BUSINESS
Target jumps into pet food biz with launch of in-house brand Kindful. Declines to answer questions recommended by vets for evaluating pet food, but promises response by Tuesday.
This weekend, Target joined the growing list of retailers getting their paws in the $42 billion US pet food market which saw nearly 10% growth in 2020; of all of the sectors in an all-around thriving industry, pet food is the sub-sector that has done exceedingly well. Target (TGT) will report its second-quarter earnings on […]
Trupanion launches lower-cost, “Furkin awesome” Furkin [“fur-child”]
This story has been updated. Trupanion, Inc., the Seattle-based pet insurer, is expected to launch millennial-friendly Furkin (literal translation: “fur child”) in Canada in the next 48 hours. Update: Furkin’s website quietly went live over the weekend and we expect to hear from Randy Valpy, who is overseeing the company’s Canadian insurance products, including a […]
Pet insurers threaten to oppose model law if regs block lengthy waiting periods; consumer reps blast industry trade group NAPHIA
During a contentious ninety-minute Pet Insurance Working Group meeting on July 22, insurance regulators and consumer representatives clashed with pet insurance industry stakeholders over language that would restrict the ability of pet insurance companies to impose lengthy waiting periods on consumers in what would be America’s first significant piece of pet insurance legislation. “We have […]
Consumer reps blast pet insurance industry in scathing letter; our story to follow
In damning written comments submitted to the Pet Insurance Working Group task force on Wednesday, consumer representatives blasted the pet insurance industry’s trade group, the North American Pet Health Insurance Association (NAPHIA), for comments made by the group’s attorney Cari Lee during last week’s meeting. “We have given, and given, and given, and given, and […]
Dog DNA testing startup Embark raises $75 million in second funding round
Embark Veterinary, Inc. announced this morning that it has raised $75 million in Series B funding, a term often used by bankers to describe the second round. According to the company’s press release, it represents the largest cash injection for a pet industry startup in its second round. TCR has not independently verified that claim. […]
High-brow pet insurer launches breakaway, “fluff-free,” low-cost product; first of several launches in Trupanion’s 60-month plan
America’s second-largest pet insurance provider Trupanion, Inc. (Nasdaq: TRUP) has just launched a “time-limited,” low-cost pet insurance brand in Canada, PHI Direct, which will launch in the United States later this year, along with a third insurance product at a medium price point, Furkin. But unless you follow insurance closely or read TCR, you may never know that Trupanion is the parent company.
Freshpet dog food suspected of Salmonella contamination and designated for trash is shipped to retailers instead; FDA announces Freshpet recall
New Jersey-headquartered Freshpet (FRPT: NASDAQ) is recalling Select Small Dog Bite Size Beef & Egg Recipe due to suspected Salmonella contamination, the U.S. Food and Drug Administration announced Sunday. Freshpet, founded in 2006, was one of the earliest pet food companies to market non-traditional pet food diets to consumers. “Freshpet has a single-minded mission,” its […]
Special Report: As America’s pet insurance industry goes mainstream, do companies insure themselves or you?
Special Report: As America’s pet insurance industry goes mainstream, do companies insure themselves or you? Pet insurance in America is going mainstream. The question is now more a matter of how. Earlier this month, pet insurance companies reported a 27.5% increase in total premium volume in the United States in 2020 over 2019, a […]
