CBD drinks sensation Trip has racked up losses of almost £14m as it invested heavily into building a global brand with booming sales, new documents have revealed.
The business, launched by Olivia Ferdi and Dan Khoury in 2019, accumulated losses of £5.6m in the year ended 28 February 2024, according to unaudited accounts filed at Companies House. It comes on top of a similar deficit in the prior year and takes total losses at the business to £13.9m.
Trip is not yet required to file a full P&L, with the latest document not including revenues for the year.
However, The Grocer understands the company – which topped the Alantra ‘Fast 50’ list of the fastest-growing UK food and drink businesses in 2024 – has grown significantly over the past year as it established a major presence in the US market.
Its UK operations moved into profit in 2024, with the range of functional drinks stocked in more than 30,000 shops across the country as it established itself as the clear market leader in CBD.
Trip expects to generate revenues of more than £60m this calendar year – with the Q1 run rate hitting £45m – as well as turning a profit.
The brand has raised more than £25m over a series of funding rounds in recent years, including a £5.6m equity investment agreed with The Equity Studio in December, using the money to build its global infrastructure, particularly in the US, where it also has a manufacturing base.
Trip already supplies three US retail heavyweights, including Target and Sprouts Farmers Market, and has three more national accounts lined up to launch by the first quarter of 2026.
The continued bulking up of distribution in the UK, Europe and US mean the company is forecasting continued rapid and profitable revenue growth, with sales set to surpass £100m in 2026.
“Trip’s mission is to help a billion people find calm around the world,” said MD James Edmunds. “Since launch in 2019, we have invested to build a global brand.
“The support from our community every year has been amazing, and we’ve loved seeing the community grow so much in the US over the last year.”
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