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By Meg Flippin, Benzinga
Click here to learn about Lit Vodkas crowdfunding campaign, and how to invest!
Lit Vodka, the Atlanta distiller, is trying to breathe new life into the market with its high-end Grain-Neutral Spirit (GNS) blend. Distilled ten times using a carbon-filtration process and boasting 40% alcohol by volume, Lit Ultra Premium Vodka is gaining a following thanks to its high-end taste at an affordable price.
A big part of its success since launching in 2019 is Lit Vodkas premium sponsorships aimed at creating a lifestyle brand. Lit Vodkas team of experienced industry executives knows far too well how hard it is to stand out in the vodka market, particularly when it comes to premium brands. Theres little distinction in taste and quality of top vodkas, so branding is an important differentiator. Taking a page from beer companies that have a long history of sponsoring concerts and sporting events, Lit Vodka is doing the same and getting a lot of exposure along the way.
Music, Shows And More
Take its multi-year deal with Gas South Arena, the indoor arena in Duluth, Georgia, which it inked in March of 2020. The arena is home to live shows, events and concerts that appeal to diverse audiences. The partnership included branding the entire Club Lounge and the VIP entrances at the arena. As the official featured vodka, Lit Ultra Premium got product placement, interior signage and digital marketing assets.
That deal alone built name recognition and drove sales, but Lit Vodka hasnt rested on its laurels since then. The company recently became the premier vodka of the Atlanta Braves professional baseball team. Visitors to the stadium can get Lit Vodka-infused cocktails at the Lit Bar, Delta Club or Xfinity Lounge. The deal gives it a big presence at Atlanta Braves games and access to thousands of potential customers across several demographics. After all, baseball is one of Americas favorite pastimes that draws crowds from all walks. The Atlanta Braves team is seeing that this year.
Statista reports the average home stadium attendance for 2023 at about 39,401, a slight increase from the prior years 38,641.
Lit Vodka Hits It Out Of The Park
That deal is poised to give Lit Vodka even more exposure. The Atlanta Braves are hosting the 2025 All-Star game and Lit Vodka will play a big part. As Lit Vodka partners with the Braves to create an unparalleled fan experience, we look forward to working alongside MLB, local businesses, and the community to craft memorable and impactful experiences for an unforgettable All-Star Week, the company said on its website. We'll be sharing event details as they are finalized, so be sure to follow our social channels for the latest updates.
In another big brand-building deal, in October Lit Vodka was the official sponsor and supporting stage sponsor for the 2023 RushSouth Music Fest in Columbus, Georgia, giving it the opportunity to enhance brand visibility and engage with a diverse audience.
The strategy seems to be working. The company sold over 4,000 cases within the first 14 months of business. It previously raised $1.7 million in funds and boasts a valuation of $21 million, and is now offering shares through a crowdfunding raise that has already reached nearly $300,000. In the first seven days, the company raised $239,224.
High Quality At The Right Price
What makes Lit Vodka resonate with consumers is the fact that it can offer high-quality corn-based GNS vodka at an affordable price point. Because the grain is germinated, fermented and then distilled and thats it, the company says the natural flavors come through with clarity and purity.
Lit vodka is American-craft made and distilled 10 times for purity, and boasts 40% alcohol content. Since being launched, the premium yet affordable vodka has won multiple awards, including the 2020 Ultimate Spirits Challenge Great Value Award with a 93 overall score and Silver at the 2020 San Francisco World Spirits Challenge.
It keeps costs down by manufacturing in Georgia and passes along the savings to consumers. Add the lifestyle brand the company is creating through sponsorships and social media to the mix, and it would seem Lit Vodka is cracking the code and reinvigorating a market it believes has not seen enough innovation recently.
The vodka market is expected to grow annually by a CAGR of 2.27% from 2023 through 2028, and vodka accounted for the largest amount of volume sales of spirits in the U.S. in 2022. Consumer preferences overall are beginning to shift towards premium alcohol, and Lit Vodka targets this intersection with its unique flavors.
Following its previous success, the company says it is now ready to expand to new territories, grow our marketing strategies, and connect with new demographics, and it is currently raising funds toward that goal. The company had previously raised $1.7 million in funds. It now boasts a valuation of $21 million and is offering shares through a crowdfunding raise that has already reached nearly $300,000. In the first seven days, the company raised $239,224.
Click here to learn about Lit Vodkas crowdfunding campaign, and how to invest!
This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice.
Contact Details
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Benzinga
COMTEX_444833929/2655/2023-12-12T09:27:14
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