Logan Paul and KSI's Prime Hydration poised to become beverage industry's next $1 billion brand - Jefferies
Jefferies analyst Kevin Grundy believes Prime Hydration, the energy drink company promoted by YouTubers Logan Paul and KSI, could become the US Beverage Industry's next $1 billion brand.
Grundy said in a note Tuesday that the "army of loyal social media followers" have helped the company disrupt the US sports drink industry.
"Our analysis, product life cycle comparison, and store checks support our view the brand will reach >10% run-rate mkt share in sports drinks by Dec. and <15% annualized by '27," the analyst wrote.
"Led by Congo Brands and social media influencers Logan Paul/KSI, and positioned as a health & wellness offering, Prime Hydration has quickly become a majorly disruptive brand in the US beverages industry."
The analyst notes that while there remains a wide range of trajectories for Prime's growth given its blistering start, they believe it is very plausible the brand approaches $800M in US retail sales in 2023 as distribution ramps."
By Sam Boughedda