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Naked Life Spirits eyes growth with equity raise

(Source: Supplied)

Non-alcoholic cocktail brand Naked Life Spirits has launched an equity crowdfunding raise with Birchal to scale the business and grow its grocery channel.

Founder and CEO of Naked Life, David Andrew, said the brand is looking to “capitalise” its leading position in the Australian market.

“Our customers love Naked Life because the cocktails taste like the real deal. We’ve benchmarked them against practically everything in the world and nothing comes close.”

According to ISWR data, the global No or Low Alcohol (Nolo) market is valued at $14.7 billion with about 71 per cent of Australian consumers increasing their non-alcoholic intake in recent years.

“Our company wants to give every Australian a better option than lemon lime and bitters when they’re out drinking with their mates, and the money raised will help widen our reach so more people can live a healthier life without feeling left out,” said Andrew.

Investors will become part owners in the Naked Life beverage range of sugar-free sodas, iced teas and functional drinks as well as The No Nasties Project includes cereals, cookies, spreads and sugar-free icy poles.

Since 2016, the business has expanded to 15 products, stocked across Coles and Woolworths stores nationally and has achieved revenue of $13 million during the past three years.

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