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Yahoo
3 minutes ago
- Yahoo
Liquid Death CEO on energy drink push, consumers, & growth
Liquid Death ( is keeping close watch on aluminum tariffs, but the impact so far has been minimal. Liquid Death founder and CEO Mike Cessario joins Asking for a Trend with Josh Lipton and Yahoo Finance Senior Reporter Brooke DiPalma to discuss the state of the consumer, Liquid Death's expansion into energy drinks, and whether the company is considering an initial public offering (IPO). To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here. Mike, welcome and let's start with you. You know, Mike, Trump and trade and tariffs obviously have been front and center for investors, Mike. Could you walk us through whether Liquid Death might do you all have tariff exposure and if so, how you navigate in that? Yeah. I mean, I think with everything, it's been things that go back and forth. They're saying one thing but then not another. I think for us, you know, aluminum cans and aluminum that that's definitely one that we have to keep an eye on, but I mean, as we're seeing now, actual implications are not anything too material to to us that we're seeing right now. But and obviously, we keep a close eye on it. You know, Mike, we're always looking for for line of sight to the consumer. So I'm just curious, based on your business, Mike and what you're seeing, what do you see with the consumer? How how healthy? How resilient, Mike? Does the consumer look to you? Yeah, I think it's a, you know, you can see across CPG and beverage brands, it's it's been a tough year with with the consumer. Um, but I think what you've typically seen in the past, even in recession periods, premium brands tend to still do well in those periods, cuz it might be that, hey, people are not going out to the bar to go spend a hundred bucks on drinks, so they have people at the house, but you're not going to stock the cheap stuff at your house and invite people over, like you probably buy the good stuff, and you kind of create the going out experience in a in a more, you know, cheaper environment. So, you know, we haven't seen through since we've launched all the different things, COVID, everything, um, you know, we've never been hit too hard by, you know, kind of a a shifting consumer sentiment. Mike, you're moving into the fourth category. You're in water, you're in iced tea, sparkling water. Now you're getting into energy and there's just been so much noise in this space. Molson Coors acquired Zoa Energy late last year. We have Celsius buying out Alani. Why does Liquid Death also needs to be in this space too? So, if you look at our brand, right? We are we've always been a more of a younger, millennial, Gen Z brand. And what we've been really successful at is bringing new, younger consumers into these kind of old boring categories that are very very health conscious, like water and low calorie flavored sparkling water. And when you look at those categories, 50% of the sales in either of those in water come from people over the age of 40. In energy drinks, less than 10% of the sales come from people over 40. So, our existing people that follow our brand, we have a massive audience. We just passed Monster Energy for social followers on Instagram and Tik Tok combined. We have over almost 15 million followers, only Red Bulls ahead of us. So, we have this massive audience that love what we do, love our marketing, but maybe they're not frequent consumers of plain water or low calorie sparkling, but they do drink a ton of energy. And how can Liquid Death create a better a truly better for you option in this space that then allows us to convert more of our massive fan base into more frequent drinkers. Mike, I've loved following your marketing campaigns, all the energy behind the brand over the past three years and back in October 2022, when we chatted, you had told Yahoo Finance that you were exploring all possible paths. And we do have a new report from the S&P Global out this morning saying that IPO activity in Q2 was up more than 33% compared to Q1. And so, Mike, is an IPO on the table for Liquid Death? Look, I mean, we're really just focused on building a big, profitable business. And as long as we are able to achieve that and keep our eye on that goal, we're going to have all the optionality that we want and, you know, timing optionality of when we would want to go if we did want to go. So, yeah, we don't have anything specifically set in mind, um, or planned. We're just looking at how do we maximize our optionality where if we want IPO as an option, then it's a realistic option for us. Mike, it's been pretty amazing to see the M&As that have happened though this year. Pepsico buying out Poppi, your current valuation at 1.7 1.4 billion dollars as of last year. So, M&A, what do you make of this in this space right now? It's certainly buzzing. Yeah, I think you can see that a lot of the, um, the bigger brands have really been struggling with growth over the last two years, and predominantly the last year. So I think the appetites finally now that you can't keep raising price, which is kind of the growth lever through a lot of COVID isn't there, they're, you know, they they have to now start invest they're starting to invest in acquiring growth through some of these M&A deals with these brands. Mike, I have to ask you about uh, Ozzy Osbourne as well, Mike, who, of course, passed away this week. You all had a partnership with Ozzy. Mike, could you just walk us through that partnership, how it came about, Mike, and what it meant for the company? Yeah, I mean, I grew up listening to punk and metal music and Ozzy was a huge sort of influence for me. So, when we got to work with him, um, about two years ago, the first time and then very recently, we we did something else with them. It was so cool for for me and, you know, just what a great guy and family, like they were so easy to work with. And, um, yeah, I mean, pretty wild that one of the last things that he did before he died was a Liquid Death campaign where we sold his DNA on cans of Liquid Death iced tea. Um, so, yeah, was pretty sad to see him go. But, um, What was the what was the reception that, like Mike? It was incredible. It's one of our highest performing social things we've done in a long time. And yeah, I mean, I think people are reselling the cans on eBay right now for like $20,000 a piece. Wow. So, um, yeah, I think it was just a really fun way to you know, celebrate Ozzy as like there will never be another Ozzy Osborne. So literally, the only way is if you clone them. I think that was kind of a fun sentiment to to put out there. Related Videos How meme stock mania is a 'sign of the times' 'We ask for more data' than FICO: VantageScore CEO Exciting Time, Data Center Construction Booming: Aon CFO Low volatility, US dollar, tech 'super boom': Market Takeaways Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fox News
3 minutes ago
- Fox News
Michelle Obama portraitist's exhibit with trans Statue of Liberty pulled after pressure from Vance
EXCLUSIVE: Artist Amy Sherald canceled her upcoming exhibit featuring a portrait of a transgender Statue of Liberty at the Smithsonian's National Portrait Gallery after Vice President JD Vance raised concerns the show included woke and divisive content, Fox News Digital has learned. President Donald Trump signed an executive order in March that placed Vance in charge of overseeing the removal of programs or exhibits at Smithsonian museums that "degrade shared American values, divide Americans based on race, or promote programs or ideologies inconsistent with Federal law and policy." Vance said Sherald's "American Sublime" exhibit violated Trump's executive order and was an example of woke and divisive content during a meeting June 9 with the Board of Regents, a source familiar with the meeting told Fox News Digital. "Vice President Vance has been leading the effort to eliminate woke indoctrination from our beloved Smithsonian museums," an administration official said in an email to Fox News Digital. "On top of shepherding the One Big Beautiful Bill through the Senate and helping President Trump navigate international crises, the vice president has demonstrated his ability to get President Trump's priorities across the finish line." Sherald, best known for painting former first lady Michelle Obama's official portrait in 2018, announced Thursday she was pulling her show, "American Sublime," from the Smithsonian's National Portrait Gallery slated for September, The New York Times first reported. Sherald said she was rescinding her work from the exhibition after being told that the National Portrait Gallery had some concerns about featuring the portrait of the transgender Statue of Liberty during the show. The painting, "Trans Forming Liberty," depicts a trans woman with pink hair wearing a blue gown. "These concerns led to discussions about removing the work from the exhibition," Sherald said in a statement, The New York Times first reported Thursday. "While no single person is to blame, it's clear that institutional fear shaped by a broader climate of political hostility toward trans lives played a role. "This painting exists to hold space for someone whose humanity has been politicized and disregarded. I cannot in good conscience comply with a culture of censorship, especially when it targets vulnerable communities. "At a time when transgender people are being legislated against, silenced and endangered across our nation, silence is not an option," Sherald added. "I stand by my work. I stand by my sitters. I stand by the truth that all people deserve to be seen — not only in life, but in art." The Smithsonian did not immediately respond to a request for comment regarding Vance's involvement in the matter. The White House said the removal of Sherald's exhibit is a "principled and necessary step" toward cultivating unity at institutions like the Smithsonian. "The 'Trans Forming Liberty' painting, which sought to reinterpret one of our nation's most sacred symbols through a divisive and ideological lens, fundamentally strayed from the mission and spirit of our national museums," Trump special assistant Lindsey Halligan said in a statement to Fox News Digital. "The Statue of Liberty is not an abstract canvas for political expression. It is a revered and solemn symbol of freedom, inspiration and national unity that defines the American spirit." Other members of the Smithsonian's Board of Regents include the Chief Justice of the United States, John Roberts, along with senators John Boozman, R-Ark.; Catherine Cortez Masto, D-Nev.; and Gary Peters, D-Mich., along with several other House members.
New York Post
5 minutes ago
- New York Post
Trump's tariff plan seems to be working — proving all the naysayers wrong
For all the 'sky-is-falling' cries over President Donald Trump's tariffs, it looks like his strategy may be working — just as his Aug. 1 deadline nears. In the past week, the Trump folks struck deals with Japan, Indonesia and the Philippines — and may be on the verge of a deal with Europe: On Friday, the prez cited a 50-50 chance of reaching an agreement with the European Union. These developments — on top of previous deals with Vietnam, the United Kingdom and a framework on rare-earth exports and tech restrictions with China — go a long way toward standing up Trump's vision for the international economy, with better terms for America. And at least so far, no catastrophic fallout. Heck, the nation looks poised to benefit enormously on several fronts. Trump's deals in Asia, for starters, reopen US access to cheap markets, sidestepping China, our greatest economic and military rival. Indonesia and the Philippines will pay 19% tariffs on their exports to the United States and levy 0% tariffs on more than 99% of US goods. Japan will see 15% tariffs and invest more than half a trillion dollars into the US economy. Washington will also slap fewer restrictions on Indonesian, Filipino and Japanese goods, everything from cars and clothes to electronics and rubber. And now EU officials are signaling their support for a deal that would mirror the one Trump made with Japan — reciprocal tariffs of 15%. Notably, the EU includes 27 countries in a shared common market, representing the largest singular trading bloc for the United States. The EU deal would clearly benefit US consumers looking to buy, say, French wines or German cars, and also US producers seeking wider access to the European markets. Keep up with today's most important news Stay up on the very latest with Evening Update. Thanks for signing up! Enter your email address Please provide a valid email address. By clicking above you agree to the Terms of Use and Privacy Policy. Never miss a story. Check out more newsletters Meanwhile, the resolution of trade issues with so many countries will calm markets and bring confidence and stability to the business community. As for the predicted inflation, it's nowhere to be seen: June's consumer price index came in at a reasonable 2.7%. Recall it hit 9% under Joe Biden. That's partially because corporations, unsure of whether high tariffs will remain permanent and nervous about hiking prices, have absorbed most of the tariffs' costs, at least for now. More good news: The tariffs brought in $64 billion in revenue for the government in just the first three months since Trump's April 2 'Liberation Day' announcement. He's suggested issuing 'rebates' based on that haul, but far better to use the new revenue to pay down the runaway national debt. Yes, there's plenty more to do: Team Trump needs to finalize agreements with Canada, India and Mexico, along with the EU, and numerous smaller countries, before the president's across-the-board reciprocal tariffs hit Aug. 1. So considerable uncertainty remains. But clearly the signs are good, at least so far — despite all the doomy predictions.
