Vegan retailer with private label focus kicks off in funding round

Vegan Fine Brands, a fledgling retailer based in Fort Lauderdale, Fla., is looking to raise money to fuel its business, which relies heavily on the development of private brands. The company, founded by former Procter & Gamble and Pepsico executive Steven Smith, has kicked off a fundraising campaign via StartEngin, an equity crowdfunding platform. 

Among the store brands that VFB has developed are Vegan Fine Wines and Vitamins 4 Vegans. Smith said that the use of private label allows for a differentiated selection and gives the store control over the products, which also are sold at such retailers as Whole Foods and Erewohn.

The improved margins from private brands also help fuel the store, which Smith said is meant to serve as a resource in an area with limited grocery store options. 

“I spent years living in food deserts with little to no accessibility to nutrient dense foods and I see how damaging that can be for underserved communities,” he said.

Smith added that VFB’s 5,000-sq.-ft. store is 100% vegan and includes a wine bar and an adjacent Vegan Fine Body store, which stocks natural beauty and grooming products. 

In addition to its private brands and the national plant-based brands it carries, Vegan Fine Brands' store also carries a selection of local products.