Nutella was *the* breakfast food of the millenium. Kids loved it, you could put it on anything, and it had a fancy Europe...
Problem
The snacks we've been eating for generations are outdated!
They are high in sugar content, and filled with ingredients that leave us and the planet worse off.
The leading hazelnut spread is more than half sugar, which is sabotaging our health. Even though it’s delicious, sugar is linked to obesity, cardiovascular disease, cardiac arrest, and diabetes.
Palm oil is the second ingredient in the market leader's spread. It’s also one of the leading causes of deforestation and lost orangutan habitat around the world. Even sustainable palm oil lacks credibility, as its members continue to be exposed for violations.
Why are we still buying products that are knowingly bad for both our bodies and the greater environment? We have not recreated our favorite snacks from generations back.
Solution
A guilt-free hazelnut cocoa spread that tastes too good to be true
The most delicious snack on the
planet is now vegan, honest and planet conscious.
tbh reimagined the familiar taste we’ve always loved but without the bad stuff. Our first product launched in 2021 - a hazelnut cocoa spread that has no palm oil, 50% less sugar than Nutella, and 3x the protein to give you more of the good stuff.
Product
Meet your new
favorite spread
It has more of the good stuff, less of the bad stuff, and tastes absolutely amazing.
Hazelnuts are the first ingredient, then we add organic cane sugar to sweeten. Pea protein is mixed in to boost protein to 6g per serving. We're always vegan and never use palm oil.
The future of tbh
A tbh "on-the-go" option has been highly requested — by our Gen Z consumers running to and from class; by athletes, hikers, parents, and more. We are anticipating this offering to launch in early 2023, and this Republic campaign will help us reach that milestone.
While consumers want tbh in a smaller quantity, we have restaurants who want tbh in a way larger quantity. So we worked alongside our manufacturing partner to create tbh food service buckets in August 2022, which we anticipate will become 20% of our business in 2023.
Collaborations
tbh tastes great by itself, but we LOVE collaborating with other brands to increase awareness (and replace the other guys). In 2022, we’ve created tbh macaroons, tbh adaptogen cookies, tbh XXL cookies, tbh milkshakes and tbh uncrustables. Next year, we have more surprises up our sleeve to continue exploring new demographics, tastes and customer profiles.
Traction
We've caught
the world's attention
tbh launched to a lot of excitement across the globe. Noah’s fans became immediate supporters of tbh, waiting in line from 8am at our meet and greet.
Since then, we’ve grown to over 350K followers in just under 11 months. We have leveraged that platform to build heavy community involvement and high customer satisfaction, which we see through our growing email and sms subscriber list (27K active subscribers) and our above average DTC returning customer rate (32%). Direct to consumer is currently 80% of our business as we strategically expand.
Fast deliveries
Fast delivery platforms like Gopuff and Getir both offer tbh for delivery in minutes across the United States — including NYC, Chicago, Nashville, Houston, Los Angeles, Santa Fe and Seattle. We are live on Amazon, available on Prime, and are a part of the Amazon Launchpad program.
tbh in retail
tbh is currently available in 100+ retail stores on the West Coast, including Erewhon, Mother’s Market, Jensen’s, and Fred Meyer. We are in conversations with Whole Foods, Target, Sprout’s, Wegman’s and more for 2023, when retail will become our primary focus and grow to 60% of our revenue.
Customers
Our customers
are our #1 fans!
In the last year, we’ve built an excited and loud community. They are thrilled to have an alternative that tastes AMAZING ... and thrilled that Noah is paving a delicious, mission-driven path!
We have over 500 reviews on our website at 5 stars, and are ranked #1 Best Release on Amazon at launch, currently with over 600 reviews. We love that our customers love us, and are excited to welcome them as repeat customers into our community.
Our DTC subscriber list is currently at 250 customers, who are the first to know about new products, merch, or activations. Our repeat customer rate is 32%, demonstrating that once people try tbh, there’s no going back! On Amazon, our subscriber community is almost 1,000 customers in just 6 months, growing at 14% each month.
Customer profiles
We have several strong customer profiles that we have established from almost a year of digital data. The millennial parent or pantry buyer is our number one consumer, making up 70% of D2C sales. We've given them a reason to swap their old spread for us because not only is it better for them and their kids, but it tastes just as good, if not better.
Vegans were excited for tbh, since Nutella is not vegan and they’ve missed the taste. We are happy to finally give them a vegan alternative that doesn’t sacrifice taste!
Gen Z is a powerful demographic for our brand and will only continue to grow. They represent 40% of all American consumers and is estimated to wield $143 billion in spending power. 82% of parents say their Gen Z children influencer household spending and 78% of Gen Z's spend the majority of their discretionary cash on food.
Business model
tbh uses community to test, partnerships to scale, and retail to grow
Our digitally native launch set the tone for a rapid retail expansion strategy while establishing deep rooted community values.
We are committed to getting snacks to our customers in the US, through our website, Amazon, fast delivery platforms in retail and through food service. Our blended margins are 63%, and we will only improve this with economies of scale.
We work with a US-based manufacturing partner to continue producing tbh to fill demand across all form factors (including single serve and food service buckets). They are open to doing R&D with us as part of this partnership. We are their only vegan, palm oil free product.
Our community is not only strong in the US, but also globally in Brazil, France and Turkey. We would like to expand to those regions in the coming years. Our manufacturer has a facility in Europe to facilitate the process.
Market
Snacking is on the rise
Increasing demand for natural and healthy spreads and consumer preferences for artisan bakery products are accelerating the growth of the food spread market across the globe. The Nut Spreads category is estimated to hold $115M SOM (Serviceable Obtainable Market) by year 5.
While the nut-spread market is huge, the better-for-you snacking market is MASSIVE.
Brands just like ours are emerging ...and they are winning BIG!
Competition
How we stack up
against the classics
Our priority is to recreate the flavor you know and love, with high quality ingredients that are better for you and for the planet.
We do not use palm oil and are vegan, while our competitors aren't checking off both those boxes. We have three (3) times as much protein as the other guys and 50% less sugar than the market leader. Overall, we keep the taste you love without the guilt!
Vision and strategy
Let's spread the good stuff
Consumers shouldn't have to choose between their (or the planet's) health and great taste. And we don't force them to! The strategy here is simple; do good by creating a better snack brand. Our goal is to create a trusted brand for nostalgic snacks. tbh’s sweet spot is being a bright light for consumers on the journey of swapping their nostalgic favorites for better-for-you alternatives.
Our vision is to create a portfolio of absolutely mouth-watering nostalgic snacks that remind us of home. The spread is our hero product, and we intend to launch several size varieties — including an On-the-Go size — in addition to our jar. Long term, we will grow the products to include a tbh Hot Chocolate, tbh Bar and tbh Bites. We sell online, into retail and through food service and restaurants. We are starting in the U.S. but see the international market as a huge opportunity.
Timeline
Impact
An honest
commitment to do better
We started tbh with a vision to do things better. We did it and we'll keep at it, because meaningful change is a long game.
Above all, we strive to be transparent and direct. And to be honest, sometimes the supply chain is a challenge when it comes to sustainable standards. We are moving against the grain to give you the snackable goodness that you deserve, something that is better for you and the planet. We are beyond proud of the product we are putting into the world—but we've also got big plans to make incremental improvements as we go.
Our aspiration is to encourage and enforce practices that will make a more sustainable supply chain the status quo. But it takes more than aspiration. It takes action. This means reinvesting in our values to eliminate plastic packaging, localize shipping throughout our supply chain and using less material waste through the entire production process. Those are our goals; and we are so grateful to have you along for the ride.
Certifications
We are currently in the process of obtaining the official verification for Non-GMO, Vegan and Gluten Free.
Core values
Honesty & Transparency
It’s part of the name for a reason. We want to be transparent about the product, our process and upfront. This means being clear about our ingredients, and what eco steps we take instead of greenwashing.
Doing Good & Feeling Good
More than a snack brand, tbh wants to create positive change in people’s pantries, homes, lives and for the planet.
Curiosity & Humility
We don’t pretend to know it all, we approach everything with humility and an optimistic attitude.
Funding
The leaders making honest snacking happen
tbh has raised through prominent investors and industry leaders including Eric Skae (CEO of Carbone), Dan Doll and David S (Soapbox, Bushwick Kitchen, Aleta) and renowned VC funds supporting the future of food like Idea Farm Ventures, Vibrant VC, Sandbox Ventures and Trousdale Ventures.
Our incredible advisors include Peter Rahal (RX Bar, Litani Ventures), Ryan Bethencourt (Wild Earth) and industry experts like Monica Colye (Whole Foods).
We have an incredible journey ahead of us. Our team would love for you to join us in supporting a future of what snacking should be.
Founders
The people
behind the spread
Celebrity Founder
Noah Schnapp
Co-Founder & Chief Snacking Officer
Through his online influence, Noah will connect with Gen Z and help redefine healthy snacking habits.
CPG & VC Experienced Founders
Elena Guberman
Co-Founder & Co-CEO
Through her vast CPG experience, Elena has built a small but mighty team at tbh that is working towards a better future for the snacking industry.
Bá Minuzzi
Co-Founder & Co-CEO
Ba Minuzzi, founder & CEO of UMANA, is a self-made entrepreneur who leads conscious investing and wealth management for high-net-worth celebrity clients. With UMANA, Ba is redefining wealth through purpose-driven efforts that will create a legacy for the next generation.