Drizly backs underrepresented groups with $4m
Alcohol e-commerce platform Drizly is supporting underrepresented brand founders with its new Sip With Purpose initiative – including a US$4m investment.
The Sip With Purpose programme will support and drive growth of brands owned by members of historically underrepresented groups in the beverage alcohol sector.
The funding will go towards raising awareness of the brands, and launching the Drizly Brand Accelerator Program.
Furthermore, a centralised shopping hub will make it easier for consumers to shop AAPI-. Black-, Hispanic-, Latinx-, LGBTQIA-, Native American-, and women-owned brands on the platform.
Cory Rellas, Drizly CEO, said: “We have seen tremendous growth and demand for more diverse brands on Drizly over the last several years.
“The launch of our Sip With Purpose initiative is meant to further support and invest in these brands’ continued success.
“This programme utilises Drizly’s e-commerce expertise, industry relationships and consumer marketplace to bring greater awareness to these entrepreneurs and their incredible products.”
The Brand Accelerator Program will see three brands take part in the year-long programme. They will receive access to training, insights, mentorship, relationships, exposure and more to help drive equity within the beverage alcohol industry.
Applications for the scheme are now open. Training sessions will be led by an advisory council of industry partners and the Drizly leadership team. Participants will benefit from introductory meetings with leading retailers and distributors in target expansion markets, plus mentorship opportunities.
Furthermore, participants will receive free advertising across the Drizly platform over 12 months. They will also have access to Drizly’s data.
Global alcoholic beverage e-commerce is forecast to be worth US$30.5 billion by 2030, according to Insight Ace Analytic.