Bev, Female-First Beverage Brand, Announces Investment Led by Erin and Sara Foster, Rich Paul, Simon Tikhman, Keith Sheldon, and Chief Zaruk
Capital Infusion Will Escalate Product Offerings and Further Cultivate a Community of Women
LOS ANGELES, Jan. 28, 2020 /PRNewswire/ -- Bev, the leading wine brand on a mission to transform the largely male-dominated beverage industry, announced today an investment 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. This is the sisters' first official partnership investment with a brand.
Within these creative and investor roles, the sisters will work directly with Bev Founder and CEO Alix Peabody on creative ideation, business and product development, and will be instrumental in helping launch Bev's forthcoming 'Made By Chicks' media platform and accompanying podcast, slated to be released in March 2020.
"We're partnering with Bev because we're comfortable buying the product ourselves and telling our friends to buy it," shared Sara Foster. "Our community trusts us to be authentic to ourselves and our brand, and we strive to do that. Bev's female-oriented mission and movement align with our personal interests. We're very inclusive, rather than alienating, and we're thrilled to be a part of 'Made By Chicks.'"
Alix Peabody went on to share, "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."
With the growing global beverage market expected to reach an estimated $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. "Legacy brands tend to sexualize alcohol consumption, and objectify women on TV, billboards, and in print," said Peabody. "That's what we're changing. We want women to know that drinking can be fun, inclusive, and safe. Women can be their authentic selves when they drink a Bev."
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. Through this programming, Bev will address and shed light on entrepreneurial-centric topics ranging from "asking for a raise" to "pregnancy as part of life and career" and more.
"When I first met Alix and her team, I immediately gravitated to her incredible founder story, ambition to challenge the alcohol industry's outdated status quo, and sheer tenacity to spark a movement through an empowering brand like Bev," shared Simon Tikhman, the CEO and co-founder of The Core Entertainment, a partner of Live Nation, and new Bev brand investor. "I also knew by partnering with Bev that I wanted to assemble an unrivaled strategic group with expertise and business acumen in diverse sectors. Erin and Sara Foster, Rich Paul, Keith Sheldon, and Chief Zaruk bring so much to the table."
"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."
About Bev
Founded by Alix Peabody in May 2017, Bev is a beverage company out of Venice, California. Backed by the Female Founders Fund, The Chainsmokers, and The Foster Sisters, Bev is breaking the glass by challenging male-dominated industries and building a more inclusive, respectful drinking culture. Bev wants to create a mission-driven community that encourages everyone to experience fun on their own terms. Their first product is the refreshingly crisp and dry, canned California rosé wine made with the highest quality grapes from the central coast of California. This proprietary blend has bright aromatics of strawberry, raspberry, and white peach. Made specifically for a can, every can of Bev has 11.9% ABV, 0 grams of sugar, and 3 grams of carbs. Bev is currently available in California, Nashville, and Texas as well as available online nationwide. For more information about Bev, please visit drinkbev.com.
SOURCE Bev
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