The Creation of Innocent Smoothies
Innocent Smoothies is now a well-known household brand. There are a range of flavours to suit all needs, but just how did the founders get started? How did it become the national brand it is today? Here’s a brief look into the creation of Innocent Smoothies.
It All Started With University Graduates
Like many companies, this one started out with a simple idea from three Cambridge University friends. Richard Reed, Jon Wright and Adam Balon spent months working on various recipes for smoothies, selling them from a stall at a London music festival. It would be one of their work collaborations that would change their lives.
Rather than just jumping into the brand, the trio wanted to hear the thoughts of others. They asked for the empty bottles to go in one of two bins: either the “yes” bin or the “no” bin. The question? Should the trio quit their jobs in advertising and consulting and start making smoothies full time.
There were just three bottles in the “no” bin.
Taking the Leap
The very next day, the trio took the advice from the public. They went into their jobs and resigned. But it wasn’t plain sailing from there. They needed to find an investor for their new venture. It was by luck that Maurice Pinto agreed to take on the trio’s brand, investing a quarter of a million.
15 months later Innocent Smoothies was on the market.
The 3 Founders of Innocent Smooties.
The 2008 Financial Crisis
Like many other businesses, Innocent Smoothies was hit by the financial crisis in 2008. As sales dropped, the company looked at business partnerships. One of those was to sell some of its stake to The Coco-Cola Company. 18 percent was sold off, meaning the trio still had a majority hold.
That was until the next year, when The Coca-Cola Company bought an extra 40 percent. By February 2013, Coca-Cola gained more, increasing its share to 90 percent.
The company has gone through various changes, but it all started from a simple idea and three men willing to quit their jobs and follow the advice of the public. They took full advantage of their business opportunities available.
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