Innocent Drinks was founded in 1999 by Richard Reed, Adam Balon and Jon Wright: three Cambridge graduates working in the well-paid world of corporate consultation and advertising who knew precisely how to market idealism in the form of fruit smoothies. As did design director, David Streek, who developed the brand identity based on fair trade, environmental friendliness, and making sure people get their five-a-day. Or bringing nature, community, and business closer together for mutual benefit.
Via the Innocent Foundation, a UK registered charity set up in 2004, the company donates a percentage of its profits to good causes, including development projects in the Third World. Innocent also run a campaign in partnership with Age Concern each autumn known as the Big Knit, in which people are encouraged to make tiny little woolen hats to go on top of 250ml bottles. Every sale of such results in a 25p donation to charities attempting to save the thousands of old folk who risk freezing to death during the winter because they can't afford to heat their homes.
So far, so saintly. But, of course, no one is innocent; not even Messrs. Reed, Balon and Wright ...
And so it came to pass that in April 2009, they announced that they had agreed to sell an 18% share of their company to Coca-Cola for a sum in the region of £30 million. Despite the horrified reaction of many customers to this news and the threat of a boycott, one year later Coca-Cola upped its stake in Innocent to 58% for a further £65 million. Coke applied the coup de grace in February of this year; increasing its holding to over 90% and taking full operational control whilst the three founders pocketed another £100 million.
Richard Reed described the deal as beautiful and pointed out that if it were not for capitalism we would all be living in mud-huts, or shivering to death from the cold like the elderly. It's easy to be cynical and sneering, but at some point customers and companies alike need to grow up and get real.
Richard Reed described the deal as beautiful and pointed out that if it were not for capitalism we would all be living in mud-huts, or shivering to death from the cold like the elderly. It's easy to be cynical and sneering, but at some point customers and companies alike need to grow up and get real.
It is, of course, an old story that follows a predictable path and no one should really be surprised by this sell-out. Nor shocked to hear that Innocent have now signed a deal with McDonald's. Even so, for the first time a fruit smoothie is starting to leave a nasty taste and one remembers again Malcolm McLaren's sage advice: never trust a hippie - particularly a hippie with a calculator.
