World of Zing shows its commitment to bottled cocktail sector
World of Zing has anounced plans to rebrand its drinks division to Spirit of Zing, following its successful crowdfunding campaign, which saw it surpass its £150,000 target.
The company - which launched its barrel-aged cocktails into retail at the end of 2014, operating from a market stall and e-commerce website - turned to Crowdcube recently in order to finance future growth. It set a target of £150,000, designed to generate revenues of £2.5m in three years, but the target was surpassed with the campaign eventually reaching £185,000 in exchange for 18% equity.
World of Zing plans to use the funds to move to a new production facility, increase NPD, redevelop packaging design and formats and also to rebrand the drinks division to Spirit of Zing, to create a separation from World of Zing, which will remain the food division of the business. Export opportunities will also be explored as well as trade marketing activity.
The company now operates from an innovation hub in East London, which includes a dedicated Molecular Mixology Lab and a Cocktail Ageing Room. Cocktails are crafted in small batches using premium spirits, bespoke bitters and liqueurs, and the company’s bottled cocktail programme is aimed at giving consumers the opportunity to enjoy a cocktail in the comfort of their own home.
Cocktails include Bordeaux Cask Aged Negroni (with Tanqueray Gin): Blackberry & Tamarind Punch (With Pink Pigeon Rum); and Persian Lime & Nori Margarita (with Ocho Tequila).
Founder, Pritesh Moody, said: “After spending over 10 years providing marketing and trends advice to drinks brands, World of Zing provides the platform to capitalise on the immense experience, insight and contacts I have accrued in the industry.
“It has been an incredibly rapid journey since launch and the amount of interest in World of Zing has been truly humbling, whether it’s from the media or our burgeoning list of customers or the fact that we have the support of a team of hugely experienced Non-Executive Directors. Securing this investment has ensured that we have the resources in place to convert our strong brand recognition into the sales revenue and hopefully make a positive impact in the food and drink industry.”
The company has also recently appointed Nicola Swift as its product developer. Swift formerly worked at M&S as its product developer within the retailer's meat category.