The Free Spirits Company Projects $9 Million Revenue in First Profitable Year
Updated
Updated · Entrepreneur · Jun 8
The Free Spirits Company Projects $9 Million Revenue in First Profitable Year
1 articles · Updated · Entrepreneur · Jun 8
Summary
$9 million in annual revenue is projected for The Free Spirits Company this year, its first profitable year since launching in late 2020.
Growth accelerated from $1 million in 2021 as founder Milan Martin avoided venture capital, relying instead on personal funds and money from friends, family and private investors.
Retail expansion drove scale after an initial direct-to-consumer push during the pandemic: the brand is now in 275 Total Wine & More stores, across 30 states and more than 10,000 locations overall.
The Bay Area non-alcoholic spirits maker says wholesale now accounts for more than half its business, underscoring broader consumer demand for moderation-focused drinks.