The Skinnygirl brand experienced a significant turning point in its history when it was sold to Beam Global for an estimated $100 million dollars by its founder, Bethenny Frankel. This sale allowed Frankel to retain the rights to the “Skinnygirl” name, ensuring that she could continue to benefit from the brand's recognition and success.
The decision to sell Skinnygirl Cocktails was undoubtedly a strategic move on Frankel's part. As an entrepreneur, she likely recognized the potential for growth and expansion that partnering with a larger company like Beam Global could offer. By joining forces with a well-established player in the beverage industry, Frankel had the opportunity to tap into their extensive resources, distribution networks, and expertise.
Moreover, the sale of the brand allowed Frankel to focus on other aspects of her business and personal life. Running a successful brand like Skinnygirl requires immense time, effort, and dedication. By offloading the brand to Beam Global, Frankel could potentially free up valuable time and energy to pursue other opportunities or simply enjoy the fruits of her labor.
While the specifics of the deal between Frankel and Beam Global are not widely available, it is important to note that Frankel retained the rights to the “Skinnygirl” name. This means that, even after the sale, she could continue to leverage the brand's reputation and recognition in various ways. This move was likely a strategic one, as Frankel understood the value of maintaining control over the brand she had built from scratch.
In the world of business, selling a brand or company can be both exciting and bittersweet. On one hand, it represents a significant financial gain and recognition of one's hard work and success. On the other hand, it can be challenging to let go of something that has become a part of your identity and has brought you so much personal and professional satisfaction.
From a consumer's perspective, the sale of Skinnygirl Cocktails to Beam Global may not have had a significant immediate impact. The brand continued to be available in stores and enjoyed by fans worldwide. However, behind the scenes, the acquisition by Beam Global likely provided Skinnygirl with the resources and support needed to continue growing and expanding its product offerings.
The sale of the Skinnygirl brand to Beam Global was a significant milestone in its history. It allowed founder Bethenny Frankel to reap the financial rewards of her hard work while retaining control over the valuable “Skinnygirl” name. The partnership with Beam Global likely provided the brand with the necessary resources and expertise to continue its growth and success in the competitive beverage industry.