(Photos: SipMARGS)
On Tuesday, influencer Alix Earle became the latest in a long line of celebrities to invest in the booming ready-to-drink cocktail market. Earle has joined forces with a team of investors including Palm Tree Crew, the lifestyle brand founded by DJ Kygo and manager Myles Shear, to spearhead a $3 million investment into relaunching SipMARGS.
Originally founded in 2021, the brand sells pre-mixed sparkling margaritas in Classic, Mango, Coconut, Spicy and Mezcal varieties. All except the last are made using tequila blanco distilled in Jalisco, Mexico, and clock in at 5% ABV and 130 calories per can. The relaunch, as it's been referred to by the company, plans to lean into a star-studded roster of investors and partners to elevate the brand to the next level.
Earle was reportedly the largest single investor in the fundraising push. The social media star, best known as the host of the "Hot Mess" podcast and her ongoing "Get Ready With Me" series on TikTok, says the match made perfect sense.
“Being involved in the alcohol space is something that has always interested me, but it was all about finding the right fit,” Earle remarked in a news release. “I knew from the second I took a sip - pun intended - that I wanted to get involved. There may have been larger, more established companies looking to collaborate, but pushing myself to take risks and invest in a startup that I believe in felt like a great next step to accelerate me in my entrepreneurial efforts."
Though Earle's involvement will be spotlighted in a marketing push in months to come, she's far from the only investor joining the team. Behind the scenes, the list of strategic backers has turned into a powerhouse of its own. Investors include, among others, sports mogul Michael Rubin; Aoki Labs by Steve Aoki; former executive chairman of Founders Brewing John Green; and Anti Fund, boxer and influencer Jake Paul's venture capital firm.
Together, they foray into a fast-growing market stuffed to the brim with competitors.
Few trends have dominated the liquor landscape quite like canned pre-mixed cocktails these past few years. Inevitably, celebrity benefactors have had a large role to play. In the pre-mixed tequila cocktail space alone, we've seen new launches from the likes of Jennifer Lopez, Canelo Alvarez, Hailee Steinfeld and Blake Lively. Rapper and podcaster Lil Yachty became the latest contender in February when he launched Yacht Water alongside Quality Control Music founder Kevin “Coach K” Lee.
Time will tell if SipMARGS can stand out from the crowd.
“We’re excited to embark on this new chapter of SipMARGS at a time when tequila is becoming more popular in the ready-to-drink market and consumers are looking for more variety in their canned cocktails,” CEO Justin Nabozna added. “Alix has already been such a creative and hands-on brand partner and investor, we are so excited to be working with her on building the brand and business."
If you're interested in checking out the brand, SipMARGS are now available for pre-order here with shipping beginning on March 17.
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Together, they foray into a fast-growing market stuffed to the brim with competitors.
Few trends have dominated the liquor landscape quite like canned pre-mixed cocktails these past few years. Inevitably, celebrity benefactors have had a large role to play. In the pre-mixed tequila cocktail space alone, we've seen new launches from the likes of Jennifer Lopez, Canelo Alvarez, Hailee Steinfeld and Blake Lively. Rapper and podcaster Lil Yachty became the latest contender in February when he launched Yacht Water alongside Quality Control Music founder Kevin “Coach K” Lee.
Time will tell if SipMARGS can stand out from the crowd.