Oatly started as a science project
Oatly was an unknown brand for 20 years. Later it became so famous that it was auctioned for $200 per 12 packets. In 1994 a Swedish scientist Richard Oste, invented oat-milk, which resembled the taste and texture of the real milk.
In 2014 it came to USA. Within three years its annual sales rose from $6mn to over $100mn. It aims to double the sales in the FY 19.
Oatly’s turnaround happened due to its rebranding and partnership with third wave coffee cafes. The new brand identity was for the US market, keeping in mind the customers who drink dairy alternatives. It started by retailing with a high-end coffee brand Intelligentsia, and then expanded to 7000 shops and 5000 grocery stores. It is aiming to replicate the success in China.
Dig deeper: