Jr, pals go for piece of nudie action, Paul McIntyre
- 6th May 2004
The Sydney Morning Herald)
Jack Singleton and his partners
at ad agency Jack Watts Currie have just bought
a stake in the booming, upstart and irreverent
juice company nudie, which they helped create
18 months ago.
Singleton - son of ad guru John - reckons he's
done a Victor Kiam-like deal where in the famous
1980s advertising tagline for Remington shavers,
Kiam claimed he liked the product so much he "bought
much as Mr Singleton would have us believe it's
a major deal for his ad agency, Jack Watts Currie
is believed to have bought a 2 per cent stake
in the nudie business, for an undisclosed price.
a stake, nevertheless, in a company which has
never advertised but is making some large drinks
companies quite nervous. Since it's inception
18 months ago, annualised sales have topped $12
million and the company is targeting at least
$25 million in the next 12 months.
founder, Tim Pethick, says a range of nudie soups
will be launched in winter and an expansion into
the ice-cream market is planned for summer. Mr
Pethick admits, so far, the company has not made
be profitable sometime in the next six months,"
he says. "It's just that we've gone from
two people to 90 people in the space of 12 months.
We're investing heavily in growing the business."
with nudie showing all the classic signs of either
publicly listing as a "small cap" company
on the Australian Stock Exchange or being acquired
by a larger softdrinks conglomerate in the next
two to three years, why sell a stake to Jack Singleton
an acknowledgement they've been instrumental in
helping create the brand as it is today,"
Mr Pethick says. "It's good for us and for
them to have an ongoing involvement."
Singleton certainly agrees it's a fair wrap. He
had a call from Mr Pethick late one Friday afternoon
wanting to talk about launching a new fruit juice
that stage, I thought yeah, yeah, we've heard
that one before," Mr Singleton recalls.
the following week they met up and Jack Watts
Currie did their first project outside of traditional
advertising - concocting the nudie name and the
just looked at all the boring packaging that everyone
in the fruit juice category was doing and had
some fun with it," he says. "We did
absolutely no research, no focus groups. Tim just
followed his own gut instinct. Some big beverage
companies have spoken to Tim and said they could
have never done it because their research companies
would tell them the name was too rude, too quirky."
Pethick says he's not concerned by the explosive
growth of the retail juice bars, or the fact the
likes of Berri or Coca-Cola are muscling in on
the super premium juice segment that nudie has
helped carve out.
bars have helped create our business," he
says. "They help introduce the notion of
big beverage players, meanwhile, have several
issues to face when entering the market, according
to Mr Pethick. First, they have to source the
fresh fruit and then create the right brand.
not convinced they're capable of marketing it,"
he says. "I think the [nudie] brand will
hold us in good stead."
for plans for nudie's first media advertising?
don't see us having to do it for a while,"
he says. "I think it's a couple of years
away. We're highly dependent on event marketing."
the timing on selling all or part of the company?
"I'm just focused on paying my mortgage right
now," he says.
Great Aussie Promoters, by Greg Tingle