The sustained growth of the better-for-you beverage category has seen hard seltzer brand Gravity celebrate a successful start to the year, marked by several significant business milestones.
With health-conscious drinkers now making up 65 per cent of the legal drinking age population, a successful capital raise of $1m, supported by key industry partners, venue owners and strategic investors, will allow Gravity to drive growth through investment in innovative product development.
Additionally, Gravity announced the appointment of new Chief Executive Officer, Greg Mitchell, effective from 1 January. Bringing strategic leadership experience from his tenure at Coca-Cola Amatil and Carlton United Beverages, Mitchell sets out to expand Gravity’s market presence.
The appointment of Mitchell is further complemented by a new partnership between Gravity and premier advertising agency Joy, which will see Joy amplify the brand’s presence and national awareness as the official advertising partner, supported by its strategic investment in Gravity.
Mick Spencer, Co-Founder and Chairman of Gravity, says entering 2024 with this momentum is exhilarating.
“Our recent capital raise, the appointment of Greg Mitchell as CEO, and our collaboration with Joy showcase Gravity’s unwavering commitment to revolutionising the beverage industry. We’re poised to set new benchmarks and redefine the landscape of better-for-you beverages in Australia.”
Simon Rush, Principal at Joy, added: “The opportunity to invest alongside a brilliant bunch of people on a mission to change the way we drink was irresistible. Their joyous approach to the category aligned beautifully with our business. We couldn’t be more excited to see where this ride will take us.”
Looking to the year ahead, these strategic advancements support Gravity’s mission to provide consumers with innovative, sustainable and health-conscious beverage choices. As part of Gravity’s commitment to sustainability, the organisation has so far re-planted over 127,300 square metres of land through its partnership with Airseed.