Can Brewdog get ‘equity punks’ onside in bid to move on from James Watt?
Craft beer giant Brewdog has launched a reset under its American owners Tilray. Felix Armstrong explores whether the company can truly move on from James Watt Dessert-flavoured beer, provocative ad campaigns, waxy-mustached artisans – much about Brewdog’s long-anticipated reset feels familiar, as if the recently-collapsed craft brewer is really getting back to its roots. But [...]
Craft beer brand Brewdog has undergone a reset under its new American owners, Tilray. The company, co-founded by James Watt, has faced criticism from some of its earliest supporters, known as 'equity punks,' who feel uncomfortable with the direction the company is headed. Tilray, the U.S. cannabis and drinks maker that purchased Brewdog for £33 million in March, has invested £50 million in new beer flavours and a high-profile advertising campaign.
However, the 'equity punks' are not on board with Tilray's vision. They argue that the price of a pint is too high and that the company has strayed from its original craft beer philosophy. Despite the criticism, Tilray's CEO, Irwin Simon, is trying to win over the 'equity punks' by emphasizing the quality of the brand and the success of Brewdog's Waterloo pub.
Tilray has also offered perks to these former investors, such as reduced prices on Mondays and weekly discounts. However, some 'equity punks' remain loyal to co-founder James Watt, who has offered free stakes in his new ventures to these shareholders.
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