Taste Radio

BevNET Inc.
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Aug 20, 2024 • 55min

From $1M To $500M In Five Years, Olipop's Explosive Growth Is No Accident

It's not a stretch to say that Olipop has altered the beverage landscape. Co-founded by industry veterans Ben Goodwin and David Lester in 2018, Olipop pioneered the breakout category of functional, low-calorie soda and has become one of the fastest growing drink brands in recent memory. The company is expected to generate $500 million in revenue this year and its products are sold in over 35,000 retail stores across the U.S., including major chains Walmart, Target, Whole Foods, Publix, Kroger and Costco. Remarkably, the company is also profitable. Olipop's rise, fueled by Gen Z consumers seeking a healthier alternative to legacy libations, spurred the launch of dozens of new entrants into the space. Strategic companies have, expectedly, taken note. The brand's ascent is not common, but its co-founders adherence to business fundamentals, simple and clear messaging, and mission-driven values have given the brand a foundation on which it has flourished. In this episode, Ben and David talk about how Olipop's gradual embrace of the word "soda" has resonated with consumers and why marketing doesn't lean heavily into the products' functionality. They also explain why its mission and economic outcome "will forever be entwined," their perspective on either an alignment with or sale to a beverage conglomerate, and why they strive to be "experts in the leadership" of their business. Show notes: 0:35: Ben Goodwin & David Lester, Co-Founders, Olipop – Ben and David chat about their first appearance on Taste Radio in 2020 before they talk about their passion for electronic music and the former's role as the DJ for Olipop's holiday party. The co-founders also discuss how the term "soda" has undergone a renaissance, how they communicate value to consumers, why nostalgia was embedded in the creation of Olipop and why they are adamant about maintaining the functionality of the beverages, despite external cynicism. They also discuss the benefit of a remote working culture, explain why hiring talented leaders at the strategic level is "beyond critical," draw an analogy to the active ingredients in energy drinks to those in Olipop and why they believe strategic companies see value in functional brands. Ben and David talk further about how listening to Olipop's consumers resulted in the creation of the brand's new shelf-stable line and why entrepreneurs who invest in their mental and emotional health can create great businesses. Brands in this episode: Olipop, Recess, Fuze, BodyArmor, Red Bull, Monster, Celsius
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Aug 16, 2024 • 38min

Is Another Massive M&A Deal Right Around The Corner?

Prior to the announcement of Mars' $36 billion acquisition of Kellanova, the hosts discussed the possibility of a major M&A deal, one that could create a domino effect for some CPG brands. They also opined on the future of NA bottle shops, munch on ramen-flavored snacks and sip on banana cream soda. Show notes: 0:35: Hoodie Jinx. Junk Food, Part Deux. Fung Wah. An Ambient Future. NA & THC. — It's clear that Mike and Ray dressed from the same closet, but neither is into granny thrifting. Ray shares limited-edition flavor of Jacqui's favorite childhood snack and promises to bring her a bag when the team meets up in San Diego next month, and the hosts chat about birthday cake flavor and reminisce about a defunct bus company. They also discuss Olipop's new line of shelf-stable sodas and Poppi's eye-popping marketing spend during the first four months of 2024, before chatting about the first two speakers announced for NOSH Live Winter 2024 and why the beverage industry is cheering for Sechey, but no so much for Boisson. Mike and John crack open a banana beverage and non-alcoholic tequila, respectively, before the former gives an update on his experience with THC gummies. Brands in this episode: Funyuns, Twinkies, Maruchan, Pop-Tarts, Sprinkles, Spudsy, Bang Energy, Olipop, Poppi, Red Bull, Bai, Vita Coco, Zico, Justin's, De Soi, Kin Euphorics, Ghia, Wildwonder,Rudi's, Phil & Goode, Gorilla
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Aug 13, 2024 • 31min

How Everlane's Founder Is Fashioning Success In CPG

Michael Preysman turned heads in 2011 when he launched pioneering DTC apparel brand Everlane. With his latest venture â€" Magna, a brand of sports wellness powders infused with magnesium â€" he has once again captured the attention of many, particularly those in the beverage industry. In 2022, Michael stepped down as Everlane CEO and took a new role as the company's executive chair and climate lead. After handing over the day-to-day responsibilities of running Everlane, whose 2023 revenues are pegged to be north of $200 million, Michael focused on Magna, which debuted last month. Leading with the tagline "for those who play the long game," Magna markets hydration powders that are made with three forms of magnesium along with electrolytes. The company, which developed the products in partnership with doctors and athletes, are promoted as providing greater focus, energy and recovery. Magna comes in four flavors â€" lemon lime, tea lemonade, watermelon lime, and peach mango â€" and is sold direct-to-consumer via its website, where a box of 30 sachets sells for $55 or $45 by subscription. In this episode, Michael spoke about how his personal interest in magnesium spurred the development of Magna, how he leaned into his skill set to create the brand, lessons from building Everlane that he is applying to the new company and the surprises and challenges that have come during his second stint at entrepreneurship. Show notes: 0:35: Michael Preysman, Founder, Everlane & Magna â€" Michael and Taste Radio editor Ray Latif chat about their respective philosophies on facial hair, whether the entrepreneur wears his own brand and why 1/11/11 is an important day in his life. Michael also discusses the origins of Magna and why he chose to create a beverage powder versus an RTD, creating authentic relationships with customers, his perspective on differentiation for both Everlane and Magna and why the latter's packaging draws inspiration from a cigarette brand. He also talks about content creation and the value of people in advertising, how he thinks about and implements a customer service strategy, why co-packing is trickier than he anticipated and how to identify and work with mentors. Brands in this episode: Magna
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Aug 9, 2024 • 32min

Simple Is So Powerful. Complicated, On The Other Hand…

A promising brand shut its doors this week, and its founder claimed that a confluence of factors led to its demise. Taste Radio's hosts, however, wonder if the company's problems stemmed from a single simple issue. They also riff on the ubiquity of "brat summer," toss Twinkies and pop bottles of the NA variety. Show notes: 0:35: Pump Up The Jam. Dude Dad x Rizzberry. Kelp Burgers. Pasta Snacks, Pt. 3. Cuppa Projo. – Jacqui reveals her pre-banter routine, Ray breaks out an unexpected and mysterious snack that Mike starts to throw at everyone, and John turns to ChatGPT for some assistance. The hosts also discuss Akua's decision to cease operations and whether its kelp-centric portfolio had a viable path to mainstream retail, before they sip on bubbly libations and snack on pasta-based puffs. Brands in this episode: Twinkies, Little Saints, Akua, Actual Veggies, Impossible Foods, Seacherones, Eat The Change, Just Ice Tea, Oddbird, Ghia, S'Noods, Penne Straws, Goya, Lottie's Meats, Loisa, Tantos, Saga, Lapo's, Projo
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Aug 6, 2024 • 49min

Recess (R)evolution. How This Pivot Helped Build A Relaxation Empire.

Upon its much hyped debut in 2019, Recess was dubbed by the press as "the Lacroix of CBD." Founder and CEO Ben Witte has always preferred a different tagline: "the Red Bull of relaxation." CBD was the fuel for Recess' hot start, but when the beverage industry cooled on the cannabinoid — the result of a challenging regulatory environment — the company turned to another trendy ingredient: magnesium. In 2021, Recess introduced Recess Mood, a new line of sparkling waters infused with magnesium and adaptogens and marketed as modern relaxation beverages. Leading with the tagline of "calm, cool, collected," the products have become the primary driver of sales of the brand and represent the vision that founder and CEO Ben Witte says he always had for Recess: a platform of beverages intended to help people relax. The company later added Mood powders to the mix, and in 2022 launched a line of zero-proof mocktails that Ben describes as a natural extension of the brand. Recess has emerged from the pivot as a prime-time player that is sold in over 18,000 stores nationally and is one of the best-selling beverage brands on Amazon. It is mentioned and merchandised alongside the likes of high-profile drinks like Olipop, Poppi and Liquid Death. In this episode, Ben talks about how he navigated a shift toward a product mix that realizes his vision of a relaxation beverage platform, how Recess built a thriving online business, how the company utilizes consumer feedback to support its sales and marketing efforts and why it is preparing for a major expansion in brick-and-mortar retail. Show notes: 0:35: Ben Witte, Founder & CEO, Recess â€" Taste Radio editor Ray Latif recalls his first interview with Ben and the hype around Recess' launch in 2019, before the entrepreneur talks about his reasoning for developing a brand focused on relaxation and how the timing of Recess' launch benefited the brand. He also discusses the strategy of building a digitally native omni channel brand, how a quote from Amazon founder Jeff Bezos helped him realize the importance of patience, and how he identified magnesium as an anchor ingredient for Recess. Ben also explains how the rise of non-alcoholic beer has helped the development of Recess' zero-proof cocktails, how consumers' interactions with consumers has evolved and the brand's communication has changed and how brick-and-mortar success is tied to online advertising. Brands in this episode: Recess, Olipop, Poppi, Liquid Death, White Claw, Athletic Brewing, High Noon, Cutwater, Topo Chico, Kin, Ghia
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Aug 2, 2024 • 1h 11min

Is Capital Starting To Flow Again? Plus, A New 'Fast Track' Emerges.

Does the announcement of a new $135 million fund offer any indication about the flow of new capital in food and beverage? The hosts discuss and also highlight a Poppi-infused snack, Walgreens' private label prowess and some "notable" folks. This episode features an interview with five entrepreneurs, including the founders of Little Spoon, Four Sigmatic and O2, who are drawing upon their extensive experience, networks and resources to support emerging brands via a new venture called CPG Fast Track. Show notes: 0:35: Yosemite's Erewhon. Pop-Guac. No-tables. Mo' Money. Nice! Naked & Famous. Feed Bags. – Jacqui recounts her visit to one of America's most famous parks and its well-stocked general store, the Newton crew misread a snack recipe and poured soda into guacamole, and the hosts chat about Nosh's praise for "notable" leaders and influencers in the food industry. They also reflect on Siddhi Capital's launch of a second fund and what it means for emerging and growth-stage brands, share their takes on a well-known drug store's private label brand and compare it to those of Walmart and others, and highlight a few new products, including ramen-flavored popcorn and a canned cocktail with a nude-ish name. 37:06: CPG Fast Track Co-Founders – Launched by five industry executives – Dave Colina, founder and CEO of O2 Hydration; Jason Feifer, editor-in-chief of Entrepreneur magazine; Lisa Barnett, the co-founder of Little Spoon,; Markus Karjalainen, co-founder of Four Sigmatic; and Matthew Gartland, co-founder and CEO of SPI Media – CPG Fast Track works with entrepreneurs who are beyond the proof point phase of their businesses and beginning to scale retail presence and distribution. In this conversation, we speak with the quintet about how they are utilizing their collective experience to provide mentoring and additional forms of training to carefully selected groups of founders. Brands in this episode: O2 Hydration, Little Spoon, Four Sigmatic, Fishwife, Heyday Canning, MiLa, Mason Dixie Foods, Once Upon A Farm, Better Sour, RXBAR, DeeBee's Organics, Chomps, Poppi, Peepal People, Doosra, Paro, Momofuku, Mid-Day Squares, immi, Aura Bora, Caulipower, Olipop, Taika, Nomad Snacks, Tip Top, San Diego Bar, Gorilla
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Jul 30, 2024 • 31min

LesserEvil Is Doing Good. Really Good. Attitude & Operations Are The Keys.

Dive into the inspiring journey of a snack brand that bounced back from near bankruptcy to national prominence. Discover the secrets behind its impressive growth, including an innovative self-manufacturing approach. The CEO shares insights on prioritizing attitude over qualifications in hiring and the importance of authenticity in branding. Learn how the company navigates the complexities of sourcing organic ingredients and manages rapid expansion while keeping snacks affordable and healthy. It’s a fascinating look at leadership, community, and sustainable growth in the food industry.
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Jul 26, 2024 • 41min

When Innovation Goes Right… And, When It Goes Terribly Wrong.

There's high praise, some head-scratching and outright dismay in this innovation-centric episode of Taste Radio. Among the highlights: an upstart labneh brand and a Gen Z-inspired line of better-for-you soda. Less appealing: a corporation's commodification of ethnic foods and global flavors. Show notes: 0:25: It Sounds Phishy. Mike Gets A Treat. No Cap. A Tiny Moment. Oh, Ben. Spicy Bread. – Mike is back and shares some deets about a THC-fueled concert before he gets his chance to sample a viral frozen dessert. Ray realizes that a new beverage brand is not for him and that its clever name went over Jacqui's head. The hosts wonder whether labneh can go mainstream and are agitated by two new brand extensions launched by Ben's Original. They also chat about high-flying gummies and shots, avocado bread (!) and why European wheat makes all the difference. Brands in this episode: GoodPop, Ore-Ida, No Cap!, Bezi Labneh, Yaza, Ben's Original, Gorilla, Fable, Magic Cactus, Flyers Cocktail Co., Calexo, Brez, Cadence, Novo Brazil, Revival Einkorn, Ceybon, The Avocado Bread Co.
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Jul 23, 2024 • 42min

Yes, Somos Made Mistakes. But The Fix Is Helping Them Make (And Feed) Millions.

When Miguel Leal and his co-founders launched the modern Mexican food brand Somos Foods in 2021, they believed they were introducing a "Goya for millennials." It turns out that Somos was more suited to be a "Rao's for all consumers." Miguel is the CEO of Somos Foods, which he founded with Kind Snacks founder Daniel Lubetzky and Rodrigo Zuloaga, who, like Miguel, is a former Kind executive. Somos markets clean ingredient "simmer sauces," salsa, rice and beans produced in Mexico and made using traditional techniques, according to the brand. The products are distributed in over 11,000 retail doors, including Target, Publix, Whole Foods Market, Walmart and Albertsons. While the founders' original concept – to "re-envision Mexican cuisine in the U.S. with a focus on authenticity, convenience, and sustainability" – has remained consistent, the communication of that message has evolved. Somos is now positioned as a brand for "Mexican meal solutions." Miguel says that the shift required the company to rethink nearly every aspect of the business, including marketing and product development. The undertaking was challenging and, at times, humbling for Miguel and his co-founders, each of whom have decades of experience in the food industry. In this episode, Miguel speaks about the genesis of Somos, how he and the team came to the realization that the brand needed to adjust its positioning, mistakes that, in hindsight, were avoidable, identifying areas for improvement in how the products tasted and were named, and how their timeline for an potential acquisition has changed significantly. Show notes: 0:35: Miguel Leal, Co-Founder & CEO, Somos Foods – Taste Radio editor Ray Latif visits with Miguel at Somos HQ in Stamford, Connecticut where the entrepreneur chats about the brand's new simmer sauces, his roots growing up on the Mexico/U.S. border and how his profession career is anchored in food marketing. He also explains how the creation of Somos came from he and his co-founders being "frustrated with the options at US grocery," how they erred in trying to build the brand in a similar way to how Kind Snacks was built, why he compares Somos to Legos and the meaning behind its name. Miguel also discussed the company's emphasis on simple messaging and easy food prep for consumers, why he thought that at the outset that "in 3-5 years Somos could be a great acquisition target" and how he communicated the shift in strategy to the company's investors. Brands in this episode: Somos Foods, Kind Snacks, Cholula, Goya, Rao's
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Jul 19, 2024 • 58min

The Kids Love Nostalgia. Ask Hal's. Plus, Celebs With Cred.

Sweet. Savory. Celeb. The hosts check all the boxes in an episode that looks at how consumers evaluate authenticity between brands and celebrity endorsers. We also feature an interview with Stephanie Reda, the director of brand development for fast growing snack and seltzer brand Hal's New York. Stephanie outlines the history of Hal's and discusses the brand's retail and distribution strategy. She also talks about Hal's marketing and social media initiatives, and how her role has evolved as Hal's enters its 10th year in business. Show notes: 0:25: All Alone. At Sea. The OG Combo. Discounts Are Great. Gin & JLo. Recess Time. Cowcohol. – Ray finds himself in a rare spot, while John and Jacqui rock the WCB studio. The hosts highlight one of the most interesting sweet and savory combinations in recent years before pointing out an easy way to save money this fall. They also reflect on an article penned by BevNET spirits editor Ferron Salniker about celebrity-backed beverage alcohol brands and how credibility plays into consumers' purchasing decisions. Ray praises a new non-alcoholic RTD cocktail and shares an oddly-named vodka while Jacqui features a brand of THC seltzers. 35:53: Stephanie Reda, Director of Brand Development, Hal's New York – Stephanie is the director of brand development for Hal's New York, which markets flavored seltzers, ginger ale and salty snacks, including potato chips, popcorn and pretzels. Launched in 2014, Hal's is known for its folksy, old-school branding and that products are a common sight at bodegas throughout New York City. Hal's is also distributed at several chain retailers, including Target, Whole Foods and 7-Eleven. Brands in this episode: Hal's New York, Ore-Ida, Good Pop, Casamigos, Teramana, Cabo Wabo Tequila, Delola, Gin&Juice, The Long Drink, Recess, Nutcase, Crescent 9, TMK Distilling

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