Despite nearly £14 million in losses, Trip has become the fastest-growing CBD drinks brand in the UK and is aggressively expanding into the US, supported by major investors and a manufacturing base, positioning itself for projected revenues of over £100 million by 2026.
CBD drinks brand Trip has made headlines recently for its ambitious global expansion strategy, albeit racking up significant losses of nearly £14 million. The burgeoning company, founded in 2019 by Olivia Ferdi and Dan Khoury, incurred £5.6 million in losses in the financial year ending 28 February 2024, continuing a trend from the previous year. While the unaudited accounts do not disclose specific revenues, Trip is rumoured to be on track for impressive sales, with expectations to exceed £60 million within the calendar year.
Despite these financial setbacks, Trip has not seen its growth stymied. According to reports, it has demonstrated remarkable progress, becoming the fastest-growing soft drink brand in the UK. NielsenIQ data shows that Trip's value sales surged by a staggering 522%, reaching £4.3 million over a one-year period. The brand now claims to dominate the UK CBD drinks market, allegedly holding an 88% share, although this figure is based on a subset of sales captured by NielsenIQ, which represents less than 20% of its total revenue.
Trip’s expansion into the US marketplace has been particularly noteworthy. As a component of its strategy, the brand has fortified its distribution channels and established itself with major US retail giants, including Target and Sprouts Farmers Market. With plans to further bolster its US presence, Trip is also working to expand into three additional national accounts by the first quarter of 2026. The integration of a manufacturing base in the US marks a significant step for the brand, allowing it to serve a rapidly growing customer base effectively.
In addition to its core revenue-generating operations, the brand has secured substantial investment, garnering over £25 million through various funding rounds. Noteworthy backers include Maria Raga, the former CEO of Depop, and Christian Angermayer, founder of Apeiron Investment Group. This financial support has been pivotal for Trip as it enables the company to solidify its infrastructure across the globe while continuing to innovate within the wellness sector.
With its UK operations turning a profit and the brand consistently topping lists of fastest-growing companies, Trip remains optimistic about its future. Managing Director James Edmunds emphasised the company's mission to help people find calm around the world, stating, “Since launch in 2019, we have invested to build a global brand.” The anticipated continuation of rapid growth aims to see revenue exceed £100 million by 2026, as Trip positions itself at the forefront of the booming CBD market.
As conversations about mental wellbeing evolve and the stigma around CBD diminishes, Trip appears poised not merely for survival but for a significant leadership role in an industry projected to reach new heights. The road ahead may be peppered with challenges, but with an engaged community and a strong market presence, Trip continues its journey towards becoming a household name.
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Source: Noah Wire Services
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
8
Notes:
The narrative presents recent financial data and expansion plans for Trip, indicating a high level of freshness. The earliest known publication date of similar content is March 2023, when Trip was reported as the fastest-growing soft drink brand in the UK. ([thegrocer.co.uk](https://www.thegrocer.co.uk/soft-drinks/cbd-brand-trip-becomes-fastest-growing-soft-drink-in-the-uk/677099.article?utm_source=openai)) The report includes updated figures and projections, suggesting it is not recycled content. However, the presence of earlier reports with similar themes indicates a moderate freshness score.
Quotes check
Score:
9
Notes:
The narrative includes a direct quote from Managing Director James Edmunds: 'Since launch in 2019, we have invested to build a global brand.' A search reveals that this exact quote was used in a report from August 2022, indicating potential reuse. ([foodnavigator.com](https://www.foodnavigator.com/Article/2022/08/26/cbd-brand-trip-expands-its-foothold-in-us-launches-gummies-with-12m-fundraise?utm_source=openai)) The repetition of this quote suggests that the content may not be entirely original.
Source reliability
Score:
7
Notes:
The narrative originates from The Grocer, a reputable UK-based publication known for its coverage of the food and beverage industry. This lends credibility to the report. However, the reliance on a single source for the majority of the information raises some concerns about the comprehensiveness and potential biases in the reporting.
Plausability check
Score:
8
Notes:
The claims about Trip's financial losses and expansion plans are plausible and align with known industry trends. The UK CBD beverage market has been experiencing significant growth, with projections indicating it could reach over £14 billion by 2026. ([prnewswire.com](https://www.prnewswire.com/news-releases/cbd-infused-beverages-market-is-expected-to-exceed-14-billion-by-end-of-2026-301332635.html?utm_source=openai)) The narrative's figures and projections are consistent with these trends, suggesting a high level of plausibility.
Overall assessment
Verdict (FAIL, OPEN, PASS): OPEN
Confidence (LOW, MEDIUM, HIGH): MEDIUM
Summary:
The narrative presents plausible and timely information about Trip's financial performance and expansion efforts. However, the reuse of a direct quote from August 2022 and reliance on a single source for the majority of the content raise concerns about originality and comprehensiveness. These factors contribute to a medium level of confidence in the overall assessment.
