Publisher’s Toast: Star Turn for Beverages

I’ve been around the beverage industry for a long, long time now. It is an industry that is ever evolving and re-inventing itself. The route from launch to success in the marketplace has no set formula. It has seen newly-created categories and trends, packaging innovations, new and exciting product formulations, evolution in routes to market and to the consumer, and always incredible new marketing entreaties.

There is no limit to the difficulties in taking a beverage to market. Yet, with all the ways and steps to launch a brand, there is no aspect more crucial than raising capital.

The capability and speed to go from idea to actualization is almost always dictated by the funding available to the founder. We are all well aware of the high failure rate in the beverage industry. Money isn’t the only thing that can stave off failure, but without it there’s no chance of success.

So, who are the investors? Banks, institutional funds, rich friends and friends of friends and friends of rich uncles. But over the last few years I’ve seen another, exciting source of funding, one that brings high visibility and excitement, join the beverage fray: celebrities, including athletes, entertainers, and those people who are “famous for being famous.”

I find it refreshing and exciting to see this trend. As a rule, they are guided by “they know what they don’t know” which is a good thing. They can leave the day-to-day of beverage marketing to the pros, yet are often involved in a way that has no real downside. If they bring visibility to the brands, so much the better. They give the financial backing to keep the companies alive, and add the sparkle that all you beverage entrepreneurs deserve, as I will always think of you as stars in your own right.