Taste Radio Insider

Ep: 40: Fancy a Conversation About Innovative Concepts?

On the heels of the 2019 Summer Fancy Food Show, this week's episode explores new and innovative concepts in the food and beverage industries as viewed through the lens of the annual trade show. As part of our conversation, BevNET's John Craven, Mike Schneider, Jon Landis and Ray Latif discussed the event's "Incubator Village," which showcased a number of food and beverage incubators from across the U.S., including Chobani's unit, The Hatchery and Commonwealth Kitchen, along with several of their respective portfolio brands. Later in the episode, we feature an interview with Smári Ásmundsson, the founder and CEO of Smári Organics, a maker of Icelandic-style skyr. Earlier this year, the company introduced Kaffi, an innovative line of cold brew coffee blended with Smari's protein-rich yogurt that is being positioned as a better-for-you energy drink. Ásmundsson spoke about how he assessed the opportunity to launch a beverage, the most challenging aspects in managing food and drink lines simultaneously and the unconventional path its coffee products have taken to profitability. Show notes: 1:21: Important Changes to Your Account, Incubator Villages, and More -- We kick off the episode with an important note to our audience: going forward we'll be posting new episodes of Taste Radio Insider on the same feed as our flagship Taste Radio podcast. The Taste Radio Insider feed will be phased out next month, so if you're not already a subscriber of Taste Radio on your listening platform of choice, whether it be Apple Podcasts [https://podcasts.apple.com/us/podcast/taste-radio/id1109466665], Stitcher [https://www.stitcher.com/podcast/taste-radio] or Spotify [https://open.spotify.com/show/1UZRDrusWv8hPKuNgVAz0Q], make sure you get on that.  Later in the show, the hosts discuss highlights and notable brands from an eventful 2019 Summer Fancy Food Show, as well as Jon Landis' upcoming move to San Diego, why you'll save money -- and get an amazing view -- by registering for [https://www.bevnet.com/events/] BevNET Live and NOSH Live today, and a couple recent visits from the folks behind nitro coffee brand King's Row Coffee, and jun kombucha maker Wild Tonic. 17:56: Smári Ásmundsson, Founder/CEO, Smári Organics -- Ásmundsson sat down with Taste Radio editor/producer Ray Latif for a conversation about the yogurt brand's foray into beverages and how he's navigated production and distribution challenges along the way. He also explained why the coffee drinks are made with non-organic ingredients, the process of selling food and beverage lines to a single retail chain, and how the influence of Nordic culture on the brand. Brands in this episode: Smari Organics [https://smariorganics.com/], MudLrk [https://mudlrk.com/], Lil Bucks [https://www.lovelilbucks.com/], Blake's Seed Based [https://www.blakesseedbased.com/], Seedly [http://www.eatseedly.com], Simply Soupreme [https://www.simplysoupreme.com/], Jersey Barnfire [https://www.jerseybarnfire.com/], Straightaway Cocktails [https://www.straightawaycocktails.com/], Fire Brew [https://drinkfirebrew.com/], Superfrau [https://www.drinksuperfrau.com/], A Boring Life [https://aboringlife.com/], Rind Snacks [https://www.rindsnacks.com/], Honey Mama's [http://www.honeymamas.com/], UBU [https://drinkubu.com], King's Row Coffee [https://kingsrowcoffee.com/], Wild Tonic [https://www.wildtonic.com/], Steaz [https://steaz.com/], Belgian Boys [https://belgianboys.com/]

Ep. 39: The Art and Science of Getting Investors to Say 'Yes'

In this episode, we're joined by Sebastian Dreher, the managing director of Dohler Ventures U.S., the Los Angeles-based venture capital arm of Dohler, a global supplier of natural ingredients for the food and beverage industry. Dohler Ventures is specifically focused on investment in early-stage companies and its portfolio includes stakes in a number of fast-growing consumer brands. As part of our conversation, Dreher discussed Dohler Ventures' funding philosophy and why he believes that investing in emerging brands is more "art than science." "There is so much risk involved in every single deal that I need to have the feeling that this company has the potential to… have a $100 million exit," he said. "It's a lot of gut feel, [but] you can argue that gut feel is actually a lot of internalized pattern recognition and learnings over time." Dreher also spoke about how he evaluates scalable innovation, why category dynamics are crucial to Dohler's investment strategy, and why great founders are also great fundraisers. Show notes: 1:48: Wilde On B -- Post-BevNET events, the hosts chewed on chicken in chip form (thank you Wilde Brands), sipped on sparkling rooibos tea, snacked on salmon jerky and chastised Jon Landis for his beverage hoarding. Of course, CBD is also the mix. 10:43: Sebastian Dreher, Managing Director, Döhler Ventures U.S. -- In an interview recorded BevNET Live Summer 2019, Dreher spoke with Taste Radio editor/producer Ray Latif about the mission and focus of Dohler Ventures and how his passion for innovation has helped shape his role with the venture capital firm. He also explained why a brand's potential to create a new category is a key component of Dohler's funding philosophy, the average size of an investment and the number of investments that Dohler Ventures makes in a calendar year, and his view that "Investors don't invest in products, but in businesses, businesses that get acquired." Later he discussed his expectations for ROI, red flags that preclude him from investing in a brand, and how he manages relationships with entrepreneurs and other investors. Brands in this episode: Wilde Brands [https://www.wildebrands.com/], BOS Tea [https://www.bosbrands.com/en/], Fishpeople [https://fishpeopleseafood.com/], Minna [https://www.drinkminna.com/], Upwell [https://www.upwellbev.com/]

Ep. 38: How To Create a Foundation for Breakout Success

This episode features an interview with Sisun Lee, the co-founder and CEO of More Labs, a next-generation maker of functional beverages best known for hangover relief supplement Morning Recovery. Launched in 2017 via an Indiegogo campaign, the brand was an instant hit; Morning Recovery pulled in $3 million in revenue in its first six months on the market. Early success powered an $8 million Series A round -- based on a $33 million valuation -- in 2018 and new distribution at retailers like 7-Eleven and Urban Outfitters. In an interview with BevNET's John Craven and Mike Schneider, Lee discussed the factors and strategic decisions that led to Morning Recovery's rapid development, and how More Labs is attempting to create a platform for functional products. Show notes: 1:16: Live from Live -- On location in New York City, the hosts discussed highlights from day one of BevNET Live Summer 2019 and the preceding NOSH Live conference, including the New Beverage Showdown along with presentations and stage talks with vitaminwater/BodyArmor co-founder Mike Repole, Presence Marketing founder Bill Weiland, Caluipower founder/CEO Gail Becker and Whole Foods Market co-founder Walter Robb. 13:17: Interview: Sisun Lee, Co-Founder/CEO, More Labs -- In an interview recorded at More Labs headquarters, Lee spoke about how his background in tech and the influence of Korean culture played into the creation of Morning Recovery. He also discussed how a popular funding campaign on Indiegogo and a widely read article about the brand catapulted sales just a few months after its initial launch. Later, Lee spoke about the value of qualitative data and intuition as the company grew, how it sources consumer feedback and incorporates into its innovation strategy and why high-quality, minimalist content attracts more interest than communicating the science behind product. Brands in this episode: Vitaminwater [https://www.vitaminwater.com/], BodyArmor [https://www.drinkbodyarmor.com/], Caulipower [https://eatcaulipower.com/], Beckon Ice Cream [https://beckonicecream.com/], More Labs [https://www.morelabs.com/]

Ep. 37: The 'Most Vital Tool' For Brand-Building… And How To Use It

Before teaRIOT established a multi-channel retail footprint that stretches across the U.S., and before its acceptance into the Chobani Incubator [https://www.bevnet.com/news/2018/teariot-join-chobanis-incubator-class] program, and before its recent $3 million Series A funding round [https://www.bevnet.com/news/2019/teariot-closes-on-3-million-series-a-to-launch-nationwide], co-founders Laura and Steve Jakobsen were simply focused on building a brand. "What does [teaRIOT] look like?," Laura asked in an interview included in this episode. "How does it stand out on shelf? What are our consumers saying? How do we need to change it from the inside of the bottle to the outside of the bottle? We just stayed nimble for two years and made changes in our foundation to really tighten everything up." Throughout the process, teaRIOT, a brand of organic tea-based energy drinks, leaned heavily on social media to better understand its consumers and how they interacted with the brand and its products. "[We] not only use social media to publish outward but also to listen and to interact and engage. We always focus on what consumers are doing with our product. If you look at our [Instagram content], it really portrays the vitality of the brand. But in some pictures we don't even have the product. It's really about how people are living, being energized on tea." That approach has been particularly effective on Instagram, where teaRIOT has gained over 121,000 followers since its launch in 2015. As part of our interview, Laura and Steve expounded upon their approach to brand building and shared their perspective on the keys to a successful social marketing strategy. They also discussed their experience in the Chobani Incubator and lessons from the program, and explained why teaRIOT's investors must also be consumers of the brand. Show notes: 1:16: Cassava… On The Cusp -- Just a few days away from NOSH and BevNET Live Summer 2019, the hosts reflected on the New Beverage Showdown 17 competition, munched on cassava-based snacks, sipped on a few innovative new beverages and shared a few recommendations for eating and drinking in New York City. 16:35: Interview: Laura and Steve Jakobsen, Co-Founders, teaRIOT -- In an interview at teaRIOT headquarters in Venice, Calif., BevNET's Mike Schneider spoke with Laura and Steve and engaged in a deep dive into teaRIOT's branding, marketing and social media strategies. As part of our conversation, Laura explained her perspective that "influencers are kind of dead" and why brands should focus on aligning with "real, authentic people in your community." They also discussed why it's important to partner with investors whose lifestyles fit with that of the brand, and how their experience in the Chobani Incubator helped reinvigorate their passion for entrepreneurship and the brand.

Ep. 36: The Sudden Plan to Revolutionize a $40 Billion Category

In this week's episode of Taste Radio Insider, we're joined by Josh Zloof, the co-founder and CEO of Sudden Coffee, an innovative brand of specialty instant coffee. Founded in 2015, Sudden is attempting to revolutionize the $40 billion market for instant coffee by emphasizing its proprietary production process and by focusing on "scalable hospitality." As part of our conversation, Zloof spoke about Sudden's mission of using an instant product to democratize access to speciality coffee and why it was designed to be "Grandma proof." He also explained how the company has zeroed in on Gen X as its key consumer demographic, discussed the challenges of managing both manufacturing -- Sudden operates its own production facility -- and marketing as a small company, and why he believes that the product attributes of Sudden are more important that the brand itself. Show notes: 1:42: A Few Sips of "Mud Water," Canned Wine and Candy Milk — You know it's a special episode of Taste Radio Insider when the host gulp Snickers-flavored chocolate milk and wash it down with chai and wine. There's also discussion about people stealing John Craven's Instagram photos, the emergence of the canned wine segment, how Abbot Kinney Blvd. in Venice, Calif. is the epicenter of food and beverage innovation, and why it's a no-brainer for entrepreneurs seeking investment to attend BevNET Live and/or NOSH Live. 13:40: Interview: Josh Zloof, Co-Founder/CEO, Sudden Coffee -- Zloof was visiting from San Francisco to attend the 2019 Specialty Coffee Expo and stopped by BevNET HQ to record an interview with Taste Radio editor/producer Ray Latif.  Zloof spoke about the origins of the company and how prior jobs in supply chain logistics and hospitality fueled his interest in coffee. He also discussed how speciality coffee roasters including Intelligentsia have supported its development and reshaped its business model, how Sudden is attempting to create experiential moments for its customers, and why the long-term vision is about "branding the process." Brands in this episode: Snickers [http://marschocolate.com/snickers], Twix [https://twix.com/], MUD/WTR [https://mudwtr.com/], Cha Cha Matcha [https://chachamatcha.com/], Four Sigmatic [https://us.foursigmatic.com/], Besa Mi Vino [https://drinkbesa.com/], Lila Wines [http://www.lilawines.com/], Oskar Blues [https://www.oskarblues.com/], Sudden Coffee [https://www.suddencoffee.com/], Taster's Choice [https://www.nescafe.com/us/en-us/our-coffees], Folgers [https://www.folgerscoffee.com/], Intelligentsia [https://www.intelligentsiacoffee.com/],  Starbucks [https://www.starbucks.com/], Equator Coffee [https://www.equatorcoffees.com/], Ritual Coffee [https://www.ritualroasters.com/], Spark Coffee, Keurig [https://www.keurig.com/], Dunkin' [https://www.dunkindonuts.com/]