Coca-Cola’s $15 million investment in functional beverages is actually a brand that wins by “value”
On December 20, the Coca-Cola Company announced a $15 million acquisition of a stake in Iris Nova, the parent company of the functional beverage brand Dirty Lemon. So far, Coca-Cola has become one of the largest investment companies in this startup.
Dirty Lemon，A high-end functional beverage brand, founded by Zak Normandin and Sommer Carroll in Brooklyn, New York, in August 2015. It cooperates with Twilio to establish an artificial intelligence SMS communication platform and establish a payment system through Stripe to achieve Consumers can only order products with a "frictionless" experience by text messaging.
Iris NovaCEO Zak Normandin said: “When we sort out what Iris Nova wants to accomplish, we find that there is really no better partner than Coca-Cola. If you look at Coca-Cola’s global achievements through branding and distribution. It will be understood that it is really a model of Iris Nova and the brand we are going to launch next time. And this partnership provides us with some resources that can be executed in a faster and more efficient way.“
Zak NormandiThe investment was made through Coca-Cola North America's Venture Capital and Emerging Brands (VEB) division, which is responsible for supporting the development of multi-billion dollar beverage brands through investment or acquisitions. Earlier this month, when it announced the integration of certain VEB brands into the larger Coca-Cola ecosystem, VEB President and General Manager Scott Uzzell said the move would allow the division to maintain a rich brand of inflows to North American Coca-Cola (CCNA). ) business, they willExtend and enhance your business through the “identify trends, invest quickly and support founders” approach.
Later in a published statement, Uzzell also said: "As a futurist in our company, we are investing in thought pioneers like Zak and companies like Iris Nova that can help us take advantage of consumer trends and adopt new technologies. Bring more products to market faster.“