Non-alcoholic ‘spirit’ brand Lyre’s reported a 300% sales increase in January 2022, boosted by its gin and whiskey alternatives.
Lyre’s, which offers a portfolio of 16 alcohol-free ‘spirits’, saw its sales rise three-fold in January when compared to the same month in 2021.
The brand said its sales were led by Dry London Spirit, a gin alternative, and American Malt, which replicates the taste of Bourbon. Furthermore, the company noted ‘record levels’ of growth for its canned ready-to-drink range.
Lyre’s is the ‘official spirit’ of Alcohol Change UK’s month-long alcohol-free initiative, Dry January. The producer said the three-year strategic partnership with Alcohol Change has helped to increase the presence of the brand, with Lyre’s launching in 700 bars and restaurants across the UK in January 2022 alone.
“January was a blockbuster month and a great opportunity to attract thousands more people wanting to drink less or no alcohol, without compromising on taste or experience,” said Mark Livings, Lyre’s co-founder and CEO.
“Importantly, Lyre’s continues to outpace the growth of the no/low category generally, winning market share and entering new markets virtually uncontested.
“We remain in hyper-growth, with revenues building at over 300% per annum, and we think we’re still only seeing the early potential of the mindful drinking movement, with mainstream adoption to come.”
The brand is now available in 60 markets, including its recent entry into South Africa and the Middle East. The company is due to launch in Japan later this year.
Among its 2021 achievements are four new e-commerce stores, 30 retail listings, and the launch of five RTDs and three non-alcoholic ‘spirits’.
Lyre’s has also raised £25 million (US$33.6m) in two funding rounds, resulting in a company valuation of £270m (US$363m) in November 2021.
The company is set to become the fastest independent beverage brand to reach unicorn status – a valuation of more than US$1 billion.
Lyre’s has also expanded its team with new roles in sales and marketing, e-commerce and logistics. The firm’s headcount reached more than 100 by the end of 2021 with plans to double that number by the end of this year.
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Author: Nicola Carruthers