Buy Curious? –
June 8, 2019 – Their sales of alcoholic beverages have been declining, big alcohol companies, ranging from Heineken to AB InBev (the owner of popular beer brands such as Budweiser), see an opportunity: They’re investing in non-, or low-alcohol drinks. So too, startup investors and entrepreneurs are hoping to cater to the “sober curious,” people who for the sake of wellness are reevaluating their relationships with alcohol and how often they drink. The emergence of sober bars is one of the signals that investor Anu Duggal points to when talking about the trend of not drinking. Duggal, who is based in New York City, said that like Kan, she is noticing “a number of people who are choosing not to drink.” Duggal’s firm, Female Founders Fund — which has backed popular consumer startups such as Rent The Runway — is a recent investor in Kin Euphorics. Kin’s first product is a non-alcoholic beverage called “High Rhode.” It is part adaptogen (a nontoxic plant that is claimed to have de-stressing effects), part nootropics (a supplement said to help with cognitive functions), and part botanics. On its website, the company notes that its statements have not been evaluated by the Food and Drug Administration and that its product is not intended to diagnose, prevent, treat, or cure any disease.