Smoothie moves
- It’s no ice, no added sugar, and no limits for this startup. Consumers are seeking healthier options, and 500-backed being juice is ready to serve.
- “With the pandemic behind us and with the rise of modern lifestyles, consumers are a lot more mindful about what they’re putting into their bodies,” shared Founder Sayantan (Say) Das.
- For Say, the opportunity lies in three things: a ready market, product innovation and localization, and a strong brand experience.
- “We live by three basic principles, and that’s to hit the right notes when it comes to quality, service, and speed,” he added.
- To set themselves apart, being juice ditches crushed ice and slushies, opting for richer, creamier beverages with no ice and no added sugar.
- Since launching less than a year ago, the startup has 8 outlets, including one in Manila. The rest are around Greater Kuala Lumpur, with one in Kedah, a northern state in Malaysia — a rather unconventional spot.
- “We wanted to see how consumers reacted to this product in, let’s say tier two or tier three cities. We know that juices and smoothies are very urban-centric products, but at some point in time, we would need to scale outwards, so we wanted to get those learnings early on,” he explained.
- The team is already looking at RM1 million in annual revenue this year and aims to 5x revenue from last year, with plans to launch 10-15 new stores in Malaysia and 3-5 in the Philippines.
- More than half of their current stores are EBITDA profitable. Say revealed that they were able to achieve this by selecting strategic locations and keeping operations lean.
- In the next 3-5 years, he envisions hundreds of being juice outlets across Southeast Asia, with Indonesia and Thailand launches in Q3 or Q4 this year. The team is also exploring instant smoothie mixes and ready-to-eat meals.
- For their Series A, being juice is aiming to raise US$5M-$7M to fuel their expansion.
- Listen to the full interview on BFM.
Other stories from 500-backed companies you may have missed:
- WORQ’s inclusive policies and supportive communities help PWDs redefine their careers
- Carsome and Petronas AutoExpert team up to deliver expert care and hassle-free maintenance to car owners in Malaysia
- Chickin secures ~US$15M loan to help poultry farmers scale and provide affordable high-quality food for more people
- Grab and BYD team up to introduce up to 50,000 EVs across SEA, bringing green transportation to more driver-partners & passengers
