Meanwhile, his company GT's Living Foods makes $275 million in annual sales & controls 40% of the US kombucha market. He owns a 100% stake of the company & never took any loan except $10,000 from his mother Laraina in the start-up. In April 2020, GT Dave's net worth accounted at $1 billion as per The Forbes the fortune value is estimated at $1.5 billion in September 2020. He donated $1 million to Kombucha Brewers International in 2019, which aims to solidify the integrity of the kombucha products. The Forbes reported GT's Living Foods worth over $900 million in 2019, and John Hackett of Coca Cola estimates that Dave's company with a growth of 40% per year will hit a $2 billion category by 2020. analysis, kombucha consumers bought $600 million worth of the product in 2015, with more than half being of GT's. As per the report of The Forbes in May 2019, GT Dave's company made an estimated $275 million in sales annually. GT's Kombucha celebrated its 20th anniversary in 2015.ĭave rebranded GT Kombucha as GT's Living Foods in 2018 and produces 1 million bottles per year in a 260,000-square-foot factory in Vernon, California, that cost him $40 million in construction. Moreover, along with original Cla s sic Kombucha, he expanded the business with the addition of the Enlightened Kombucha line, Chia flavors to the Synergy Kombucha line, CocoKefir, and CocoYo.
GT's Kombucha Is A Billion-Dollar Companyīy 2005, GT Dave moved the kombucha production to a larger brewing facility and began national distribution. By the late 1990s, his company was earning $150,000 in annual sales. Thereafter, Greg Thomas would rent a 2,000-square-foot industrial space in Gardena, expanding Kombucha and Synergy Kombucha in California Whole Foods stores. In 1996, he introduced flavored Kombuchas and created a new Synergy line of Kombucha by 1997, accounting for 30 to 50 cases sales per day. In 1995, at the age of 17, he founded GT's Kombucha, where he serves as the CEO and founder until now.ĭave sold his first-ever bottled GT's Kombucha to LA health food store Erewhon Natural Foods his two cases (24 bottles) sold-out on the first day. It inspired GT Dave to expand the product in the market and make it accessible for everyone to benefit selves with kombucha tea. In 1994, Dave's mother Laraine was diagnosed with breast cancer & recovered the disease with the use of a homemade kombucha drink. Inspiration To Bring GT's Kombucha In The Market & Growth To Prominence How Old Is GT Dave?Īs of September 2020, GT Dave is 41 years old and has a height of 5 feet 11 inches (180 cm). At that time, he attended Beverly Hills High School as a freshman and later enrolled at Santa Monica College to take business cla s ses but left & obtained GED. Reportedly, Gerg Thomas Dave's parents received a SCOBY as a family gift in 1992 and began home brewing kombucha. His elder brother Justin died in 1996 due to bone cancer, while the eldest brother, Adam is a 2008 graduate of Louisiana State University's medical school.
Chris Reed, of Reed's, similarly shrugs at carbonating his booch: "What's the difference, whether a bug ate the sugar and farted out the CO2 or you added it yourself?" And the nationally distributed Kombucha Wonder Drink touts being pasteurized-though the industry consensus is that pasteurization kills all the beneficial probiotics.Dave was born in 1978 in Beverly Hills, California, the USA, as the youngest of 3 sons to Laraine Dave and Michael Dave. The founders, a young couple, seem no less passionate about their product and its benefits than GT is about his, but they have no qualms showing me how they force carbonate their drink after it ferments-a practice GT shuns. When I visit Kosmic's headquarters, their product is fermenting in 50-gallon blue plastic barrels, not the small vessels that GT insists on. Complicating matters is that GT's new competitors don't necessarily hew to the same rules he does, and the easier ways to make kombucha are fast becoming the norm. For instance, Kosmic Kombucha, a four-year-old startup in Austin, recently got a financial boost from Whole Foods' Local Producer Loan program, and is using those funds to expand. He has helped spawn a lot of competitors." In its quest to feature regional brands in its stores, Whole Foods is literally funding GT's competition.
"GT still has the best-selling brand in the category, but his growth has tailed off. "We're seeing a surge of local production," says Errol Schweizer, the global grocery coordinator at Whole Foods.
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