Hangovers are bad. Special so for those who felt pressured to drink the alcohol that inevitably caused the hangover.
Drinking is slowly going out of fashion, especially among younger generations. According to the 2022 Gallup poll, 60% of adult Americans drink alcohol. This is down from 65% in 2019, and while 5% doesn’t seem like a big change, it’s a pretty drastic shift when it comes to consumer spending.
Founders are taking full advantage of the shift, as countless startups have sprung up in recent years looking for low- and no-alcohol options. Aplós is the last to raise funding.
The Miami-based startup this week announced a $5.5 million Series A round led by Midwestern private equity firm McCarthy Capital. Co-founder and CEO David Fudge told JS+ that he wanted to launch the company because he always considered himself a “reluctant drinker” but didn’t think there was a product out there that would fill what he was looking for: something that gave the same relaxing benefits and vibes of alcohol, but without regrets the next day.
“The vision is to reinvent the adult beverage category for the new era, to create the first super premium non-alcoholic spirits brand,” said Fudge. “We want the sophistication, complexity, versatility and functionality of a high-end spirit. That is something that we did not see in the market and that we were very interested in ourselves.”
As a consumer i Love that there are entrepreneurs who want to innovate in this category as well as introduce new options. Non-alcoholic spirits brands like Aplós feel like a win-win because not only does it encourage people more to perhaps choose a healthier, lower-calorie option than alcohol, but it gives bars and restaurants a better way to offer similar non-alcoholic drinks . alcoholic cocktails to their customers and can they price the same. Capitalism!
But while I think there are social benefits to the growth of this sector, it’s not clear how this will work out for investors.