The Vita Coco Company is celebrating a decade of success, but it was also struck by a disaster that could have changed the trajectory of the company. In its early days, the company was faced with a tough decision. Its co-founder and executive chairman, Michael Kirban, reveals his critical moment – the decision to battle with Zico coconut water, and how it turned Vita Coco into a leader in the coconut water market. The Coca-Cola Company threatened to halt the business’s momentum when it purchased a 20% stake in Zico in 2009, with a full acquisition in 2013; Zico was determined to compete with Vita Coco. The co-founders weighed the decision – should they find their big-money partner or stand against the giant on their own? They chose the latter. The decision proved successful, with Vita Coco commanding nearly 50% of the U.S. coconut water market and maintaining a $1.6 billion market cap. Zico, on the other hand, struggled to differentiate itself and was reacquired by its founder in 2021. It was learning to create your own luck, believing in your endeavors, and focusing on achieving success that made a significant difference for them. The game-plan that took them to the forefront of their category is proof that seemingly impossible goals can be achieved, and through determination, they decided to give it their all. The company found solutions when they unexpectedly partnered with celebrities such as Madonna, Guy Oseary, Matthew McConaughey, Demi Moore, Anthony Kiedis, and Puff Daddy and later on with North America’s third-largest beverage group. All of these partnerships helped find solutions that contributed to the company’s growth. “Vita Coco” was able to maneuver past its challenges and maintain its dominant position. They kept on fighting, growing distribution, and expanding their consumer base and continuously shifted their focus onto achieving their goals. Finally, Michael Kirban states that he wouldn’t have changed a thing and continues to find game-changers and next big pillars of growth for their business.
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