Madonna has a thing for coconut water. In 2016, it was reported that the singer’s secret to youthful and flawless skin was fresh coconut water which she drank on the daily. Madonna, alongside investors like Mathew McConughey and Demi More, decided to fund a company called Vita Coco, a supplier of fresh coconut water. Madonna loved the beverage so much that she became Vita Coco’s biggest investor by contributing $1.5 million towards the business.
The brand is a leading supplier of coconut water around the world started by two friends in 2004. Vita Coco has soared over the past few years and today, its market cap is well over $2.5 billion. In 2016, the company reported 19% increase in its global sales, an impressive growth figure in a competitive market.
The brand had gave up its 25% stake to Red Bull China. The investment is paying off and the investors are smiling to the bank.
Despite Madonna’s music career success, she has done well in the business world. She is regarded as a risk taker when it comes to business projects. She has launched businesses considered risky and competitive and come out with bruises. Her sense of winning and risking has made her a success in many of the start-up businesses she has put her money.