Celsius Holdings
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 A can of Celsius, the product associated with Celsius Holdings. | |
| Formerly | Vector Ventures, Inc. |
|---|---|
| Company type | Public |
| ISIN | US15118V2079 |
| Industry | Beverage |
| Founded | 2004 |
| Headquarters | Boca Raton, Florida, U.S. |
Key people | John Fieldly (President & CEO) |
| Revenue |  US$1.32 billion (2023) |
| US$233 million (2023) | |
| US$227 million (2023) | |
| Total assets | US$1.54 billion (2023) |
Number of employees | 765 (2023) |
| Website | celsius |
| Footnotes / references [1][2][3] | |
Celsius Holdings, Inc. is an American company that produces a range of fitness and energy beverages under the brand name Celsius. The company's products are marketed as healthy, a strategy that the CEO credits the brand's success to.[4][5]
History
[edit]The company was founded in 2004 by Steve Haley. In 2009 the company released their first energy drink in Sweden and ended with a revenue of 5.86 million.[6] By 2012, the company had a market capitalization of approximately $5 million. Five years later, in 2017, Celsius was listed on the Nasdaq.[7] By the end of that year, Celsius Holdings had an annual revenue of almost $36 million.[8]
As of August 2024, Celsius holds an 11% market share of the $19 billion energy drink industry, generating over $1.3 billion in revenue and a market capitalization of roughly $9 billion. The company's success is attributed to its alignment with current consumer preferences, such as increased caffeine content, appeal to health-conscious consumers, and a focus on fruit-flavored products rather than chemically-tasting alternatives.[9]
Products
[edit]Celsius has different product lines that contain different caffeine levels.[4]
| Product name | Caffeine | Calories | Carbs |
|---|---|---|---|
| Celsius Live Fit | 200 mg | 10 kcal | 00 g |
| Celsius Essentials | 270 mg | 10 kcal | 00 g |
| Celsius On-The-Go | 200 mg | 10 kcal | 01 g |
| Product name | Caffeine | Calories | Carbs |
|---|---|---|---|
| Celsius BCAA+ Energy | 100 mg | 15 kcal | 02 g |
| Celsius with Stevia | 200 mg | 10 kcal | 10 g |
Composition and health risks
[edit]| Nutritional value per 100 g (3.5 oz) | |||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Energy | 10 kcal (42 kJ) | ||||||||||||||||||||||||||||
0 mg | |||||||||||||||||||||||||||||
0 mg | |||||||||||||||||||||||||||||
0 mg | |||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||
| Other constituents | Quantity | ||||||||||||||||||||||||||||
| Caffeine | 200 mg | ||||||||||||||||||||||||||||
| †Percentages estimated using US recommendations for adults,[10] except for potassium, which is estimated based on expert recommendation from the National Academies.[11] | |||||||||||||||||||||||||||||
Ingredients
[edit]Celsius contains green tea extract, which contains epigallocatechin gallate (EGCG), an antioxidant. Guarana seed extract further increases caffeine content. Ginger root is used as both a flavoring agent and for anti-inflammatory effects.[12][unreliable medical source?]
Caffeine
[edit]Celsius contains 100 mg – 270 mg of caffeine, depending on the product line and size of the can.[12] The varying caffeine content information is located on the can of each Celsius drink sold.
Health professionals suggest you generally drink no more than 400 mg of caffeine per day.[13] Ingesting more than 400 mg can result in symptoms such as trouble falling asleep, jittery or anxious behavior, headache, stomach pain, nausea, increased heart rate, and negative mood changes.[13]
NCAA ban
[edit]In 2021, the NCAA banned Celsius use due to it containing Ginseng, guarana, L-carnitine, and taurine, all of which are on the NCAA banned substances list,[14] as they are performance-enhancing substances.
Partnerships and sponsorships
[edit]Major investments
[edit]Carl DeSantis invested in the early months of Celsius Holdings in 2004.[15] DeSantis continued to invest throughout the company's development because the product line interested him. In 2010, a $3 million dollar credit line was invested in Celsius for an advertising campaign to promote the new products, but the money did not create the outcome expected.[15] As a stakeholder, he provided advice to the Celsius team and assisted with leadership changes in 2012 when the company was not meeting the expected business goals.[15] DeSantis died having earned $1.2 billion dollars from a 31% stake in Celsius Holdings.[15]
PepsiCo invested $550 million in Celsius Holdings,[16] a 8.5% minority stake.[17]
Marketing in colleges
[edit]Celsius Holdings partnered with Learfield, a collegiate sports marketing company, to form partnerships with college students.[18] In 2023, the brand began partnering with college football quarterbacks, Bo Nix, from the University of Oregon and Michael Penix Jr., of the University of Washington.[18]
In January 2024, Celsius began partnering with college basketball basketball players JuJu Watkins, Jared McCain, Cody Williams, and Kwame Evans Jr..[19]
Celsius University was created in 2022 as a student ambassador program, paying students to promote the product line on college campuses.[20]
Motorsports sponsorship
[edit]
Early in the company's history, it began sponsoring motorsports entries through series such as NASCAR and Formula One. As of 2024, the company sponsors Kaulig Racing, Spire Motorsports, Jordan Anderson Racing, Tricon Garage in NASCAR, and in Formula 1.[21]
Litigations
[edit]Class-action lawsuit
[edit]Celsius Holdings faced a class-action lawsuit in November 2022 for allegedly misleading customers with the ingredient citric acid being added as a flavor instead of a preservative.[22] Celsius Holdings claimed that citric acid does not serve as a preservative, but as flavoring for their beverage.[22] The lawsuit was settled outside of the court between the parties involved, so there was no ruling against Celsius Holdings.[23] The settlement agreed included that any class member who purchased a Celsius drink for personal purposes to submit a claim for money back.[22][23] Upon submission of a claim, you can receive up to $250 for $1 per Celsius drink, or $5 per package of 14 Celsius drinks if you have a receipt. Without a receipt, you can request up to $20 per household.[22][23]
Flo Rida lawsuit
[edit]Celsius Holdings faced a lawsuit in 2021 with Tramar Lacel Dillard (Flo Rida) for a breach of contract when the company allegedly withheld details about revenue.[24][25] Flo Rida was a contracted brand ambassador from 2014 to 2018 which brought Celsius to concerts and events to help expand the brand.[25] The Florida court ruled in Flo Rida's favor that Celsius Holdings was in breach of contract as Flo Rida's publicity assisted in the company's growth.[24] Flo Rida was awarded $82.6 million in January 2023 due to the lawsuit.[24][25]
Sources
[edit]- ^ "Company Profile". Retrieved 14 May 2024.
- ^ "Income Statement". Retrieved 14 May 2024.
- ^ "Balance Sheet". Retrieved 14 May 2024.
- ^ a b "Essential Facts". Celsius. Retrieved 2024-03-17.
- ^ Demopoulos, Alaina (2024-09-14). "'A troubling halo of health': how Celsius became Red Bull for women". The Guardian. Retrieved 2024-10-14.
- ^ "Celsius Holdings Financial Statements 2009–2024 | CELH". www.macrotrends.net. Retrieved 2024-03-17.
- ^ holdings (2017-06-05). "Celsius Holdings, Inc. to Ring the Nasdaq Stock Market Opening Bell on Tuesday, June 6, 2017". Celsius Holdings Inc. Retrieved 2024-03-17.
- ^ "Celsius Holdings revenue 2022". Statista. Retrieved 2024-03-17.
- ^ Doering, Christopher (2024-08-13). "You can't 'replicate a Celsius': How the energy drink maker evolved from an unknown to category giant". Food Dive. Industry Dive. Retrieved 2024-08-15.
- ^ United States Food and Drug Administration (2024). "Daily Value on the Nutrition and Supplement Facts Labels". FDA. Archived from the original on 2024-03-27. Retrieved 2024-03-28.
- ^ National Academies of Sciences, Engineering, and Medicine; Health and Medicine Division; Food and Nutrition Board; Committee to Review the Dietary Reference Intakes for Sodium and Potassium (2019). Oria, Maria; Harrison, Meghan; Stallings, Virginia A. (eds.). Dietary Reference Intakes for Sodium and Potassium. The National Academies Collection: Reports funded by National Institutes of Health. Washington, DC: National Academies Press (US). ISBN 978-0-309-48834-1. PMID 30844154. Archived from the original on 2024-05-09. Retrieved 2024-06-21.
- ^ a b Dietitian, Jamie N, Registered (2023-08-09). "Is Celsius Bad for You? The Truth from a Dietitian". The Balanced Nutritionist. Retrieved 2024-03-06.
{{cite web}}: CS1 maint: multiple names: authors list (link) - ^ a b Commissioner, Office of the (2023-09-06). "Spilling the Beans: How Much Caffeine is Too Much?". FDA.
- ^ LifeWallet (2023-06-29). "Celsius Energy Drink Banned by NCAA for Containing Illegal Substances – LifeWallet Network". Retrieved 2024-03-06.
- ^ a b c d Tucker, Hank. "Florida Octogenarian Becomes A Billionaire After Investing In Celsius Energy Drink". Forbes. Retrieved 2024-03-05.
- ^ LoRé, Michael. "Celsius' Push Into Pro Sports Energized By PepsiCo Investment". Forbes. Retrieved 2024-03-06.
- ^ Lucas, Amelia (2022-08-01). "PepsiCo takes $550 million stake in energy drink maker Celsius". CNBC. Retrieved 2024-03-06.
- ^ a b admin (2023-08-28). "CELSIUS® Adds 4 New Colleges to Its Roster, Fueling Students and Athletes with Essential Energy". LEARFIELD. Retrieved 2024-03-07.
- ^ Ehrlich, Michael (2024-01-20). "CELSIUS Signs NIL Partnerships with Freshman Basketball Stars". Sports Illustrated NIL on FanNation News, Analysis and More. Retrieved 2024-03-17.
- ^ Richardson, Jenna (2023-04-03). "Celsius University: How Celsius Is Living Fit with College Students". Platform Magazine. Retrieved 2024-03-17.
- ^ Engle, Greg. "One Sponsor Lives In Both The NASCAR And F1 Worlds". Forbes. Retrieved 2024-06-27.
- ^ a b c d "If you've ever purchased a Celsius drink, you could be eligible for up to $250". TODAY.com. 2023-02-03. Retrieved 2024-03-17.
- ^ a b c Mendoza, Jordan. "Ever bought a Celsius energy drink? You could receive up to $250 from class action lawsuit". USA TODAY. Retrieved 2024-03-17.
- ^ a b c Fischer, David. "Flo Rida awarded $82.6M after suing energy drink brand Celsius: 'I helped birth this company'". USA TODAY. Retrieved 2024-03-17.
- ^ a b c Lane, Barnaby. "Rapper Flo Rida won $82.6 million after suing energy drink company Celsius. He's launching a rival drink and wants to make it 'even healthier.'". Business Insider. Retrieved 2024-03-17.
External links
[edit]- Official website
- Business data for Celsius Holdings, Inc.: