New products beyond pure coconut water have also driven incremental sales, he said, highlighting the success of Harmless Harvest smoothies and coconut (non-dairy) yogurts, which combine coconut meat and coconut water, and launched in Whole Foods last year. Pic credit: Harmless Harvest ‘The velocities have been very strong…’ Good start for coconut non-dairy yogurts While the bulk of Harmless Harvest's sales come from its core coconut water portfolio, it has recently branched out into smoothies and non-dairy yogurts. We’re also growing our e-commerce business… we've seen significant acceleration we launched our own DTC site and we're on Amazon.” “There’s also room to grow distribution because we are still only just over 50% ACV in the MULO channel. When people try our products, they tend to repeat disproportionately higher than any other products. “We’ve also streamlined our business and gotten stronger from a supply chain standpoint, so we’re able to start investing more in marketing and promotions to raise awareness, as we have exceptionally strong repeat rates. So single serves were down for a while , but they've flipped back to growth as things have really opened up again. A lot of it is just simple blocking and tackling, getting the right pack size, selling multipacks.
“On the core business, there’s a lot of upside. In the immediate term, however, there’s still a “ huge amount of runway” to grow the Harmless Harvest brand in the US, where the company’s double-digit growth outpaces the competitive set in coconut water, with sales expected to surpass $100m this year, said Mand, who said this more than doubled 2017 sales. Picture credit: Harmless Harvest ‘On the core business, there’s a lot of upside…’ The brand – which sits in the refrigerated set, and says it does not really compete directly with shelf-stable products from brands such as Vita Coca and Zico - was founded by Justin Guilbert (who cut his CPG teeth at L’Oreal) and Douglas Riboud (a corporate finance expert Guilbert met at business school in France) in 2009. Pink-hued organic coconut water brand Harmless Harvest has carved a distinct niche in the category via its use of micro-filtration (instead of thermal pasteurization). We have been a support system and an advisor on supply chain, manufacturing, and innovation.” “ Over the last four years, especially since Ben joined the company in 2018, we have developed a true partnership to identify areas where we could create value together so one good example of that is the launch of the coconut yogurt, which is made in a Danone factory. “We haven't announced yet where we're going to launch first, but we’re looking at Asia, Europe and further expansion in North America.”ĭanone Manifesto Ventures (DMV) CEO Laurent Marcel added: “ In some cases, our investment agenda is to take a minority stake and to learn, and in other cases we invest in brands or categories or products that could fit very well one day in our portfolio, and Harmless Harvest is a perfect example of that .
Speaking to FoodNavigator-USA after DMV – Danone’s corporate venture arm – acquired a controlling stake in Harmless Harvest, Mand said: “Danone brings a ton of capabilities and resources, from expertise in packaging and processing to infrastructure that we can potentially leverage, so we have been actively looking at expanding internationally. Emulsifiers, stabilizers, hydrocolloids.Chocolate and confectionery ingredients.Carbohydrates and fibers (sugar, starches).
Plant-based, alt proteins, precision fermentation.
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