Injecting new money into the last crumb shows why CPG should prioritize branding in the era of direct-to-consumer sales
Matthew Jung was initially reluctant to join Last Crumb, a luxury cookie brand that sells high-end treats inspired by street fashion and celebrity culture for $ 140 per box of 12 cookies online, as as general manager – for the same reason that many still find it hard to believe that consumers would pay close to $ 12 apiece for the most popular snack of all time.
The brand’s direct-to-consumer sales to date, however, dispel any such suspicion: packaged in a similar style to fine wines designed by the Truffl brand agency, and handcrafted in limited batches with high-quality ingredients. , Last Crumb has sold over a million dollars. cookie value through weekly drops in just three months, and the number of buyers on its waiting list continues to increase dramatically.
With a high-end luxury experience with daily snacks for over a decade, Derek Jaeger co-founded Last Crumb alongside digital marketing veteran Alana Arnold after spending nearly two years formulating and perfecting their recipes produced through a proprietary three-day dough preparation process.
“We use the best ingredients and have built a cooking system specifically designed for direct-to-consumer sales,” Jaeger said. “It was an OCD approach to every flavor and cookie we put out there.” These 12 flavors, ranging from the most common chocolate chips to crispy cinnamon toast and birthday cake, also give a bold twist to traditional cookies when it comes to naming – “La Madone” for the flavor of. peanut butter and milk chocolate, and “Donkey Kong” which combines the creaminess of ivory white chocolate, thick pudding and marshmallows, to name a few.
The goal is to “give every cookie a story that comes to life with every bite,” according to Arnold. “We wanted it to be like a conversation starter that brings people together, as our tagline says ‘cookies are so good your grandma will deny you’ – we stick with that.”
Last Crumb’s strategy focused on premium experience, storytelling, and exclusivity has proven effective in cultivating a loyal fan base who actively share and engage with its products on social media. “We didn’t spend any dollars on marketing,” Jung said, “because these social posts and unboxing videos [our cookies] have a really interesting flywheel effect: the more cookies we sell, the more people talk about us.
Now, with a further infusion of capital of just over $ 1 million led by a group of leading food and beverage entrepreneurs, advisors and venture capitalists, the company , also known for offering the Rolex or the Saint Laurent biscuits, should increase its production. capacity and capabilities, in addition to hiring new employees, which together will help triple its revenues in the near future.
These investors include the world famous artist, Zedd; Austin Rosen, founder of Electric Feel Ventures; the co-founders of TRUFF Hot Sauce, Nick Ajluni and Nick Guillen; Larry & Lenny’s Cookies founder Barry Turner via Talisker Ventures; the founders of The Stable, Nik Larsen and Chad Hetherington; Nik Sharma; Room 9; Riverside Ventures; and private investor Michael Silverstein.
Riverside Ventures credits Last Crumb’s weekly sale to its 100% digital playbook and ability to keep consumers excited. “It’s amazing how people miss their weekly cookie distribution and become more motivated and excited to get them the following week,” the venture capital firm commented. “It sounds like SoulCycle customers connecting to the second open bike. The demand after only a few months on the market is staggering.
Silverstein, who has served on the board of directors of a myriad of high-growth CPG brands including Better Booch Kombucha, believes Last Crumb cookies offer technical, functional and emotional benefits. “With Last Crumb, to taste is to believe,” he said in a statement. “It’s a product built on better ingredients, better recipes and creativity… No mass-packaged product company could imagine the kaleidoscope of chocolates, caramelized butter, Maldon sea salt, lemon, l espresso, macadamia nuts, caramels, vanilla, soft marshmallows. It is as if a wizard with magical recipes is coming to your door.
Over the next 18 months, Last Crumb will continue to focus on brand building while expanding production, running at a plant in California that is already seven times the size of its previous plant. The team will ultimately develop 80 flavors in total that will be presented to consumers over time, according to Jung. But one thing will remain the same: customer experience always comes first.
“If we can monetize the customer experience, we can monetize building an amazing brand. Sales will come organically, and then the right opportunities will arise,” Jung said, “We don’t have machine lines. factory cutting and spitting perfectly molded cookies, people make them and we ship a lot of boxes pretty fast so they can keep their freshness. “
Commenting on Last Crumb’s future growth trajectory, he added, “We haven’t even scratched the surface yet. I think our values will not change, whatever channel we might explore later.