Naked Life Non-Alcoholic Spirits will give Australian investors an opportunity to own a slice of the brand in an equity raise managed by Birchal. The company has grown from $400,000 to almost $13 million in revenue in just three years and now outsells its nearest competitor by three times.
The idea for Naked Life was born from an experiment in David Andrew’s kitchen. In 2016 the former business analyst decided to give up sugar as part of a health kick. As David started to reduce his alcohol intake, he realised there were no low calorie options in the cocktail space, and created his own range of sugar free soft-drinks and cocktails, which launched with wide success in 2020.
“I started Naked Life to overhaul my own life and we will now capitalise on our positioning and take on the world so our impact on people’s health can be even greater.
“In 2020 Naked Life was riding Australia’s post-lockdown sobriety wave. Woolworths trialled us with four cocktails in five stores initially. Four weeks later that grew to 50 stores, which quickly grew to 800 stores within six months. We now have 15 products across Coles and Woolworths stores around Australia and have grown from $400K to almost $13 million in revenue in just 3 years.
“The Global NoLO market is valued at $14.7 billion, and we are striking now with this capital raise so we can build on our success and scale quickly. We’d be nothing without our customers, which is why we want them to share in our success. When you consider 71 per cent of Aussies are now increasing their non-alcoholic intake, an investment in Naked Life is a no brainer,” said Andrew.
Naked Life is also stocked in over 300 bars and restaurants, and has signed multiyear deals for the cocktails to be served at major sporting events and live stadium tours.
As well as the cocktail range, investors will also become part owners in the Naked Life beverage range of sugar-free soda’s, iced teas and functional drinks, as well as the reduced sugar family range of products, The No Nasties Project. These include cereal, cookies, spreads, and natural icy poles, SugarFreezies.
Andrew says the money raised from investors will go towards accelerating the company’s grocery channel growth and replicating this success in other channels and countries.
“Our company wants to give every Australian a better option than lemon lime and bitters when they’re out drinking with their mates, and the money raised will help widen our reach so more people can live a healthier life without feeling left out,” said Andrew.
