10 Things You Didn’t Know About Sugarfina, Inc.
There is an abundance of candy companies that cater to the tastes of children, but very few that are specifically aimed at an adult market. This is what makes Sugarfina, Inc. stand out from other candy companies as their target market is adults who want to enjoy unique and luxurious candies. Although this company has developed a huge customer base and is well-known in the food industry, there are probably many things that people do not know about this brand. Here are ten interesting facts about Sugarfina, Inc.
1. It Was Founded in 2012
Rosie O’Neill and Josh Resnick founded Sugarfina, Inc. in 2012 while they were still dating. The couple has since got married. They opened their first boutique in 2013 in Beverley Hills.
2. A Movie Inspired the Brand
The idea for Sugarfina, Inc. came to O’Neill and Resnick on their third date. They watched the movie ‘Charlie and the Chocolate Factory’, based on the popular children’s book by Roald Dahl. In the film, factory owner Willy Wonka creates unusual and unique candies and chocolate for children. O’Neill and Resnick both believed that it shouldn’t just be children that get to have all the fun with candy, and the idea for unusual adult candies was born.
3. They Have Collaborated with Many Companies
To keep up with food and drink trends and to broaden their customer base, Sugarfina has collaborated with many other companies to make new and interesting product lines. For example, to follow the juicing craze, they collaborated with ‘Pressed Juicery’ to release green juice gummies. They also collaborated with George Clooney’s tequila brand to create a range of tequila infused chocolates and candies.
4. Sugarfina Inc Raised $35 Million to Expand in 2017
Due to their initial success, Sugarfina, Inc. needed money to expand, and their first round of funding raised them $15 million to do just that. In 2017, they needed to raise more money for further expansion. Private equity firm Great Hill Partners invested $35 million into the company. Which brought their total funding to $50 million. The funding was used partly to increase the number of boutiques in North America, but also to expand to Europe, the Middle East, and Asia.
5. They Have Hosted Weddings in Their Stores
Although selling candies is the main business of this brand, Sugarfina has also expanded its interests by using their boutiques for various events. They have even conducted candy-themed weddings within their stores.
6. There Was Once a Waiting List of 18,000 People for a New Candy
Sugarfina follows food and drink trends and uses these as inspiration to create candies that are based on these trends. When drinking rosé wine became a trend, Sugarfina created a rosé wine flavored candy. Before it was even launched, there was a waiting list of 18,000 people who wanted to buy the candied. When this product was launched, it sold out in just one day.
7. Two-Thirds of the Revenue Comes from Gift Sales
Sugarfina is not just about the taste of the candies; it is also about the smell and how they appeal to the eye. Therefore, they are presented beautifully, and this makes them ideal as gifts. In fact, Sugarfina estimates that around two-thirds of their revenue comes from gift sales.
8. Instagram Plays a Vital Role in Their Branding
This brand makes use of various social media platforms to promote their products, but Instagram plays a particularly important role in the brand’s success. Their products are photographed alongside the food and drink that have inspired them in eye-catching photos that attract a lot of attention from the company’s followers.
9. There Was a Sugarfina-Themed Event in ‘Cooking Craze’
In February 2019, Big Fish Games featured an event themed around Sugarfina in their mobile game ‘Cooking Craze’. Rosie O’Neill said that she was a fan of the game herself and that she was delighted about the partnership.
10. Their First Overseas Boutique Was in Hong Kong
Sugarfina, Inc. has enjoyed phenomenal success in the United States and the company has stores in over 50 major cities, including Boston, Chicago, New York, and Los Angeles. They have also expanded to international locations and their first overseas boutique was opened in Hong Kong.