After transforming the global consumer sector landscape over the last decade, e-commerce looks set to continue to define the sector’s future. One of the most widely documented trends is the growth of the awkwardly named Digitally Native Vertical Brand (DNVB) businesses. DNVBs such as Allbirds, Caspar and Bonobos are able to use their direct, digital dialogue with consumers and close links with suppliers to respond quickly and create new products which precisely match consumer trends.

Unsurprisingly, the global FMCG groups and retailers, with their complex supply chains and old economy distribution can only look on jealously at this level of reactivity and consumer engagement and are increasingly driving M&A and investment into the sector.

Jonathan Buxton, partner and head of consumer at Cavendish Corporate Finance, offers his thoughts on M&A trends in e-commerce and a broad outlook on the future of the sector.

Read full article in ACQ5 here