Lyre's Spirit Co

About

Lyre’s makes non‑alcoholic spirits and ready‑to‑drink cocktails replicating classic spirits, sold via retail, on‑trade, DTC and travel channels, with manufacturing and R&D in the UK, Germany, Australia and US.

Mission

Lyre’s is a premium non-alcoholic spirits company founded in Australia in 2019 that produces alcohol-free spirit alternatives. The brand has won awards at spirits competitions in London, San Diego, and San Francisco. It recently completed a nearly £18 million ($34 million) funding round to bolster its supply chain and global inventory. The company plans to use the proceeds to boost production and inventory stocks to meet growing demand for non-alcoholic drinks. The raise coincided with the appointment of Paul Gloster as CEO as Lyre’s expands its leadership structure. Over the last four years the company has topped up funding with $16 million and $9 million and was valued at $500 million in 2021. Lyre’s also donates 100% of sales from its Pink London Spirit gin alternative to the McGrath Foundation. Lyre’s produces a portfolio of 14 premium non-alcoholic spirits and a recently launched range of ready-to-drink non-alcoholic cocktails designed to replicate popular alcoholic spirits and cocktails. The range claims to be capable of crafting 90% of the world’s best-selling cocktails and is positioned as a true-to-taste swap for alcoholic ingredients. The company sells in more than 60 countries across retail, on-trade, direct-to-consumer and travel channels, and has production in the UK, Germany, Australia and the US. Lyre’s has established an R&D division in partnership with beverage technology firm Döhler to develop a new product pipeline. The business is on course to be annualising £50 million in revenues by December of this year and has manufactured over one million bottles to date. Future plans highlighted include expanding marketing, significantly growing headcount, and co-investing with manufacturing partners to scale production capacity. Lyre’s produces a portfolio of 13 non‑alcoholic spirits formulated to replicate classic spirit flavors, and is positioned as the most awarded brand in the non‑alcoholic spirits category. Since launching in July 2019 the company has expanded into over 30 markets worldwide, selling both on‑ and off‑premise and via direct‑to‑consumer channels. Lyre’s focused on DTC during the pandemic and achieved more than 400% monthly recurring revenue growth since January 2020. The company plans continued portfolio growth, product innovation (including a Ready‑To‑Drink range), and accelerated market expansion. Management says manufacturing in multiple global locations, compliance for new markets, and expanded recruitment are priorities to evolve from a start‑up to a multinational beverage company. The brand emphasizes matching alcohol spirit flavors and styles to offer sober alternatives across demographics.

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