Login

Only yesterday, I was picking up a few things in my local supermarket when the Innocent Drinks display in the fridge caught my eye, a shining example of how a start-up can not only survive in this ‘giants of the supermarket age’, but prosper.

Well, according to reports this weekend, the company is looking for a minority investor to fund further expansion. Innocent is hoping to raise £25-35m, and if successful, will use the money to fund expansion in Europe. At this time, there is no talk of an outright exit for the founders. An Innocent spokesperson said "The founders of the business will continue to control and lead the business."

With ‘luxury’ goods the most likely products to suffer in the downturn, times are tough, and investment is needed to fund such a venture. According to a report in Marketing Week, sales almost halved between June and September this year. While Innocent was selling £27m three years ago and a massive £113m last year, both they and rival brands such as PJ Smoothies are now feeling the pinch, according to the FT, who report Innocent is spending more on advertising, launching cheaper-version products and hiring less new staff than they had forecasted.