Hello Bello, the environmentally-friendly diaper and baby products startup founded by two TV stars, filed for bankruptcy with a plan to sell its business after its pandemic-fueled expansion faltered due to rising shipping costs and inflation, WSJ Pro Bankruptcy reported. Unconditional Love, the company behind Hello Bello, founded in 2019 by actors Kristen Bell and Dax Shepard, quickly gained popularity to become the biggest direct-to-consumer diaper brand by 2021. The company’s net sales reached $200 million by 2021 when it signed up 130,000 subscribers, according to court papers filed by Chief Executive Erica Buxton. Shepard and Bell are listed as holders of more than 12% of the company’s common equity, according to a court filing. The company has a deal to sell itself to New York-based investment firm Hildred Capital Management. An investment in 2020 by private-equity firm VMG Partners helped the startup expand its product offerings as well as its reach beyond Walmart, its first retail partner, to grocery, drug and specialty retailers in the U.S. and overseas, according to the court filing. In addition to diapers, training pants and baby products the company also sells sanitizers and vitamin gummies.
