Vithit, the Dublin-made vitamin drink, is looking at a revenue gain of approximately €40 million this year, according to the Irish Times.
In an interview, Gary Lavin, co-founder of Vitz Drinks Limited, said that the company’s success was driven by a huge demand in the UK amid the swap to healthier drinks.
This year the company plans to sell 20 million units, with the UK expecting a 38% growth in the market share.
Functional Beverage
According to the Irish Times, Vithit is the second best-selling health drink in the UK in the “functional beverage” category, falling behind Coca-Cola’s Glacéau Vitamin Water brand.
Its sales jumped by 64% in the UK market last year, with some of the more popular retailing names selling the health drink.
Lavin said that he believes the drink came into the market at an opportune time, with people making the conscious decision to move away from sugar.
“When I was creating Vithit, I sought to add in as much goodness and as little sugar as possible and to make it so that people could make an easy switch,” Lavin told the Irish Times.
“I’m no genius. It is just that I always knew sugar was bad for people and, from day one, wanted a product that looked and tasted so great that it could compete with the well-known sugary brands out there.”
Last year, Vithit signed a multi-million distribution deal with Honickman Group, a US distribution company, and Lavin has revealed plans of moving to the southern hemisphere to keep the brand selling for the full 12 months, making up for the winter dip in its European markets.
© 2018 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click subscribe to sign up for the Checkout print edition.
