Unit Economics

[Spring & Mulberry] Kathryn Shah


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This week, we sit down with Kathryn Shaw, co-founder of Spring & Mulberry, the chocolate brand redefining sweetness with through its use of whole foods. Kathryn shares the deeply personal story that sparked the company and how it led her to rethink indulgence completely.

She walks us through the surprisingly complex journey from kitchen experiments to commercial chocolate production: searching for co-manufacturers, navigating minimum order quantities, building early demand, and playing “inventory whack-a-mole” after early press from Forbes and Bon Appétit. Kathryn breaks down the realities of launching as a premium brand, from dialing boutiques via Instagram DMs to understanding the hidden mechanics of grocery distribution, freight, and setup costs.

We also dive into today’s chaotic cacao market (with prices up nearly 5× since 2022), how a small brand finds efficiencies to stay competitive, and why packaging, positioning, and premium experiences matter more than ever. Kathryn shares lessons on PR, omni-channel marketing, hiring slowly, and the role of relationships — plus what’s next as Spring & Mulberry expands beyond date-sweetened chocolate toward a world of “sweet beyond sugar.”

If you're interested in CPG, brand building, grocery strategy, or the intersection of wellness and indulgence, this is an episode you won’t want to miss.

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Unit EconomicsBy The Unit Economics Podcast