NIO Cocktails, the innovative ready-to-drink brand known for its letterbox-friendly pouches, has announced an undisclosed investment from The Growth Foundation (TGF), an e-commerce company.
Founded in 2017 by Luca Quagliano and Alessandro Palmarin, NIO Cocktails has established itself with a state-of-the-art production facility and a presence in multiple international markets including the UK, Italy, and Germany. The investment from TGF aims to bolster NIO’s direct-to-consumer sales capabilities and accelerate its future growth initiatives.
Since its inception, NIO Cocktails has expanded its product offerings, partnering with luxury hotels, airlines, and retailers globally. Collaborations with renowned spirits brands such as Singleton, Teeling, Cointreau, and Portofino Dry Gin have enhanced its market presence and product portfolio.
Following the investment, NIO Cocktails will undergo a structural transition, with founders Quagliano and Palmarin stepping down from their co-CEO roles to focus on brand ambassadorship and strategic support. This move is intended to streamline operations and optimize leadership for sustained growth.
In a joint statement, Quagliano and Palmarin expressed their pride in NIO’s journey from a concept to a thriving business, emphasizing the brand’s commitment to becoming a global leader in premium ready-to-drink cocktails. They highlighted TGF’s expertise in scaling e-commerce brands as instrumental in achieving this vision.
Richard Chapple, co-founder of TGF, underscored NIO’s potential to revolutionize the spirits e-commerce sector with its innovative packaging and strategic market approach. He cited NIO’s ability to overcome logistical challenges associated with traditional glass bottles as a key advantage in driving online sales.
In April of this year, NIO Cocktails launched a new line inspired by Italian coffee culture, further diversifying its product range and catering to evolving consumer preferences.
With this strategic investment, NIO Cocktails is poised to strengthen its market position and expand its influence in the global ready-to-drink cocktail market.
