Started five years ago by David Freeman, H2Coco was one of the first brands to introduced coconut water to the Australian and New Zealand markets. The company is also backed by Kyle Sandilands, who is understood to hold around a 25 per cent stake in the business.
H2Coco has three beverage products, H2Coco Pure, H2Coco pineapple, and H2Coco Pomegranate and Acai, which are all available in 330ml and 1 litre, and it also produces H2Coco Organic Virgin Coconut Oil.
The move to launch into new categories follows the release of H2Coco’s latest product, Cocoespresso, that combines its coconut water formula with a full shot of espresso.
Freeman told Inside FMCG the local coconut water category is now past its fad stage in Australia, adding H2Coco will be soon be “growing into more than just coconut water” with Cocoespresso an example of how it’s looking to think outside the coconut water space.
“We were looking at how we could grow the coconut water category, so we looked at the next biggest categories. Energy is the largest beverage category, and then the next to follow is either flavoured milk or coffee flavoured drinks,” Freeman said.
“There is currently no coffee flavoured drink of the market, that is available at the major retailers, that is dairy free, lactose free, and that has a long shelf as well. At the same time Cocoexpresso still holds the benefits of what coconut water does,” he said.
Freeman told Inside FMCG H2Coco is planning to launch several other products within the next six months.
“H2Coco started off as a coconut water company but we will be growing into more than just coconut water. Our whole vision is a healthier fridge and pantry in every household and in saying that we want to be able to have a H2Coco product is several different grocery store aisles.”
Cocoespresso is available in Caltex, Chemist Warehouse, BP, and United Petroleum and will be the major supermarket, including Coles and Woolworths, from July.