Investment cements TRIP in the US and positions husband-and-wife founded brand as wellbeing industry disruptors following +500% revenue growth
NEW YORK, Aug. 22, 2022 /PRNewswire/ -- UK's leading CBD brand, TRIP, announced a $12 million investment supported by prominent entrepreneurs, business leaders and investors, including Maria Raga, the former CEO of Depop, and Christian Angermayer, founder of Apeiron Investment Group. This latest round of funding will support the brand's continued growth in the United States and across the globe.
Known in the UK as the "Queen's CBD," having received the royal seal of approval by selling out of the Queen's Windsor shop, TRIP was founded by husband-and-wife team Daniel Khoury and Olivia Ferdi after meeting at Cambridge University. The duo launched TRIP after a transformational personal experience with CBD when it helped Daniel recover from an accident that required knee surgery just before their wedding. Amazed by CBD's benefits, the two left their careers in law and finance to launch TRIP together and designed an award-winning range of drinks, oils and gummies to help people find calm.
Since the company's launch in 2019, it has rapidly attracted a highly engaged online community – with 94% of customers recommending the brand to friends and family – signaling its domination of the CBD space in the UK with 88% market share and distribution in over 11,000 retail locations. TRIP has been a viral sensation, drawing in millions of fans and attracting the most organic search traffic of any CBD Drinks brand globally (source: SEMRUSH). The viral nature of the brand's popularity quickly became evident in search engines where it outpaced travel companies as the number one ranked search result for the word "TRIP" across Europe. With a dedicated community of consumers who know and love the brand, TRIP sets its sights on the global wellbeing landscape, expanding its retail footprint through strategic partnerships in the United States as Soho House & Co.'s exclusive global CBD supplier and in Los Angeles-based retailer Erewhon.
"TRIP is a Soho House favourite," said Soho House & Co. Drinking Director Tom Kerr. "After assessing CBD brands globally we knew TRIP was the perfect partner brand for Soho House. Since launch, they've been a huge hit in our houses around the world."
The CBD wellbeing category is continuing its steady upward trajectory, already measured in excess of $12.8 billion. This forecasts the potential growth for TRIP, which is quickly becoming a global leader in the space on its mission to bring premium quality CBD and plant-powered wellbeing into the mainstream through major retailers and partners. This raise will continue to drive the growth of the thriving TRIP community and deepen US distribution. The brand has found success with a broad customer base, given the prevalence of daily stress, crediting its authentically functional ingredients and flavor-led products in driving impressive returning customer rates.
TRIP Co-Founder Olivia Ferdi attributes this growth to the seismic shift seen in conversations regarding mental health and wellbeing across the globe, stating, "Over the last few years the world's attitude towards the importance of mental health has changed dramatically. Since discovering the power of CBD through an incredible personal experience, our mission has always been to share calm in the everyday chaos, with next-generation wellbeing products to power your lifestyle and help care for your mental health. Helping to open up conversations around stress and anxiety, we're excited to create a community across the globe, harnessing the power of plants to find their calm."
Amidst a growing global mental health crisis, Olivia and Daniel are dedicated to building a brand that helps people worldwide. TRIP has introduced millions of people to their first CBD experience and today represents a new, functional consumer category that did not exist previously, supporting everyday health, well-being and stress relief.
TRIP was founded in 2018 by Olivia Ferdi and Dan Khoury, creating a CBD brand that appealed to modern consumers, championing great tasting flavor and aesthetically pleasing packaging. TRIP uses only the most premium CBD, which is THC-free and third-party lab tested to ensure the highest quality and purity. Their calming canned drinks with a super-chic, pastel aesthetic, TRIP offers four Great Taste Award-winning drinks including Elderflower Mint, Peach Ginger, Lemon Basil and CBD-infused Cold Brew. TRIP offers two of the best-tasting CBD oils - Wild Mint and Orange Blossom blended with Chamomile.