Founders, Sam & Haydn, are one of the first to pursue the Australian Non-Alc RTD market!
In September 2022, creator of non-alcoholic RTDs and brewery, Monday Distillery, successfully closed their equity crowdfunding raise by reaching $1,000,000+ within 3 weeks of launching to the public.
The funds from this equity crowdfund will help Monday Distillery to focus on new product development, growing online channel and expansion through new distribution networks and international growth.
Who is Monday Distillery?
“Non-alcoholic. Sugar-free. Forever Tasteful.”
The Monday Distillery range prides itself on being a premium, alcohol-free, sugar-free RTD. Taking inspiration from classic cocktails, the non-alcoholic spirits created by Monday offer an overall sensory experience to mimic that of its alcohol-containing counterpart. The mouth-feel of each variant is carefully considered. Monday uses the highest quality ingredients derived from steam distilled plant extraction. This process delivers an intense flavour experience from botanicals, fruits, herbs and barks compounds.
By revolutionising the way people look at a night out with friends, Monday delivers for people taking a break from alcohol or those going through periods such as “Dry July” need, a refreshing carbonated drink, with premium flavours that everyone wants to try. A few RTDs from their core range include gin (Classic G&T, Exotic Spice G&T), rum (Dark & Stormy), whiskey (Dram & Dry), tequila (Paloma) and aperitif (Aperitz Spritz).
In FY22, Monday generated revenue of $1.7m (growing at 90% CAGR over the last 3 years), forecasted to hit $10m in FY24. Founder Sam is now joined by her husband, Haydn Farley. Together, they run the Monday distillery and distribute through 800 major retailers across Australia, including Dan Murphy’s, On the Run, Coles Local, Sans Drinks and many more independents.
1. Exceptional traction and growth across all channels
Since inception, Monday has achieved 90% CAGR, forecasted to hit revenue of $5.5m in FY23 and is set to reach $10m by FY24 and $20.7m by FY25. This multi-channel, above-market growth can be attributed to their strong customer loyalty and success in winning key distribution channels.
2. Boom in the NoLo alcohol category (growing at +14% CAGR to 2025)
The NoLo category is seeing a huge increase in demand from non-drinkers as well as traditional drinkers opting for NoLo alternatives on select occasions, accompanied by an overall shift to healthier lifestyles and moderation. The RTD/Spirits category is growing at 14% p.a. to 2025 (versus alcoholic beverages at 0.7%). Australia is one of the fastest growing markets globally, as the NoLo movement complements the health-orientated lifestyle of many Australians, and provides more occasions to enjoy NoLo beverages.
3. A premium offering in line with the premiumisation of the drink market
During COVID-19 lockdowns, consumers shifted to appreciate at-home indulgences, through the purchase of premium drinks. Monday captures this trend, taking inspiration from classic cocktails to carefully select unique flavour profiles. By taking locally-sourced springwater, distilled botanicals bring out their flavour-filled essence with every sip.
4. Loyal communities around both brands
Monday has built a loyal community of over 15,000 social media followers across Instagram and Facebook, all brought together by the love of premium non-alcoholic drinks.
5. Embarking on a step change in growth
Monday is actively distributing through 1,500 major grocery stores and retailers such as Dan Murphys, OTR, Coles local (also including 7-Eleven & Harris Farm who are onboarding). They are already looking to close deals with other major retailers in the coming months. They are raising funds to service these opportunities.
6. Attractive market for investment
Given the high growth in this market, the NoLo space has seen lots of investment from PE and VC firms, with brands such as Lyre’s raising hundreds of millions of dollars from global VCs and venture arms of the drinks giants. The NoLo industry has also seen some early exits, including the sale of Seedlip to Diageo and Keurig Dr Pepper acquiring Atypique.
Key Takeaways from Raise
Leveraging engagement across all of the founders’ businesses
The founders, Sam & Haydn, saw the importance of leveraging all networks in order to pursue a successful raise. As both Lunae Sparkling and Monday Distillery cater to a similar, ‘non-alc loving’ customer base, this allowed for greater reach and targeted audience when converting customers into investors!