The dairy-free milk alternative oat milk is fast becoming a cult favorite, and Swedish brand Oatly is among those leading the pack. Some big names are taking note — including Oprah, Jay-Z, and Howard Shultz, who are part of a group funneling more than $200 million into the brand.
This deal, which involves the sale of a 10 percent stake in the company, brings the valuation of Oatly to $2 billion. CEO of the company, Toni Petersson, told Cheddar in an exclusive interview that he plans to use the new funding to build on their momentum, and "continue the growth journey that we've been on for a few years now."
Oatly's rise in popularity has been a rapid one. Only 10 coffee shops in the United States featured the plant-based milk brand in 2017. By 2019, that number had grown to 3,500 coffee shops. Part of this new funding will be used to continue the company's expansion in reaction to its exponential growth.
"It's been crazy — completely crazy," Petersson told Cheddar. "We started off in 2018 with just one factory in Sweden, and mid next year we're going to have five factories on three continents, two of which will be in the U.S. And we don't think that's enough."
When Oatly's oat milk began gaining traction among the coffee shop patrons of the world, it quickly began selling out at grocery stores, and price gouging of the product began to skyrocket on e-commerce websites like Amazon.
If Petersson has his way, Oatly will soon be even bigger, and "more than just an oat milk brand, more like a generational brand."
Babylist CEO Natalie Gordon joins Cheddar to discuss how the website is helping new parents, how to make a registry and how secondhand options are available.
ReturnPro CEO Sender Shamiss to discuss how his company is changing the way we make returns and how Trump's tariffs are affecting the return business. Watch!
Chris Beauchamp, Chief Market Analyst at IG International, joins J.D. Durkin to give analysis on the recent trade truce between the U.S. and China. Watch!
Shan Aggarwal, VP of Corporate and Business Development at Coinbase, discusses the company's acquisitio of Deribit as it heads into the S&P 500. Watch!
Shopping expert Trae Bodge discusses how talks between the U.S. and China is good news for now, but uncertainty remains for back-to-school and the holidays.
Jake Traylor, White House reporter at Politico, joins Cheddar to discuss how Trump is aiming to lower drug prices and how it differs from Biden's approach.
DJ X, alongside Molly Holder, Senior Director of Product Personalization, takes us inside Spotify's A.I. DJ and how it's the best new way to listen to music.
Sheryl Palmer, CEO of Taylor Morrison, talks tariff uncertainty, being a female leader in a male dominated industry and what homebuyers need to know. Watch!
