Earlier this year, Food & Drink Business profiled the alcohol brand, Solbevi, as its Rising Star. Its indefatigable founder, Stefan Di Benedetto, set the goal of Solbevi Limoncello being behind every bar side-by-side with Campari and Aperol, and launching Australia’s first Limoncello Spritz ready-to-drink (RTD). But with many triumphs have come desperate lows. As Solbevi turns one, we caught up with Stefan to reflect on the ride so far.
As with many food and beverage start-ups, Stefan Di Benedetto’s tinkering with his family’s limoncello recipe began as a side hustle to the career he was forging at one of the country’s largest construction companies.
But time spent travelling the country to grow a new consultancy business was enough to plant the seed of developing his own beverage company.
An early rebrand, taking some big risks (signing up for a 20,000 can/5000 litre first run), and a hefty serve of passion and persistence resulted in being ranged in nine Dan Murphy’s stores.
From there, in the first five months, Di Benedetto sold just over 25,000 cans of Limoncello Spritz and 2500 bottles of Limoncello. Using lemons rejected by retailers, each batch is tested for consistency of flavour and quality, while reducing food waste.
Combined, the two products are now stocked in more than 550 venues across the country and available in Dan Murphy’s and Vintage Cellars.
More recently, Di Benedetto says he’s realised a dream in partnering with Qantas.
“I am addicted to the whole Qantas brand. It’s the only airline I fly, the frequent flyer program, that it’s our national carrier, and everything about the business. I am very attached to it. My close friends tease me about it all the time.
“So of course, I imagined walking onto a plane and seeing it being served. It was an absolute dream, and I had a five-year timeframe on it. And here we are, within a year, and it has happened,” Di Benedetto says.
“It’s probably been the most rewarding moment in the business for me.”
And the latest recognition has been US Spirits Ratings awarding Solbevi the Best Liqueur in the World. US Spirits Ratings said what set Solbevi Limoncello apart was its versatility and modern appeal.
“Unlike traditional limoncellos, often relegated to after-dinner shots, Solbevi is crafted for a broader range of uses, from refreshing Limoncello Spritz to zesty Limoncello Margaritas.
“The brand has consciously lowered its alcohol by volume (ABV) to provide a smoother finish, increased the zestiness of the lemons for a standout flavour in cocktails, and reduced the sugar content in response to growing health consciousness among consumers,” it says.
Di Benedetto says, "We wanted to create a market-leading lemon-flavored liqueur that could sit on the back bar next to Aperol and Campari in every venue around the world. There is no one similar product that directly competes with these two brands, yet a limoncello holds similar characteristics to these two products.
“This inspiration led to the creation of Solbevi, a brand with a clear vision for the next five years: to establish itself as a staple in bars worldwide, ultimately evolving to be known simply as Solbevi, shedding the ‘limoncello’ label altogether.”
While Di Benedetto is also pursuing overseas markets, he is grappling with the most challenging reality of a start-up – capital.
“It is very tough at the moment. We’ve been capital raising for seven months and a very promising negotiation over six months that fell over at the finishing line. That left us in a really bad situation financially. I’m constantly trying to raise cash in the background and I’m losing sleep over it.
Di Benedetto is working nights in construction to keep additional funds flowing.
“We’ve won liqueur of the year, we’re on Qantas, we have comprehensive distribution, and overwhelming love for the products. We’re having all the success, but we can’t do anymore or continue growing without more capital behind us.
“I’m told by a lot of people that they would love to fund us but can’t at the moment because of the difficult financial environment,” he says.
But for Di Benedetto, there is no walking away. His belief in Solbevi and its success to date tells him to hold the course, even if the road to become a global brand is bruising.
