Reed's, Inc. announced that annual revenues for 2012 increased 20 percent to more than $30 million.
Chris Reed, founder, chairman and CEO of Reed's Inc., said in a prepared statement, "Our Kombucha launch in 2012 continues to dominate our marketing efforts. It is not unusual for individual store sales of our Kombucha to exceed the sales of all our other products combined. We're working hard to expand these early successes to our full account base. Branded products continue fueling our expansion, growing at 20 percent for the fourth quarter and the early part of 2013. We expect full year 2013 to be just as strong, if not stronger for our core brands of Reed's Ginger Brews and Virgil's premium sodas. "
Reed continued, "Our private label business grew 23 percent for the year 2012. We have recently secured new private label contracts that will continue to fuel growth and drive incremental revenue for 2013. With the launch of new Reed's Culture Club Kombucha we have now diversified our business into three large revenue growth streams; Reed's Culture Club Kombucha, Reed's and Virgil's premium soda and private label. We are confident that our directional strategy will ensure that 2013 growth will outpace our performance in 2012."