Products

Products

Flexible spending accounts have become even more flexible this year, which is good news for people who need to find ways to use up their account money before they lose it all at the end of the year.

People can now use the tax-free money in the accounts to pay for the health portion of 23andMe tests. The Internal Revenue Service determined 23andMe tests were eligible for purchase by flexible spending account money earlier this year. Certain food allergy sensors, high-tech baby monitors and devices to improve posture were also recently added to the list of items account-holders can buy.

The new choices join a growing pile of health-related products that people can already buy with flexible spending account (FSA) money.

First aid kits, thermometers and machines to clean sleep apnea-treating CPAP devices are popular purchases, said Sylvia Zori, chief operating officer of FSAstore, an online marketplace where buyers can buy items eligible for purchase with FSA money. December 31 is the site’s busiest day, she added.

People who work for employers offering the flexible spending accounts (FSAs) can contribute up to $2,750 annually, according to IRS rules. The money goes into the account pre-tax and can be put towards expenses that aren’t covered by the employee’s health insurance plan.

The major catch, however, is that people forfeit any unused money at the end of the plan year. That can be the end of the calendar year, but not necessarily.

Employers can let account holders rollover a maximum of $500 to the next year or allow a grace period that gives workers another two and a half months to spend the money, the IRS notes. But employers don’t have to include either benefit, the agency said.

FSAs are different from health savings accounts, which let account holders use pre-tax money to pay for deductibles, copayments, coinsurance and other expenses. In addition to health-related products, FSA money can go towards deductibles and copayments, but not insurance premiums.

Americans had 28.8 million FSA accounts last year and there will be an estimated 30.2 million accounts this year, said Inci Kaya, lead analyst, health insurance and payments, at Aite Group, a Boston-based advisory research and consulting firm for financial service and insurance companies. Americans will use a projected $33.6 billion from their accounts this year, up from $31.7 billion last year, Kaya said.

FSAstore has previously estimated Americans give up more than $400 million in tax free money when their plan year runs out.

23andMe lets consumers see their genetic lineage and certain health predispositions, all with a saliva sample. The company offers the service for $199 (though a half-off deal runs through Dec. 2).

Earlier this year, the IRS determined consumers could put their FSA dollars towards the health portion of the 23andMe’s services. That could be up to $117.74, the company has previously said. The IRS made its determination after a taxpayer asked for guidance on whether he or she could use FSA money for 23andMe’s services.

The 23andMe report can show the chances of having Type 2 Diabetes, late-onset Alzheimer’s disease, celiac disease and other conditions. “23andMe’s Health + Ancestry Service, the only direct-to-consumer genetic test that includes FDA-authorized health reports, provides information that can be used to better manage your health, lifestyle and identify potential genetic risks for certain health conditions,” said Jacquie Haggarty, 23andMe’s vice president, deputy general counsel.

Other genetic tests can be purchased with FSA money. For example, NVTA, -6.66%  Invitae has accepted FSA money since June and its tests cost between $250 and $350. Tests can screen for certain genes linked to cancer, heart disease and other conditions, according to the company’s website.

“Medical genetic testing is affordable and easy to order, “ an Invitae spokeswoman said. “It’s a great way to use remaining FSA/HSA funds available at the end of the year to invest in your health. With Invitae, the cost is $250-$350 to get the same high-quality testing genetics experts use, including guidance from a clinician and access to genetic counseling to discuss results.”

Some experts have previously cautioned that people shouldn’t put all their faith in direct-to-consumer tests, because genetic counseling is a much more comprehensive look at genetic predispositions and risks.

In addition to genetic testing, there are other new ways to use to use FSA money this year, including:

Peanut and gluten sensors, which are available on FSAstore.com for $289 apiece. People using the sensors can put a piece of food in the device to see if there are traces of peanuts or gluten. So far, the sensors have “done quite well” in terms of sales, said Zori, though she declined to give specifics.

“More and more, as we talk to people at work here and so forth, we realize food allergies are a very big topic and health concern,” she said.

(Some observers say the jury’s still out on how effective the sensors are, though sensor makers say the product is effective.)

A posture pump that sells on FSAstore.com for $200, meant to relieve neck pain. The user lays down and the device wraps around their neck. The pump can increase or decrease the elevation to maximize comfort. The posture pump is one of the site’s top 20 best-selling items, Zori said.

Another item is the Miku Smart Baby monitor, which sells for $400. The monitor is one of the new breeds of high-tech baby monitors able to track a tot’s every twist and stir. The device can track sleep patterns and the temperature in your baby’s room, and it has the capacity to share and download video and picture.

Just as the IRS gave guidance on 23andMe’s FSA eligibility for its health-related genetic test, Zori said FSAstore asked the IRS to advise on the eligibility of these three products. “There’s only so many Band-Aids you want to buy with your funds after a while,” she joked.

Products

Most early-to-mid stage investment firms raise a new fund every three or four years. But most investment firms are not CAVU Venture Partners. The disruptive, better-for-you consumer goods venture firm started by “Hollywood Brandfather” and Shark Tank TV star Rohan Oza and private equity powerhouse Brett Thomas is doing things differently. 

Having already secured multiple large exits since the firm’s launch in 2016, they’ve been able to close three funds in rapid succession, spending only weeks on fundraising. In 2017, only 10 months after investing, they sold Bai antioxidant group to Dr. Pepper Snapple for $1.7 billion. Next up they invested in Beyond Meat, which is worth about $5 billion and had the best performing IPO in nearly two decades. Then, this September, the company sold ONE Brands to Hershey for $397 million. 

In fewer than four years, CAVU has invested in some of the hottest, fastest growing consumer brands in the food, beverage, beauty, personal care and pet markets. CAVU co-founders and managing partners Rohan Oza and Brett Thomas announced their third flagship investment fund, an oversubscribed capital pool of $250 million, up from $156 million and $209 million from their inaugural funds in 2016 and 2017, respectively.

The powerhouse duo shared with me why they decided to launch a venture firm dedicated to better-for-you CPG brands, their strategy for raising a third fund in under four years and their plans for the next generation of CAVU-backed unicorns.

Yola Robert: Why did you start CAVU?

Brett Thomas: We started CAVU with a pretty lofty purpose in mind, one that’s core to who we are and how we operate. We exist to democratize healthy living for as many humans as possible. If we can play even a small role in helping people feel better about themselves by supporting brands that offer healthier, accessible choices, we all win. At the end of the day, we want to improve people’s lives—and that starts with what we eat and drink. 

Rohan Oza: Everybody in America is looking to feel better about themselves, and it all starts with what you put in and on your body. Tomorrow’s consumer is driving a seismic shift in our industry; we want to be a part of that story. By tapping the brands of tomorrow right now, the next generation of Americans can lead healthier lives.

Robert: Why did you decide to partner together?

Thomas: I’d long been a fan of Rohan’s work building some of the most iconic, better-for-you brands of the last few decades. He redefined an industry with his game-changing 50 cent/Vitaminwater partnership and has continued to disrupt the celebrity/brand partnership model with other A-Listers like Jennifer Aniston and Justin Timberlake. But it’s his amazing ability to forge lasting relationships with founders that sold me. He bonds with entrepreneurs like no one I’ve ever seen. With deep respect and trust, he helps founders craft a vision—and then realize it. 

Oza: I’ve helped build some incredible brands, and Brett has always been a fantastic hunter and investor. We complement each other perfectly. I admire his fierce, winning attitude and his uncanny ability to identify, seek out and ultimately partner with some of the most promising better-for-you brands in our space.

Robert: How are you different from other CPG venture firms?

Thomas: We take an active, hands-on approach to helping companies evolve from promising upstarts into iconic, household brands. Unlike other firms, our approach is much more hands-on. We have in-house experts in marketing, branding, e-commerce, and talent…people who have actually walked in the shoes of our brand partners and come from the CPG, start-up and agency worlds.

Oza: We provide an internal brand-building resource for our partners. We’ve invested in top talent on the value-add side of the business so that we can offer this kind of help. We’ve completed award-winning caliber packaging design, cutting-edge creative campaigns, comprehensive e-commerce overhauls, and critical, nationwide expansions into major retailers.

 Robert: Rohan, you have made a name for yourself with celebrity partnerships. Are there any recent partnerships with any of the CAVU that have been a success?

Oza: I think Kurt Seidensticker and the Vital Proteins team got it right with the Kourtney Kardashian partnership. She has been a fan of their collagen-based protein for years, so the collaboration was authentic. The much-loved kid nutrition brand Once Upon a Farm , co-founded by John Forakker and Jennifer Garner, is also doing incredibly well. Jen is highly engaged, a great mom and very vocal about the brand’s mission, as she was a driving force behind its creation.

Robert: Beyond the exits such as Bai, OneBar, and Beyond Meat, what are other investments successful investments in CAVU’s portfolio?

Thomas: We’re excited about all our brands, but a couple standouts include collagen-based protein market leader Vital Proteins, which has grown 500% since we invested, and HIPPEAS, the insanely delicious organic chickpea puffs, which has grown 800% since we invested.

Robert: What are your plans for fund 3?

Thomas: We will continue to seek out the most passionate entrepreneurs behind the most disruptive, innovative brands. We started out in food, beverage and pet care and are expanding more into personal care and beauty. Men’s personal care company Hims, valued at over $1.1 billion according to Forbes, marked our first major expansion into that category.

Robert: What are your future plans for the firm? 

Oza: We’ve grown a lot in our short history. We’ve expanded from only three employees to a team of nearly 20 spread across Los Angeles, Austin and New York. We’ve invested significantly in our team because they’re critical to the long-term success of our firm and brand partners. 

Thomas: We’ve never been more excited about the transformation of the consumer goods space, especially in food, beauty and personal care. The barriers to entry have never been lower for innovative entrepreneurs with disruptive ideas. We are more bullish than ever on partnering with incredible founders to ultimately help us all live healthier lives. 

Products

Products

onday was a big day for the internet, thanks to the photo that Ashley BensonInstagrammed featuring a tattoo of the letters “CD,” which just so happen to be the same as her girlfriend‘s initials. But it was an even bigger day for Benson; to her, the photo marked her official announcement that first-ever sunglasses collection, Privé Revaux X Benzo, had finally launched—a moment she’d been anticipating for months.

The 29-year-old actress has been working with Privé Revaux for a few years now, but this is the first time she tried her hand at design. Still, Benson knew exactly where to start: with Mary-Kate and Ashley Olsen, whom she’s worshipped since, as she put it, “day one.” From there, she came up with three different styles: The Victoria, which is an oversized take on “everyday”; the Olive, a cat eye named after her dog; and the Planco, a “unique” rectangular pair complete with side panels, which, naturally, was inspired by Rihanna. It’s only been about 24 hours, but thanks no doubt in part to Benson’s 19 million Instagram followers, two of the three are already almost out of stock.

And yet, Benson is still getting used to the idea that she has an eye for style. The era of Pretty Little Liars took up the bulk of her twenties, but it wasn’t until after the show wrapped that she got her first-ever stylist—and stopped wearing red carpet looks that she now considers not only “horrible,” but “horrendous.” Then again, Benson might just be her own worst critic: “I don’t make good choices with clothes,” she insisted when she dropped by W‘s office last week—never mind that she looked impeccable. Still, after laying out her sunglasses designs—and kicking off her Chanel pumps—Benson obliged to share her style notes with W. Read on for more about each and every one of her obsessions, from the Olsens to escape rooms.

What are three words that describe your style?

Black, simple, and chic—at least, when I try to dress. Usually I’m just in, like, sweats. But when I try, to be honest with you, I base my looks off the Olsen twins. I’ve been their biggest fan since I was born.

Have you ever met them?

Yeah, twice. They’re really nice, but I got weird about it. I was like, “I can’t hang out with you guys.” I grew up watching all their movies, and they started doing fashion, first with this line for Walmart, when I was 12. Funnily enough, I ended up being the model for all the clothes. I went to set pretty much every week, but they only came once. I only got to see a glimpse of them, with their little butterfly clips in their hair, but I was still like, “Oh my god.“

I guess that answers my next question, about your ultimate style icons?

Yeah, 100 percent. I follow at least 20 different Mary-Kate and Ashley accounts on Instagram, just for their fashion. I love it.

What’s your go-to outfit for a day off?

Just jeans and a t-shirt, or cut-offs in the summer. I get way too hot, because I live in New York in L.A., and it’s so hot. This summer, I was like, I want to start doing more slip dresses—kind of ’90s Courtney Love vibes. But I have to see where I can find those.

What’s the best fashion advice you’ve ever received?

To just be comfortable. I know that when I go to events and I’m uncomfortable—whether because of shoes or something’s too tight—it really does ruin my day or night. So this, what I’m wearing right now, is very comfortable. I mean, I took my shoes off—I’m like out my house right now. [Laughs.]

How do you feel about flats versus heels?

I hate heels, because they’re really hard to walk in and make my feet hurt. But these ones I’m wearing are just the smallest heel. They’re like little slides, almost. So they’re doable, which is great; I found them and I was like, “These are heels that I can wear.” Otherwise, I wear high-heeled boots every day, or just a pair of Converse.

How about tiny Matrix-style sunglasses? You kind of have a pair in your collection.

I can’t pull those off, for whatever reason. These [“The Olive“] are the smallest that I can go, and they actually look really good. But the other ones are so small. Like, are they reallyprotecting your eyes?

What’s your favorite thing you’ve ever worn on the red carpet?

I just went to the Trevor Project gala, and I wore this dress, which of course is black:

Do you typically look at your fan accounts, like the one you just pulled up?

I follow some, just to see if the paparazzi have been taking photos of me. But also, they seem to know more about my life than I do, so I also follow them to be like [scrolls through phone] “What’s going on in my life? Let me see what everyone’s talking about.” [Laughs.]

I’m sure you’re often in for a surprise.

Always. So many people make things up or start stories and I’m just like, “Ugh, god.” I message them all the time and I’m like, “Can you not put this stuff up?” And they’re like “Oh my god, yeah”—they’re so sweet. I literally talk to them on Messenger, like, “You need to take those photos down. You need to have this person do this.” I’m trying to control everything. [Laughs.] But for the most part, they’re amazing and great, and I love their pictures that they post of me; sometimes I actually message them asking if they can send me the red carpet ones so that I can post them. They give me so many options—and they edit them! They’re the best.

What’s the most prized possession in your closet?

The Chanel shoes that I’m wearing. I just bought them, kind of on a whim. But I don’t spend money on clothes. I wish I could.

Where do you get your clothes from, then?

Usually either vintage stores or Brandy Melville. I’ve been loving Brandy Melville for probably eight years now. It’s easy, it’s cute and their stuff actually holds up. And it’s cheap, and that’s what I like.

Do you have any favorite thrift stores in New York?

There’s one place that my friend Morgan owns, called the Vintage Twin. She always has the best stuff, especially shirts and jumpsuits. Though sometimes I check out and I’m like, “Oof, I didn’t know that was that expensive!” [Laughs.] But if it’s vintage, it’s like, fine.

What was your style like as a teen?

Emo. Black eyes—like, so black—that went all around, like circles. Then I wore band t-shirts. I wanted to be like Avril Lavigne, so I always wore a tie and different colored Converse. I tried to copy Hayley [Williams] from Paramore’s style, too. I’ve always loved ’90s grunge style. And I tried to do that—I just didn’t do it right. I mean, I’ve gone through so many phases in my life, clothes-wise—enough to know that I don’t make good choices with clothes. Those were definitely not the best days, but I thought I looked amazing.

I wore a tie, too—Avril Lavigne was my first concert.

That’s amazing. Mine was Tina Turner, but I was so young that I didn’t even know who she was. My second one was NSYNC, and I was crying. I was crying my eyes out, and I had paint all over my face, because me and my sister painted our faces. I was wearing all their merch, too, like 10 different things.

Do you have a biggest fashion regret?

Probably my style on every red carpet when I was younger. It was horrible. Horrendous. But I also never used a stylist. I didn’t know what stylists were back then. I mean, I knew people were getting dressed and stuff, but there wasn’t really a need for me to have one, because I was on a soap opera. I just always bought weird clothes to wear to premieres. But after PLL [Pretty Little Lies], my publicists were like, “You need to get a stylist.” And I was like “Okay, this is great,” because I finally started looking nice on the red carpet.

What do you always keep in your bag?

Chapstick, powder, sunglasses a little thing of perfume, a charger—speaking of…. [plugs in phone] sorry, it’s at eight percent. Anyways, I also always have my passport—I probably shouldn’t, but just in case!—and eyebrow gel, weirdly. I never leave the house without it.

Do you have a song of the summer?

“Señorita” by Camila Cabello and Shawn Mendes. I listen to it every morning, all day, every day. But I’m also obsessed with Lizzo. “Truth Hurts” is one of the best songs, and just so powerful. She’s so badass and so cool—I can’t.

Do you have any vacation plans?

I was just in Paris for a wedding, and then I went to Saint Tropez for the first time and did a spa weekend, which was really cool. I’m hoping to go back to Italy, to my favorite place ever, Positano, in August. Though I feel like I’ve basically been to every country this year.

What’s been the highlight so far?

Amsterdam is becoming one of my favorite places. I was there two months ago, and then last October, and every time I go, I always extend my stay by like five days. I never get in a car when I’m there—I’m always on my bike. Last time, I took a little boat ride at night and had dinner on there, and I felt like I was in a movie. And I did glow-in-the-dark mini golf and just smoked weed and ate and biked everywhere. And they have the best escape rooms. One of them was in the catacombs; it was two-and-a-half hours long, and I went at midnight, right before Halloween, and I was terrified. I went with three other girls, and we were literally crying in there. My friend got stuck in a coffin for like 10 minutes, and there were all these actors popping out so were all huddling in a corner. It’s really next level, but so fun. So fun. I do escape rooms everywhere I go.

Is there anything else left on your to-do list?

Keep tanning—I’m trying to enjoy it while I can. And keep wearing my sunglasses!

Products

Products

A new sell out product for spots, which is now back in stock, has been getting five star reviews.

ZitSticka is a transparent sticker perfect for when you get a spot out of the blue – as you can place the circular sticker over the spot and let it do its magic. 

Containing 24 microdarts it dispenses a blend of spot-combatting ingredients, including Hyaluronic Acid and Niacinamide: (B3), beneath the skin’s outer layer.

The product, costing £27 for a pack of eight, which has just come back into stock, sold around 250,000 previously and those trying to get rid of spots are raving about how great the product is, with one even calling it ‘life changing’. 

 

+5

•  

ZitSticker is a transparent sticker perfect for when you get a spot out of the blue – as you can place the circular sticker over the spot and let it do its magic 

 

+5

•  

Containing 24 microdarts it dispenses a blend of spot-combatting ingredients, including Hyaluronic Acid and Niacinamide: (B3), beneath the skin’s outer layer

The spot sticker which is water resistant and dermatologically endorsed can be worn over night or even when you’re getting ready for a night out.  

Beauty fans are so happy with the product they’ve been giving it five star reviews, one, who titled her review ‘life-changing’ said: ‘I don’t usually write product reviews but this has completely changed my life!  

‘My skin is very sensitive and I have cystic acne (the one that is under the skin and you can’t pop!) which I have been taking various prescribed antibiotics and treatments to try and calm down for about four years now. 

‘I was pretty skeptical about this product, it’s expensive for only 8 uses and as a student I don’t have much disposable income, but I decided to try it out. Well folks, my skin hasn’t been so clear since I was a preteen!’

The sell out product, which has just come back into stock, sold around 250,000 last time and those trying to get rid of spots are raving about how great the product is, with one even calling it ‘life changing’

‘The patches are clear and very subtle, none of my friends noticed them until I pointed them out! If the idea of the darts freaks you out (same) just know that it doesn’t hurt at all!’

Others said that it was a game changer for their spots and was on their SOS list. One also said: ‘Worked SO well, and quickly. Let’s just say I’m not excited to get another zit, but I’m not that worried either!’

Another admitted: ‘I was aware of the hype around this product after reading about it but wasn’t expecting them to be that different from other zit patches. 

‘Turns out they are quite different and while the microdarts stung slightly (maybe i’m a wimp?) they definitely helped to get the product into the core of the zit!! My pimple felt like it had been fast-forwarded.’

 

 However another reviewer said that it had changed her skin forever. She explained: ‘I had suffered with moderate-severe acne throughout my teenage years. 

‘Now in my 20s, a combination of dietary changes and good skincare had helped to ease the most of it, aside from the painful cystic acne that would appear on my chin and cheeks the week before my period was due or when I had eaten something containing dairy. 

‘I decided to give these patches a go out of sheer desperation – I had several important events coming up and I could feel that the spot brewing was going to be HUGE. 

‘While that particular spot was too far gone for the dramatic effects of the patch to take place, the redness, size and longevity of it was severely reduced.’