If you've been to a live event recently, you may have noticed something called Liquid Death being sold at food and drink stands.
For those who don't know, the name can be a little scary. But “Liquid Death” is just water in a can.
The brand, which has been independently owned and operated since its founding in 2017, has now raised a new round of investment valued at $1.4 billion.
Liquid Death announced in a release Monday that it has global sales of $263 million and is sold in 113,000 retail stores in the United States and United Kingdom. The company announced that it had recorded “triple-digit” growth for the third year in a row, making it the fastest. – Growing water and iced tea brands, as quoted by market research group SPINS.
It may seem surprising that a company that simply sells water is growing so quickly, but that's the problem, experts say.
“That means it's just water…” teeth This has been the key to Liquid Death's success to date,” Brad Avery, senior reporter at industry news group BevNET, told NBC News in an email. “If you look at the branding in the bottled water category, a lot of it has revolved around themes like water purity, superior levels of hydration, etc. One of the reasons why Liquid Death has become so popular is that , because it subverted every metaphor for bottled water” bottled water marketing as we know it. ”
sell water like alcohol
In other words, branding is one of the main selling points. Founder and CEO Mike Cesario said the name “Liquid Death” stands for the idea of ”killing thirst” and “death to plastic.” Liquid Death drinks are packaged in aluminum, which is more recyclable than plastic.
“We want to create drinks that are truly healthy and good for you, but we just do it in the same funny way that typically unhealthy brands are marketed,” Cessario said in an interview with NBC News. ” he said.
He said junk food brands and beer are also known to use comedy, but they do so to sell unhealthy products.
“We're making fun of the corporate marketing that everyone hates,” Cesario said. “People are now spending $10 a month for an ad-free service because it has no entertainment value. We're making fun of marketing with our brand. ”
The brand also has a large following on social media, with 5 million followers on TikTok and 2.9 million followers on Instagram. Mr. Cessario has a background in viral campaigns for Netflix shows such as “Stranger Things” and “House of Cards,” and has worked with Blink-182 drummer Travis Barker, former “Jackass” star Steve-O, He has worked with influencers such as comedian Bert Kreischer. One of them is now an official investor.
The company's TikToks typically rack up hundreds of thousands of views, with one reaching nearly 23 million views.
A night out removes the stigma.
If you're having a night out at a bar with friends and you're the only one not drinking, it's silly to hold a bottle of plain water while everyone else is drinking beer or cocktails. You might feel like you're there, Avery says.
Liquid Death is designed to eliminate that moment, he said.
“Frankly, Liquid Death cans look cool,” Avery said. By packaging non-alcoholic drinks in the shape of beer cans, it has the psychological effect of making them easier to drink, even for people who value image.
Cessario previously said that one of the inspirations for Liquid Death was that some musicians who prefer to drink water on stage would pour water into energy drink cans for fear of embarrassment or the need for sponsorship. He says he came here from the moment he learned about it.
In fact, Liquid Death's underlying market is still a fan of live entertainment. And America's largest live event company agreed. Live Nation is one of Liquid Death's longtime investors and participated in the company's latest funding round.
“We originally invested in Liquid Death because we believe their brand and community are a great fit for the world of live music,” Live Nation CEO Michael Rapinoe said in a statement to NBC. Ta. “This is proving to be a powerful combination as water sales continue to increase across events, while demand for Liquid Death has surged in other areas as well.”
Riding the modest boom
Avery said Liquid Death has already begun expanding into sparkling water and iced tea, looking to capitalize on the surge in sober or “straight edge” consumers choosing to incorporate non-alcoholic beverages into their lives. .
“Liquid Death can, in many ways, be thought of as a non-alcoholic product, building on the 'sober curiosity' trend of consumers reducing their alcohol intake and seeking more alternatives. I think we can do it,” Avery said.
Dan Backstaff, chief marketing officer at market research group Spins, said Liquid Death's growing appeal means it's expanding beyond the water market into beer and new growth markets. He said this means the company is poised to take market share from both the non-alcoholic beverage market.
“These categories are being driven by overall consumer trends, and Liquid Death has further improved its packaging, differentiated between cans and plastic, and added marketing and positioning that hit that sweet spot,” Backstaff said. he said.
Cessario said the brand wants to respond to evolving consumer tastes that continue to move away from traditional drink options.
“We create healthy drinks that serve the party scene where there aren't many healthy options,” Cessario said.
This article originally appeared on NBCNews.com
