Dishoom has a pretty genius marketing play: loyalty members at the Indian restaurant dining before 6pm roll a dice and get the entire bill for free if they hit a 6. The expected value of the discount is 16.67%, less than most Happy Hour deals. But the gambling element just tugs at those psychological strings and really brings customers back to eat at the less busy hours. *** Rory Sutherland on the marketing:

Another recent major L Catterton play was acquiring Birkenstock for $5B in 2021. Birk went public in October 2023 and has been most flat since, but still valued at $9B. I wrote more on that brand and strategy here: