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Else Nutrition
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=== Sensitivities === Else operates in the fast-moving consumer goods (FMCG) space, so important factors are input costs and branding. Reputational risk is particularly high in the infant nutrition space, and regulatory barriers are higher as the segment is highly regulated globally. Else is exposed to supply chain risks as it uses contract manufacturers for production. As a disruptor to the market, it will need to establish its brand credentials in a space that is dominated by many well-established much larger brands. There is execution risk as it scales up, both in the US and as it expands to new markets, and the business will require further equity or debt to support the high growth.
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