Golden Coast Mead Summer 2014 Update
Transcript of Golden Coast Mead Summer 2014 Update
Golden Coast Mead
Summer 2014 Update
2005
Three Friends unlock the magic of
quality mead for the first time
January 2010
We decide that making mead is what we
want to do with the our lives
September 2010:
We lease space, equipment from
a local winery to get started
2010-2011
They teach us the science behind fermentation, we get lots and lots of production data
June 2011: Our first product is bottled!
• 3 months fermentation
• 3 months aging
• 12.5% alcohol
• Retails for $19.99
• We sell it mostly to our friends and family
2011-2012
We sell our mead to local bottle shops and restaurants.
It’s a cult hit. We’re not really making any money.
May 2012: Our community gives us $20,471
We are forever grateful. We can’t let them down.
Summer 2012: We outgrow our winery partner
We make mead in a bonded winery operating out of a farmhouse while we find a new home of our own
September 2012
Our new facility is legal but we have a lot of
work to do before we can produce there.
Spring 2013
Construction takes forever and is super aggravating
Summer 2013
The facility is up and running!
Maurey Fletcher joins the team as mead maker
September 2013: Bottle our first batches in our new facility
• 4-6 week fermentation
• Beer-style bottles
• California Oak
• Orange Blossom
2013: Raise $100,000 in royalty loans, pivot marketing
• Our mead is a member of the craft beverage community. Find us on the shelf next to premium beers.
• 6 Whole Foods carry all GCM products
October 2013
Front Page of Union Tribune Print Edition
March 2014
USA Today Profile
April 2014
Sales jump to consistently higher level.
We sell more in 6 months than 2.5 years prior.
May 2014: We sign a contract
with Statewide Beverage, a
Southern California distributor
Contractually-obligated quotas will increase our company’s sales 1100% by March 2016
2014
Over the next three years, we will expand distribution to cover both coasts
2015 2016
• Major Effort in Southern California
• 1 Additional Market (NYC/NJ Most Likely)
• Major Effort in Northern California
• 3 Additional Markets (PA, DE, DMV)
• Major Effort In Pacific Northwest, Colorado
• 3 Additional Markets (SC, NC, CT)
Major effort markets include a full-time territory sales manager Additional markets will rely on distributor sales personnel
We have a lot going for us
Locally-Produced Gourmet
Quickly growing $5B industry
1) American Mead Makers Association (AMMA) 2013 American Mead Maker
Mead
Mead sales increased 130% in 2013
68 American mead producers in 2009 to 194 in 2013
Gluten Free
$10.5B market expected to rise to $15.6B by 2016
Case Study: Mead is Analogous to US Cider Industry 2008
Reasons for Growth
• Consumer Tastes: Young consumers (21-29) are more adventurous and demanding of new flavors and experiences
• Health Concerns: Gluten free movement is gaining momentum
Market Reaction
• Anheuser-Busch InBev is launching a Stella Artois branded cider called “Cidre”
• C&C Group acquired Vermont Hard Cider ($305M 2012)
• MillerCoors acquired Crispin (2012 for undisclosed figure)
• Heineken acquired Strongbow (2012 for undisclosed figure)
Alternative beverages are no longer novelty items
and offer strong growth potentialConclusion:
Golden Coast Mead is more than its revenue.
Our fans are our family.
We’ve come a long way
It’s the most exciting time in our company’s history.
Will you be a part of it?