The second day of BevNET Live Summer 2023 in New York City brought a slate of speakers and panelists to the stage discussing how to build successful beverage brands, including representatives from both Whole Foods Market and Walmart who gave advice on how to win on the shelf in nationwide retailers, as well as a number of founders at all stages of growth who offered lessons on everything from building a business to fundraising to aligning a brand in advantageous partnerships. The day covered a lot of ground tapping into the expertise of distributors and an insightful discussion of how the non-alcoholic category is converging more and more with the growing RTD cocktail set. Here are some of the highlights:

• Former Essentia CEO and current CEO and co-founder of enhanced water brand YESLY Scott Miller said that in his 30+ years as a beverage industry executive he has found that learning what you stink at can be one of the best weapons in an entrepreneur’s arsenal. “An entrepreneur is really about having a vision when nobody else does and when really nobody else believes,” he told the audience Thursday morning. He has used this philosophy of being “constructively dissatisfied” throughout his career to prioritize culture within his various endeavors. 
• A panel of industry leaders including Spindrift founder and CEO Bill Creelman, Boston Beer Company CMO Lesya Lysyj, and former president and GM at Coke’s VEB Unit Matt Hughes discussed how to successfully bridge the non-alcoholic category with the growing RTD cocktail set. All three executives stressed the need for patience and the ability to pivot if the first attempt does not hit the mark. “Tread very carefully,” Lysyj said. “The biggest mistakes we've made [at Boston Beer] is we go too fast, we get too excited, and we go too quickly.”
• The founders of The Ryl Company, G.O.A.T. Fuel and The Bad Tea Co. discussed how having a firm grasp of all aspects of a beverage company’s business from understanding margins to a detailed go-to market strategy to being honest about challenges are some of the most important tools in seeking investment during tougher economic conditions.
• The co-founders of zero-sugar lemonade and tea brand Swoon closed out Day 2 by explaining how the brand has been unafraid to “shoot its shot” in going after high-profile partnerships with influencer Emma Chamberlain and the upcoming Barbie movie. Swoon has been successful in these brand-aligned partnerships by staying authentic to the company ethos, using 360-degree activations and making unexpected moves.

Read the full Day Two recap on BevNET.

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Non-alcoholic cocktail maker Parch was crowned the champion of BevNET’s New Beverage Showdown 25 yesterday, joining a cohort of well-known beverage brands like Rise Brewing Co. and Health-Ade who have also claimed victory in the biannual pitch competition. The judges praised the brand for its ability to create a mixologist experience in a can: a feat far easier said than done. Coming up on its one-year anniversary, Parch is currently available in 47 states and 550 stores and exporting into Canada where it claims it cannot keep the product on the shelf. Looking ahead, the New Beverage Showdown 25 champion plans to release additional flavors, as well as its first collaboration, in the coming months. Read the story and watch the recap.

Powdered energy drink maker Pureboost is harnessing the tang of Apple Cider Vinegar for its newest product launch. The new variety will join Pureboost’s Superfoods line that contains Green Mojo and Red Burst flavors. Each .41 oz. antioxidant-rich, stick pack contains over 1,000 mg of apple cider vinegar, no sugar or sucralose and is packed with green tea-derived caffeine, vitamin B12 and 25 other vitamins supporting gut health and metabolism. The new product comes on the back of a $2.8 million raise drawn from over 700 investors on the crowdfunding platform Wefunder. The company claims $8.5 million in revenue in 2022 with a goal of hitting $100 million by 2026.

A month after rolling out across Canada, Guru Energy’s new Theanine Fruit Punch drink is already getting credit for pushing the company’s net revenue to a new high, reaching $7.7 million in Q2. According to an earnings report this week, Guru’s sales increased in both Canada and internationally, but in the U.S., sales declined by $1 million following the expiration of its tenure in the Sam’s Club one-time program. In the U.S. natural channel, recent scanner data from SPINS shows the brand saw +18% growth over the last year. The company also enjoyed lower operating expenses with both general and administrative costs as well as selling and marketing fees dropping around $2 million due to a “more targeted” strategy that rolled out in Q2. 

“Based on last year’s learnings and data, we have adjusted our marketing strategy to be more targeted and cost-effective,” said CEO Carl Goyette. “We are definitely in a better position than we were last year.” 

Join Ed Davidson, demand planning and operations expert, and Kelli Wilson of Partake Foods as we discuss best practices for demand planning and how to tighten up operations to cut costs and improve your bottom line. Register for free.