Pricklee
Overview
Pricklee is an innovative beverage brand specializing in cactus water, co-founded by Kun Yang and Mohammed Hassoun, both accomplished pharmacists with over a decade in the healthcare field. The company was conceived to introduce a more nutritious alternative to high-calorie, sugary drinks prevalent in the market. Inspired by the traditional Lebanese practice of consuming prickly pear cactus water, Pricklee embodies a commitment to health-conscious and sustainable hydration solutions. Headquartered in Rutherford, New Jersey, Pricklee has garnered attention for its unique product offerings and eco-friendly mission.
Recent Developments
- September 2024: Pricklee expanded its market presence significantly by participating in PepsiCo's Greenhouse Accelerator Program as one of the select finalists focusing on innovative products that reflect Hispanic cultural flavors. The program provides mentorship and funding opportunities to bolster Pricklee's market expansion (source).
- 2023: Pricklee witnessed a substantial increase in its distribution footprint, successfully entering Sprouts Farmers Market in over 23 states across the United States. This move remarkably increased their retail presence and customer reach (source).
- May 2023: The company, fresh off its exposure from Shark Tank, leveraged this platform to accelerate growth, focusing on their core message of offering a healthier beverage alternative emphasizing sustainability and reduced sugar (source).
- November 2022: Engaged in a substantial rebrand, Pricklee improved its product packaging and brand messaging to better highlight its sustainability efforts and natural hydrating benefits over traditional coconut water (source).
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2021 |
| Headquarters | Rutherford, New Jersey, United States |
| Founders | Kun Yang, Mohammed Hassoun |
| Revenue | Estimated $1.5 million in 2023 |
| Key Investors | PepsiCo Greenhouse Accelerator Program |
| Industry | Non-alcoholic Beverages |
| Number of Employees | Information not publicly disclosed |
Early History
Pricklee was founded in 2021 by Kun Yang and Mohammed Hassoun, along with three other partners during their tenure as pharmacists. The concept stemmed from Mohammed’s childhood experiences in Lebanon, where his grandmother would prepare prickly pear drinks. Recognizing a gap in the market for healthy, flavorful hydration alternatives, the founders left their healthcare careers to create Pricklee. They aimed to challenge conventional coconut water products by offering a beverage with fewer calories and sugars, while leveraging the ecological benefits of the drought-resistant prickly pear cactus (source).
Company Profile and Achievements
Pricklee operates primarily within the non-alcoholic beverage industry, presenting a product lineup that includes unique flavors such as Tropical Mango + Ginger, Prickly Pear, and Wild Strawberry + Hibiscus. Each beverage variety capitalizes on the health benefits inherent to the prickly pear cactus, namely antioxidants, electrolytes, and vitamin C. Key achievements in Pricklee's journey include:
- Shark Tank Participation: Pricklee gained national exposure by appearing on the popular entrepreneurial show, 'Shark Tank', which led to a deal with Barbara Corcoran for a $200,000 line of credit in exchange for equity.
- Strategic Rebranding and Messaging: In an ambitious effort to capitalize on the growing demand for functional beverages, Pricklee revamped its branding. The new designs emphasize vibrant and welcoming visuals, steering away from earlier designs that drew close comparisons to coconut water products.
- Sustainable Production Practices: The brand uses eco-friendly packaging and sustainable sourcing methods reflecting its commitment to environmental responsibility. Pricklee positions itself as a leading advocate for eco-conscious food and beverage consumption (source).
Current Operations and Market Position
Pricklee continues to build its market position as a major contender in the growing plant-based hydration sector. By actively participating in accelerator programs like PepsiCo’s, the brand receives valuable mentorship and networking opportunities to refine its business strategies. Pricklee's products emphasize a low-calorie, low-sugar profile, resonating well with health-conscious demographics seeking anointative alternatives to traditional beverages. The company also cultivates community engagement through live events and strategic partnerships, helping to solidify its reputation as a consumer-friendly and environmentally focused brand (source).
Conclusion
Pricklee represents a pivotal shift within the functional beverage industry, combining health benefits and sustainability in a growing market niche. The company's focus on natural ingredients, coupled with strategic rebranding and partnerships, positions it well for future growth. With its continued expansion in retail locations and participation in programs aimed at elevating diverse, sustainable products, Pricklee is likely to further cement its status as a key player in alternative hydration solutions.