Founder and CEO Zak Normandin said the money will go towards launching new beverage brands developed internally at Iris Nova, as well as investing in beverages created by other companies, which will then distributed via the Iris Nova platform. “This is the way for us to compete with the bigger beverage companies,” Normandin said.
Although Normandin brought up The Coca-Cola Company several times as a point of comparison (“I think that if Coke were to start today, it would do things exactly the way we are”), he also emphasized that he isn’t trying to turn Iris Nova itself into a consumer brand.
He isn’t sure what the internal-external mix will be, but he said the company has already made two external investments, while also having few beverage brands of its own ready to go, including the Tres Limón line of nonalcholic aperitifs. “What we think is that billion-dollar brands will not exist in the future,” he said. “I have no specific loyalty to Dirty Lemon as a brand.
Normandin said that by linking the investment and the platform partnership, Iris Nova is forcing itself to be “highly selective” about which beverages will be part of the portfolio.
There will be advantages for consumers who order across the Iris Nova portfolio — namely, they won’t have to reenter their payment and shipping information — but Normandin said, “I don’t think there will ever be an Iris Nova marketplace.
Either way, they’ll get access to the Iris Nova platform, which allows them to accept orders via text message, and to distribute their beverages next-day or same-day to every major U. S. market.