, and confusing. We wanted to build a brand that customers could rely on and trust equally as much as our products.
How is Lalo different?
Instead of tackling specific problems that people have with individual products, we look at each and every room in the home to build out ecosystems of products that enhance choice while reducing the number of decisions a parent has to make.
What market does Lalo target and how big is it?
The global baby goods market is $121B.
What’s your business model?
We sell on DTC, Babylist, and Amazon.
How are you preparing for a potential economic slowdown?
The baby industry is unique. Our business has actually shown that it can be quite resilient in difficult economic times. We also believe that our mindset and focus on building a strong profitable business will allow us to continue to thrive in all environments.
What was the funding process like?
While the market is definitely softer than usual, for us, it was about finding the right partners. We have always remained focused on growth while balancing profitability. Given that focus it definitely took some time to get done given so many external factors (including a banking crisis) but ultimately our business is as strong as ever which put us in a great position to get the capital we needed to fuel our growth.
What are the biggest challenges that you faced while raising capital?
The overall market gave funds more pause on when and to who to deploy capital to. It probably took more time as teams were doing more diligence than ever before.
What factors about your business led your investors to write the check?
Our keen focus on brand and profitability, while still growing substantially.
What are the milestones you plan to achieve in the next six months?
We have some exciting new product launches lined up, and we will achieve profitability.
What advice can you offer companies in New York that do not have a fresh injection of capital in the bank?
Make sure you are turning over every stone in your business and figure out what you need to stay alive to get to that next critical milestone, which might unlock capital.
Make sure you are turning over every stone in your business and figure out what you need to stay alive to get to that next critical milestone, which might unlock capital.
Where do you see the company going now over the near term?
We believe we are building the Nike for the parent and family inside the home. We are thrilled to continue building out each ecosystem within each room within the home.
What’s your favorite summer destination in and around the city?
My favorite hang spot in the summer is Grand Banks.
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- Source: https://www.alleywatch.com/2023/06/lalo-baby-toddler-brand-non-toxic-safe-products-high-chair-gregory-davidson/
