Madonna, Demi Moore invest in coconut water
February 1, 2010
by Eric Schroeder
NEW YORK — Vita Coco, a maker of coconut water, has added singers Madonna and Anthony Kiedis and actors Matthew McConaughey and Demi Moore as investors, a move the company’s top executive believes has the brand poised for major growth in 2010.
“This group of investors chose to invest because they’ve all been brand loyalists, drink Vita Coco regularly and believe in the growth potential of the Vita Coco brand,” said Michael Kirban, co-founder and chief executive officer of Vita Coco. “Each of these investors not only validates the Vita Coco brand, but the category of natural functional beverages as well.”
Vita Coco, sold at more than 14,000 retailers across the nation, is expected to be available for sale in more than 1,300 GNC stores beginning early this month.
“GNC’s motto is ‘Live Well,’ and as the leading vitamin, supplement and sports nutrition chain, I can’t think of a finer retail partner as the Vita Coco brand grows nationally,” Mr. Kirban said. “GNC’s product education programs will ensure that new consumers learn about the healthful benefits of Vita Coco.”