There are many companies and co-operations that are now dominating the present world. Anything that you can think of has been ventured into and dominated. The transport industry, energy industry, agriculture industry, and many others have a certain group of executives calling all the shots.
The beverage industry is also very wide, with many companies venturing into specific products. An example of such companies is the Coca-Cola Company, which has dominated the soda industry. Big names such as Heineken and Budweiser have dominated the beer industry. On the other hand, the energy drink industry has been dominated, Red Bull.
Red Bull is an energy drink sold by Red Bull GmbH, an Austrian company created in 1987. Red Bull is a big company with the highest market share of any energy drink in the world. Their numbers are simply incredible; for example, the company sells 6.79 billion cans in a year.
The company is extremely successful, and the company is known well for not having many flavors. The amber energy drink has had a consistent flavor that is loved by so many people. The founder of the franchise was extremely successful because of the fact that he targeted the western market.
As the founder had aimed, the drink grew to be extremely popular with the westerners. However, the company did face some issues here and there, especially with the health concerns. A lot of questions were raised concerning the health effects of the energy drink, but despite all of that, the company has still blossomed.
Inception
The company was created in 1987, and the selling company is known as Red Bull GmbH. The idea of the acclaimed energy drink was of an Austrian entrepreneur, Dietrich Mateschitz. He got this idea after drinking a local energy drink, Krating Daeng, which was sold in Thailand by Chaleo Yoovidhya.
In the Thai language, Daeng meant red, and Krating refers to a wild species of wild bovine. These meanings bring out the names, Red Bull. After Dietrich merged with Chaleo to form Red Bull, all he did was modify the ingredients to suit the tastes of the westerners. This idea was a huge success hence the popularity of the company.
The drink is sold in a tall and slim blue-silver can; originally, there was only one single nondescript flavor, but nowadays, there are some artificial fruit flavors at the beginning of 2013. The company’s slogan is “Red Bull gives you wings” or occasionally “No Red Bull, no wings.” Krating Daeng, the drink under the name of Chaleo Yoovidhya, was popular among the blue-collar workers of Thailand.
The energy drink was not an up-scale product; a large portion of its market were truck drivers and laborers. When Mateschitz collaborated with Yoovidhya, they both contributed $500,000 from their savings to found the company. They both bought 49% of the company’s shares and gave the rest to Yoovidhya’s son, Charles, but it was agreed that Mateschitz would run the company.
Mateschitz took the energy drink to another level. He made the drink to become popular among the up-scale societies, and eventually, the drink became a favorite a trendy, up-scale setting. The drink was first introduced to ski resorts and had a premium price compared to the low price of Krating Daeng. In 1992, the drink was introduced to Hungary and Slovenia and later in 1994, and it was introduced to Germany and the United Kingdom. Through California, the drink was introduced to the United States of America, and later in 2000, it was introduced in the Middle East.
The two entrepreneurs became immensely successful, and in 2008, the duo was named the 250th richest people in the world, with a net worth of $4 billion.
Evolution
The company gradually expanded its roots, and within no time, the company had already gone international. The product was being sold all over the world, and a big part of its success is that it aimed at up-scale societies. Later on, Krating Daeng had its name changed to Red Bull and was exported to China. This change has a lot of confusion, as many people are not able to tell the difference between the two brands.
Due to technical reasons, the Yoovidhya family owned the trademark in Europe and the US. The family also controlled 51% of the company.
Awards & Achievements
The company has grown very fast and has achieved a lot of success. Apart from the monetary reward received from the success of the company, the company has also received a lot of awards for the achievements that they have had. For example, in 2018, the company received four awards. The awards are as follows;
- Best Company Culture Award.
- Best Company for Diversity.
- Best Company Happiness.
- Best Company Compensation.
The company has also been involved in many other fields and has endorsed so many sports. Through these, they have received a lot of awards that are too many to be mentioned individually.
Net Worth of Red Bull in 2024
This multi-national company has grown very fast because of the uniqueness of the product that they produce. The company is the most popular energy drink company with an admirable net worth. The company has a net worth of about $30 billion as of January 2024. Such a net worth comes from the fortunate earnings the energy drink company has made through the sales of the drink.
Without any doubt, the company has grown successfully throughout the years without any major issue. Although the company faced some legal issues at a time when people questioned the health effects of the product, the company was able to overcome that and become the most successful energy drink brand there is today.