| | | | | 📰 Today's Top Story | | | How do you sell a mushroom-based energy drink? Like an energy drink, it turns out. That’s a slight exaggeration, of course; Florida-based startup Odyssey Wellness — touting the high concentration of adaptogenic and nootropic fruiting body extracts from Lion’s Mane and Cordyceps in its eponymous Elixir line — is seeking to establish itself as a next-gen, better-for-you alternative to the category leaders. But to do so, it’s turned to someone with experience from the other side: former Monster Energy (and Essentia Water) vet Antonio Torres, who came on board as Odyssey’s VP of sales earlier this month. As the brand aims to expand its presence beyond the Sunshine State and into regions like the Midwest and West Coast, where the product has been seeded in retailers like Fresh Thyme and Meijer with some success. We caught up with Torres this month at BevNET Live Summer 2023 in New York City to discuss how his past experience in energy translates to his new role, and what the company has planned for the upcoming months. What elements of your experience with Monster translate over to Odyssey, and which parts are you approaching in a new light? Well, Monster was energy right? And still people want energy right now. I think they're just looking for him different format: better ingredients, better sugar, better delivery. In terms of the difference, I think it's the same consumer just a new generation. Monster and Red Bull will be like the Bud Light and Miller Lite for this generation; that’s Mom and Dad’s drink. I think this is trending towards the future delivery format for Gen Z. It’s the same target as Monster was back then — young college students — but they have a different mindset and they’re wanting something better. Monster’s brand identity was closely aligned with action sports and outdoor experiences… How does Odyssey compare? While I was at Monster, I started doing everything away from action sports — (thing like) fashion, different genres of music, art, culture — because everybody needs energy, not just action sports. Let’s stop battling for the same piece of the pie. The same thing here: we will have a core — the college demographic — but it will develop into a lifestyle brand. It’s just about educating consumers about this new delivery format. What are you short term priorities for the rest of this year? Building the plan and our whole brand framework, and answering some of the questions that are missing: What's our position? What's our messaging? What's our tagline? And also making sure that our package is really speaking to our demographic, so some tweaks and cleanup to the design to make sure the message is direct and very understandable. You need to have that brand framework first, then build your design. It’s not going to be a complete overhaul. We want to keep some elements because it has been work has been pulling off the shelf. We're just going to touch it up. |
| | 👉🏼 What You Need to Know 👈🏼 | | | Since its launch one year ago, investment firm Pronghorn has been working at rapid-pace to change the disparities in the spirit industry: while Black Americans represent 12% of all consumers, they represent only about 7% of the spirits labor force and 2% at the executive level. - On Tuesday the firm marked its one-year anniversary with the announcement that it has raised $200 million in fundraising to support its mission to cultivate the next generation of Black entrepreneurs and executives in the spirits industry.
- Highlighted in its impact report are its investments in a portfolio of 19 brands, who have experienced substantial overall growth, averaging 101% according to Nielsen IQ in the last 52 weeks ending May 13.
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| | Pour out a bottle: Less than one month after music mogul and entrepreneur Sean “Diddy” Combs filed a lawsuit against business partner Diageo, the global spirits company announced today it has severed ties with Combs. - The original complaint alleged that the brands Combs co-owns with the spirits group, Cîroc Vodka and DeLeon Tequila, were given worse treatment because he’s Black.
- Diageo has asked the judge to dismiss the lawsuit or send it to arbitration, and alleged that the lawsuit from Combs is a public-relations focused strategy aimed at disparaging Diageo.
Read the full story on BevNET |
| | | Casa Azul has tee’d up another celebrity partnership: U.S. Women’s Open Champion Michelle Wie West. The athlete joins actor Eiza González and Kansas City Chiefs tight end Travis Kelce as a brand investor. - Founded by serial beverage entrepreneur Lance Collins— the beverage mogul behind Fuze, Core Hydration, and Body Armor—Casa Azul Tequila Soda launched in August 2022, and Casa Azul Organic Tequila launched in March 2023.
- After releasing the RTD, the company shifted its attention towards betting on celebrity investors and a “modern, luxury” brand to fuel sales.
- The move to bring in one of the most prolific names in women’s golf mirrors other tequila companies affiliating with the sport— Tequila Avión recently partnered with golf-enthusiasts, professional basketball player Nick Young and former football wide receiver Victor Cruz to offer cocktail kits with autographed golf accessories.
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| | | Craft spirits maker Tattersall Distilling has launched a reformulated version of its RTD canned cocktails with less sugar, less calories and lower ABV (4.5%). - Existing SKUs Key Lime Gin + Tonic and Blueberry Basil Collins are intact, now joined by a new flavor, Grapefruit + Ginger.
- Tattersall's RTDs are available now in 12 oz sleek cans in 4-packs ($12.99-14.99) of individual flavors and 6-can variety packs ($19.99, two of each flavor) across Minnesota and Wisconsin.
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| | | - Asian fruit inspired sparkling water brand Sanzo is now available at all Stop & Shop stores in 6-packs, the brand’s founder and CEO Sandro Roco announced on LinkedIn yesterday. Roco hinted at upcoming activations to support the launch in the East Coast retailer, complimenting the brand’s Eastern sales team as well. The expansion comes two weeks after Sanzo announced it had become the official sparkling water for the PPA Tour pro pickleball organization.
- Nutpods is making gains behind its first RTD release, Creamy Cold Brew, that debuted back in April: the two-SKU line is now available on Amazon and is set to enter Kroger, Walmart, Target and Albertsons Safeway later this summer, per a press release.
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| | | | Hot dogs, beware: Seemingly determined to breakthrough the limits of innovation and good taste (remember Flamin' Hot MTN DEW?), Pepsi has announced the arrival of Colachup, "the world's first Pepsi-infused condiment." - The "distinctive flavors and vibrant citrus blend of Pepsi enhances the bright and tangy characteristics of ketchup, offsetting the smokiness of the hot dog," said David Kamen of Culinary Institute of America (CIA) Consulting, which assisted with the product's development.
- Colachup will be offered exclusively within the ballparks of four major league baseball clubs -- Detroit Tigers, Minnesota Twins, Arizona Diamondbacks and New York Yankees on July 4.
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| | | Costco is one of the ultimate club channels for natural CPG. In tomorrow’s Community Call, learn how they do business, what they're looking for from brand partners, and how to thrive after you get on shelf. Register. |
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