USA – Bev, a Los Angeles-based female focused beverage brand has announced that it has received an undisclosed amount of capital from a pool of investors to support the brand’s mission of transforming the largely male-dominated beverage industry.
The investment was led by Erin and Sara Foster, Creative Heads of Bumble BFF and Bumble Biz, alongside additional capital support from Rich Paul, Simon Tikhman, Keith Sheldon, and Chief Zaruk.
Bev, which is also Backed by the Female Founders Fund, The Chainsmokers, and The Foster Sisters, is breaking the glass by challenging male-dominated industries and building a more inclusive, respectful drinking culture.
The company has launched its first product, a canned California rosé wine with a 11.9% ABV, 0 grams of sugar, and 3 grams of carbs. The products are already available in California, Nashville, and Texas as well as online platforms nationwide.
With this new investment, Bev Founder and CEO Alix Peabody, will work with these creative and investor roles on creative ideation, business and product development.
The company noted that this will be instrumental in the launch of Bev’s forthcoming ‘Made By Chicks’ media platform and accompanying podcast, slated to be released in March 2020.
Under Alix’s leadership & strong support from Erin & Sara, Bev’s upcoming ”Made By Chicks’ platform will cultivate an entrepreneurial community centered upon women supporting women with vulnerability and authenticity.
With the growing global beverage market expected to reach an estimated US$1.9 trillion by 2021 and the wine market alone expected to reach $450.49 billion by 2024, Peabody identified an opportunity to lean into a vast market white space.
Peabody explains: “Unfortunately, large alcohol companies have failed to connect with women, even though women are responsible for 65-70% of purchasing decisions around wine and spirits in the home,”
“Canned wine sales alone have risen over 80% in 2019 versus 2018. The time is overly-ripe for a seismic industry shift.
“We want women to know that drinking can be fun, inclusive, and safe. Women can be their authentic selves when they drink a Bev.”
Simon Tikhman, new Bev brand investor said: “With Erin, Sara, Rich, Chief, and Keith partnering with Bev, the brand’s continuing momentum will be unstoppable.
“I cannot wait to be a part of the newfound and upcoming innovations the brand will be unveiling in 2020 and beyond, and am excited to see the brand’s forthcoming distribution escalation this year with Southern Glazers.”