Last year, when razor startup Harry’s backed a cat food company, it was -- in part -- due to the work of Tehmina Haider.
Haider is the head of Harry’s Lab, which both launches new CPG brands as well as invests in and acquires existing ones. Haider described the operation as being a “diversification engine.” She joined the Modern Retail Podcast and explained how she’s built out the program over the last three years.
Haider’s background is in consumer investing, hailing from L Catterton where she helped fund brands in the beauty and personal care space. She joined Harry’s in 2018, around a year after Harry’s Lab first started. Her mandate was to take her past investing experience and put that toward the task of building out an expansive Harry’s umbrella.
The idea, she said, is that “we, at Harry’s, can really help brands that are focused on the same things that we are: Disrupting categories and serving consumers better, scale and successfully grow.”
So far, Harry’s Labs’ work has materialized in a variety of ways. The first company Harry’s Labs launched was Flamingo, a women’s body care brand. But the company also invested in Cat Person, a DTC cat food company. Harry’s Labs began as a way for the company to launch its own brands, but has evolved into a growing M&A engine.
This work, of course, is easier said than done. Much of Haider’s day to day is finding the next big brand to either build or acquire. This, she said, is where her work differs from her investing past. While investors are focused primarily on the economics (something Harry’s, of course, is also focused on too), her team is also looking for companies that have long-term ambitions. She’s not trying invest in a company and make a quick profit.
“We’re buying to own,” she said.