Taylor Foxman on Emerging CPG Brands and Building a Name in VC

Did you know you can develop a whisky in a lab in just five months, contrary to the usual five years?In this episode, Brian sits down with Taylor Foxman, founder, and CEO of Industry Collective, to discuss the booming beverage and cannabis industry. Taylor has spent the past 11 years in communications and PR roles for 70 global wine, beer, and spirit brands and was recently awarded 40 under 40 for industry and brand Innovator of the Year. Taylor discusses market saturation due to consumer demand and Covid-19 leading to more brands entering the market, health implications of drinking alcohol, and increased investment in non-alcoholic beverages and cannabis products. Join us as we navigate these topics with one of the top minds in beverage marketing![00:01 - 08:44] 13 Years of Serving Global Wine, Beer, and Spirit Brands and Innovating the Beverage IndustryTaylor's brief background and careerShe began her career in beverages at 19/20, working as an intern for SPED vodkaAlcohol consumption has increased dramatically during COVID, with a proliferation of new brands and startups in the spaceThere are more resources available now for people to create brands from the ground up[08:45 - 17:28] The Non-Alcoholic Beverage Market: Is There Room for More Brands?Market saturation in the beverage industry is increasing due to consumer demandConsumers have more optionality than ever before with non-alcoholic beverages, and there is no downside to this categoryYounger generations are more accepting of abstaining from drinking and don't need to rationalize it[17:29 - 30:09] The Growing Acceptance of Cannabis and Non-Alcoholic BeveragesIndependent brands are leading the charge for non-alcoholic beveragesCannabis use is widely accepted and practiced in certain peer groups more than alcoholEducation is needed to help people understand the wider category of cannabis productsThe venture capital market is currently very challenging for entrepreneurs and sponsors[30:10 - 38:38] How to Achieve Your Goals with Daily PracticesCelebrity partnerships and influencer partnerships are becoming more popular, which will cause a shift in strategy this yearBrands are moving towards premiumization, with higher price pointsManifesting is an important daily practice for Taylor to bring peace to her life[38:39 - 40:04] Closing SegmentQuotes:"You have to think and be so intentional with everything you do. Every email you write to an investor, every pitch deck you send to a potential distributor or retail partner, everything has to be buttoned up and spot on because you are in a market now." - Taylor Foxman"I've learned that the more specific you get, the better." - Taylor FoxmanConnect with Taylor!Website: www.theindustrycollective.org Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/Connect with me on LinkedIn!LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in, and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.