Aussie business Bae Juice takes its hangover cure to New York City
Bae Juice is on track to make $3 million this year, after seeing exponential growth in the 2023 financial year and is expected to double again in the financial year ahead.
Melbourne-based business Bae Juice is taking its hangover prevention drink all the way to New York City after reaching an agreement with US-based distributor Gold Coast Distributors that will see the brand expand internationally.
Created by co-founders Tim O’Sullivan, Liam Gostencnik, and Sumin Do, Bae Juice arrived on Aussie shores in 2019 and is the first 100% Korean pear juice to hit the Australian market.
For centuries the Korean pear has been used to help reduce hangover symptoms, making it a highly sought-after ingredient.
The deal will see Bae Juice stocked in stores across the New York area from August 2023. Similar to Australia, the drinks will also be available nationally via Amazon and distribution into further stores is expected to rapidly increase as the brand builds its footprint.
Bae Juice is on track to make $3 million this year, after seeing exponential growth in the 2023 financial year and is expected to double again in the financial year ahead.
Co-founder Tim O’Sullivan told SmartCompany it has been a rollercoaster, having bootstrapped the brand from Melbourne five years ago to securing its first seed investment of $500,000 at the end of 2022, and now landing a deal in the US.
“It’s extremely rewarding knowing we didn’t pull a wage from the business until January this year. That’s four years of working on the business for ‘free’”, he says.
“So we are very proud of the brand and the business and our team. The hangover prevention market in the US is really starting to pop off but there are no 100% natural products on the market. We feel we have a great entry to market and a huge point of difference to our competitors.”
Co-founder Liam Gostencnik said it’s been great to see the fruits of the team’s hard work rewarded.
“We are super confident with our strategy and team to head over to the states and build the business,” he said.
The announcement also comes off the back of a partnership with TakeFlight Ventures, via its International Brand Accelerator, as well as the strategic investment from Honan Capital, which will help establish the US footprint as well as further enhance the company’s Australian operations.
Locally, Bae Juice is already stocked in more than 3000 stores including Woolworths, Dan Murphys, BWS, and independents across the country.
O’Sullivan says he is incredibly proud of what the business has been able to achieve.
“We have bootstrapped this business for four years, [and] the investment from Honan Capital supports us to accelerate the next chapter in our journey. We couldn’t be more excited about what the next 12 months look like,” he said.
“We have some exciting potential deals being put together throughout Asia but the focus for the brand is to smash the US and start to launch some new products.”
A spokesperson for Gold Coast Distributors said the company is thrilled to announce its partnership with the team from Bae Juice as they launch into the New York market.
“As a distributor, we are always looking for high-quality and in-demand products to add to our portfolio, and Bae Juice certainly fits the bill,” they said.
“With their proven success and track record in Australia, we are confident that we can work together to make a big impact in the New York market. Bae Juice’s unique and differentiated product sets them apart from their competitors, and we are excited to help them reach new heights of success.”
Will Honan from Honan Capital, who has also joined the Bae Juice board, said the company is excited to be joining the Bae Juice team at this stage in its lifecycle.
“For us, the Bae Juice story represents the quintessential Australian startup: mates with a vision and the work ethic to make it a reality. We look forward to leveraging our networks and experience to build upon the already significant growth that Tim, Liam and Sumin have driven,” he said.
