Meet Mike Reopole - The Beverage Billionaire

GM! It's Tuesday, April 11th - Today, we're diving into the story of a beverage industry legend who built and sold 2 companies for over $4 Billion+ each. Plus, we'll explore the ongoing feud between Substack and Twitter that has been making headlines in the tech world.

- Callum

FEATURE

Meet Mike Reopole - The Beverage Billionaire

At 54, Mike Repole is a semi-retired multi-billionaire that enjoys a family-oriented lifestyle and a passion for equestrianism, owning over 200 thoroughbred racehorses.

He got here by building 2 nationally recognized beverage brands and selling them both for billions.

Here’s his playbook…

Who Is Mike Repole?

Chapter 1: Vitaminwater - After climbing the corporate ladder of water company Crystal Geyser, Repole stepped away from his ordinary white-collar job and founded his own company in 1999– Glacéau vitaminwater.

Repole created Vitaminwater to be a healthy alternative that filled the gap between soft drinks and water. In doing so, he ended up creating an entirely new beverage category known as “enhanced water.”

By creating his own niche, Repole’s Vitaminwater had no competitors and experienced exponential growth:

• 2001: $1M in sales

• 2001: $3M in sales

• 2003: $9M in sales

• By 2007: $350M in sales

In 2007, Coca-Cola acquired Vitaminwater for $4.1B!

Chapter 2: Bodyarmour - In 2011, Repole created the sports drink Bodyarmor which, unlike Vitaminwater, didn’t create its own category but revolutionized a category long dominated by Coca-Cola’s Gatorade and Pepsi’s Powerade.

However, Repole noticed that sports drink brands were stagnant, and consumers rightly regarded the beverages as unhealthy and loaded with artificial sweeteners and sodium. Bodyarmor introduced a healthy alternative made with coconut water, vitamins, potassium, and no artificial food dye.

Bodyarmor was the first of hundreds of brands to successfully compete against Gatorade and Powerade - quickly scaling to $1.4B in revenue.

In 2018, Coca-Cola paid $300M for 15% of his beverage company, Bodyarmor, and bought the remaining 85% in 2021 for $5.6B.

His Secret? – Brand Equity

While other entrepreneurs bring innovative and category-changing products to market, Repole drove success through marketing campaigns and partnerships with well-known actors, musicians, and athletes.

Glacéau’s Smartwater and Vitaminwater

• Jennifer Anniston became the face of Glacéau’s SmartWater after starring in comedic advertisements for the brand.

• Rapper 50 Cent became a key brand ambassador for Vitaminwater and promoted the brand across commercials and songs for a 10% stake in the company.

Bodyarmor

• Kobe Bryant paid $6M in 2013 and agreed to be one of the faces of Bodyarmor for a 10% stake in the company.

• Bodyarmor also gave equity to Japanese tennis player Naomi Osaka and American basketball player James Harden.

The Playbook

1. Identify Untapped Or Underserved Markets: In both his previous ventures, Repole identified opportunities in beverage markets that were not being fully met. He recognized the potential for enhanced vitamin-infused water with Vitaminwater and the need for a healthier sports drink with BODYARMOR.

2. Create Differentiated Products: Repole's companies differentiated themselves from established brands through innovative formulations and strategic branding. Vitaminwater offered a unique, vitamin-infused water that stood out from traditional sports drinks, while BODYARMOR provided a healthier, more natural alternative to Gatorade.

3. Develop Effective Marketing Campaigns: Repole was known for his unconventional and highly effective marketing tactics. He leveraged social media and grassroots marketing to reach his target audiences and build brand loyalty.

4. Form High-Impact Strategic Partnerships: Both Vitaminwater and BODYARMOR partnered with high-profile athletes and celebrities to help promote their products and reach new audiences. This strategy created breakout brands that borrowed brand equity and legitimacy from well-known actors and athletes.

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ON TREND

The Substack VS Twitter Fued

You Should Know

A conflict between Substack and Twitter has emerged, with Substack CEO Chris Best calling the situation "very frustrating" following Twitter's suppression of Substack links and Elon Musk's claims about the company. Both CEOs have publicly addressed the issue.

Key Takeaways

• Substack announces a new feature called Notes, similar to Twitter

• Twitter suppresses links to Substack, displays error messages and warnings

• Substack users report issues embedding tweets into blog posts

• Chris Best expresses disappointment in Twitter's changes

• Journalist Matt Taibbi leaves Twitter for Substack Notes

• Musk claims Substack tried to download Twitter's database, but provides no evidence

• Best denies Musk's claims and defends Substack's use of Twitter's API

• Best emphasizes the impact on writers, and calls the situation "very frustrating”.