Why I Invested in Fishwife
Investment information
Investment date: August 2023
Stage: SEED
What It Is
Fishwife is a modern seafood brand dedicated to making ethically sourced, premium tinned fish more accessible and appealing to consumers. By partnering with responsibly managed fisheries and canneries, Fishwife ensures that its products meet high sustainability and quality standards. The company aims to revitalize the historically overlooked canned seafood category by offering vibrant branding, chef-inspired flavor profiles, and a commitment to transparency in sourcing.
Fishwife's focus on storytelling and curated content has helped it build a loyal following among conscious consumers seeking convenient yet gourmet food options. While currently thriving in direct-to-consumer sales and select retail partnerships, Fishwife has opportunities to expand through additional product innovation and broader distribution. Long-term, the brand envisions itself as a leader in the premium tinned seafood space, reshaping consumer perceptions and setting new standards for sustainable seafood.
Investment Thesis
Fishwife is making waves in the $35 billion domestic canned seafood market, which is expected to grow 4.8% per year for the next decade, nearly doubling in size during over that period. By bringing ethically sourced, premium tinned fish to conscious consumers, Fishwife is establishing a compelling brand that promotes an above-market willingness to pay and strong customer loyalty. As interest in tinned fish and other ready-to-eat, healthy, and sustainable food grows, Fishwife will continue to benefit and grow in value as it expands market share against a sea of inferior rivals and obvious imitators.
In just a short time, Fishwife has expanded across multiple channels, including DTC, specialty, and brick-and-mortar grocery stores. With a strong presence on Amazon and a dedicated following, the company is poised for rapid growth. Leveraging a blend of organic and paid marketing strategies, Fishwife enjoys a $65 average order value (AOV) against a $20 blended CAC. Meaning Fishwife benefits from an instant 3x payback on new customer acquisitions, and enormous customer lifetime value from repeat buyers.
Fishwife's success stems from its meticulous approach to product development, emphasizing sustainable sourcing and quality control. With a diversified global supply chain and partnerships with respected certifying bodies like the Marine Stewardship Council and Aquaculture Stewardship Council, Fishwife ensures its seafood meets the highest sustainability standards. With a growing product lineup—including smoked salmon, trout, and sardines—Fishwife is well-positioned to expand its market share. By continuing to innovate and scale its sales channels, Fishwife is set to become the go-to brand for premium, ethically sourced tinned seafood.
WYNTBs (“What You Need to Believes”)
The recent explosion in popularity for premium tinned fish is a sticky trend that will persist for years to come
Fishwife’s brand and the customer loyalty it engenders forms a strong moat that solidifies the gains in the marketshare that the company continues to secure
Fishwife will continue to add additional attractive products into its portfolio, which will continue to lift its AOV and help the company secure new cohorts of customers
As Fishwife’s product offering and operational scale increases, continue to improve its margins and ability to fulfill order demand from increasingly large wholesale orders
The investment has an attractive return profile
Outlook
Fishwife is well-positioned to become a defining player in the premium tinned seafood space, capitalizing on growing consumer interest in convenient, sustainable, and gourmet food options. By blending innovative branding, ethical sourcing, and high-quality products, Fishwife has established itself as a trusted choice in an evolving market.
Looking ahead, Fishwife's focus on expanding its product line, enhancing its retail footprint, and leveraging digital marketing strategies will drive continued growth. As the company scales its presence across brick-and-mortar stores, Amazon, and specialty channels, its unique positioning will allow it to attract a broader consumer base seeking premium, ready-to-eat seafood.
Fishwife’s commitment to sustainability and robust supplier partnerships ensures a stable supply chain, supporting long-term expansion. With the potential to introduce new product innovations and deepen customer loyalty, Fishwife is poised to shape the future of the tinned seafood category. As consumers increasingly prioritize transparency, quality, and convenience, Fishwife’s growth trajectory positions it to become an industry leader and household staple in the years to come.