Upper Street Marketing's new subsidiary Ennoble Beverages has secured exclusive sales and distribution rights to the fast-growing Frank's RedHot Beverage portfolio.
Securing exclusive rights to this portfolio, which currently includes progressive adult beverages Frank's RedHot Bloody Mary and Frank's RedHot Caesar, is only the latest in Ennoble's move toward aggressively growing its business through a plan that combines the proven with bold new solutions.
Leveraging proven adult beverage gurus, Upper Street has tapped the talent that led Mike's Hard Lemonade to the $600M revenue-generator it is today.
This team includes former chief financial officer (CFO) of Mike's Hard Lemonade US, Feza Sanigok, now serving as CEO and interim chief financial officer, as well as former brand executive, Chris Pfeifer, who has taken on the roles of chief operating officer (COO) and chief marketing officer (CMO) at Upper Street.
Aside from a deep understanding of progressive beverages, Sanigok and Pfeifer bring with them the proven promotional strategies that put Mike's on the map and fueled its unstoppable journey.
In an industry where distribution often determines success, Upper Street leaders are already in the process of developing a national distribution network, Pfeifer refers to as "invaluable". He said: "only a handful of those exist right now, belonging almost exclusively to large public companies."
Frank's RedHot Beverages, which boasted $1m in first-year sales (primarily test marketing), is a perfect example of what may be Ennoble's most important success differential: a focus on underdeveloped, high-growth-potential market segments and on expanding locally successful brands into national-scale names.
This sets it apart from publicly traded financial giants, such as InBev, MillerCoors, Constellation Brands and Boston Beer Company, who, at this stage of the game, consist primarily of declining brands.
