Group Project - Institutions and Global Strategy

**Background -- Remedy** Remedy Drinks, a priavtely held, locally owned Australian company specializes in manufacturing and distributing health beverages (IBISWorld - Industry Market Research, Reports, and Statistics, n.d.). Founded in 2012 by Sarah and Emmet Condon, the brand originated in the cou...

**Background -- Remedy** Remedy Drinks, a priavtely held, locally owned Australian company specializes in manufacturing and distributing health beverages (IBISWorld - Industry Market Research, Reports, and Statistics, n.d.). Founded in 2012 by Sarah and Emmet Condon, the brand originated in the couples kitchen when the discovered a gap in the market for fermented health drinks. To capture the market, the founders acknowledged the need of developing a high-quality product and implementing effective marketing strategies. This vision led to the launch of Remedy´s organic and sugar-free kombucha, whereby the brands maintained commitment to using only natural ingredients, with no artifical additives or sugars has et it apart from other brands in the industry (Magazine, 2022). Since the product establsihment, the brand has expanded a growing range of products such as Remedy Kombucha, Remedy Sodaly, Remedy KICK, Remedy Shots and Remedy Swicthel ACV (Remedy, n.d.). By 2017, the product was accessible in 8 000 stores across Australia, a number rapidly increased to 20 000 stores by 2019, solidifying its position as the leading kombucha brand in Australia. (Austrade, n.d.). The company´s global journey began with exports of its products to New zealand and has since extended to over 20 countries worldwide including the UK, Canada, Singapore and the United States. To support the exapnsion of global operations the company has invested in building a state-of-art fermentary, located in Dandenong south, Melbourne (Austrade, n.d.). As Remedy continued its expansion intp the Asian and Middle Eastern market between 2020 and 2023 the identified the need to modify their product to ensure compliace with the strict standards of theses markets. Resultantly, Remedy eliminated all alcohol traces from its kombucha in order to comply with the Middle Eastern cultural norms, demontrsrating a commitment to market adaptation and flexibility in meeting the expectations and norms of diverse customer segments. Today, Remedy as a bevergae brand within the health drink sector generates millions of dollars in revenues and has ambitious goals to become the world´s third largest kombucha brand, driven by continued investment in the global health beverage market (Haslett, 2018). **Sources:** *IBISWorld - Industry Market Research, Reports, and Statistics*. (n.d.). https://www.ibisworld.com/au/company/remedy-drinks-pty-ltd/461825/ Haslett, S. (2018, July 8). Couple behind Remedy kombucha brand reveal how they created a multi-million-dollar business. *Mail Online*. https://www.dailymail.co.uk/femail/article-5919869/Couple-Remedy-kombucha-brand-reveal-created-multi-million-dollar-business.html Magazine, C. (2022, October 4). Shaking Things Up: Chris Gillard. *The CEO Magazine*. https://www.theceomagazine.com/executive-interviews/food-beverage/chris-gillard/ *Remedy Drinks brews export success \| Austrade*. (n.d.). https://www.austrade.gov.au/en/news-and-analysis/news/remedy-drinks-brews-export-success Remedy Drinks. (n.d.). *Our Story*. https://www.remedydrinks.com/pages/about-us - Sarah and Emmet Condon founded Remedy from their kitchen counter in 2012. - the supermarket was full of drinks that were either straight-up-unhealthy, fake-healthy, or legit-healthy but not-so-tasty. They looked around and thought, "There's a Remedy for that"! **Original Operation:** **Operation in Other Countries:** - The company's kombucha is available in 20 countries and counting. - Remedy started exporting in 2017, starting with New Zealand. The UK was next in 2018. Canada, Singapore and the US followed in 2019.   - Remedy's success in these countries was rapid. Remedy is now the No. 1 kombucha brand in the UK, New Zealand and Singapore. It is growing market share in Canada and the US.  - - In 2020, the company entered Hong Kong, the Philippines, Malaysia and Vietnam. It launched its kombucha in China, Indonesia and the Middle East in 2023. Remedy removed all traces of alcohol from its kombucha to accommodate the cultural requirements of the Middle East.  - Unlike competitors, Remedy's kombucha can be stored in or out of the fridge. This is a major competitive advantage. 'Consumers can find us at the fridge and at secondary locations like supermarket shelves,' says Hodgson.  - Remedy is continuing to invest in the kombucha category overseas, with an ambition to become the third largest kombucha brand globally.    - These days, Remedy has a multi-million-dollar turnover, Emmet and Sarah\'s team produce more than 10 million litres of kombucha a year and celebrities across the globe enjoy the drink. - - When [Remedy Drinks](https://www.remedydrinks.com/au) began brewing kombucha in a small facility in Melbourne 10 years ago, there was barely a market for the fermented health drink. Remedy's founders knew they would have to help build it up with a high-quality product and captivating marketing. - While Remedy works on carving out a bigger space in the Australian and New Zealand markets, it is also expanding its international footprint. The company already has a firm foothold in the US, Canada, the UK, Singapore and Hong Kong and is now building on that. - Remedy Drinks might have started in the founders' kitchen in 2012 with its first Kombucha blend, but has since expanded rapidly to become the global producer of 'better for you' drinks supplying a range of cafes, supermarkets, and independent grocers. - Now, 90% of all products are made, packed, and shipped from one large fermentary in Dandenong South in Victoria. Nick Marshall, Remedy Drinks' Chief Financial Officer, says as the world wants healthier, fermented drinks with less sugar, orders are increasing. As a result, Remedy Drinks' supply chain and footprint are expanding. - "We've only been exporting for four years and are capitalising on that momentum." - Remedy Drinks Pty Ltd is a locally owned private company that derives its revenue from the manufacture and distribution of health drinks. The company employs approximately 150 employees, operates in Australia, and is administered by its head office in Carrum Downs, Victoria.