The Vita Coco Company Named Among Fast Company’s Brands That Matter in 2023
The Vita Coco Company is recognized for its social impact
NEW YORK, Oct. 03, 2023 – The Vita Coco Company (NASDAQ: COCO) (“Vita Coco” or the “Company”) today announced it was named to Fast Company’s Brands That Matter in 2023 list. The third annual list honors companies who have built cultural relevance and impact through compelling branding and efforts that naturally extend their presence into the community.
Mike Kirban, co-founder and executive chairman of The Vita Coco Company said, “We didn’t start Vita Coco because we wanted to build a ‘brand’ or even a beverage company. We did it so we could have fun and earn some extra travel money. But very early on, we realized that if we were going to succeed it meant that the people in our supply chain had to succeed too. So, this is really validating, because it means that as we’ve grown, we never lost sight of that ethos. It’s why we’re a Public Benefit Corporation and a certified B Corp. It’s why we started the Vita Coco Project and Seedlings for Sustainability. I’m so proud of the hard work of our team who has made sure we stayed true to who we are and what we’re about.”
Fast Company editors judged entries based on relevancy, cultural impact, ingenuity and business impact. The Company’s recognition can be found here.
In 2014, the company founded the Vita Coco Project to support the communities from which it sources its coconuts. The Company initially focused on supporting projects in the Philippines, and it announced the Vita Coco Project’s expansion to Brazil earlier this year. As part of the Vita Coco Project’s efforts to protect the livelihood of the farmers in its supply chain, the Company announced Seedlings for Sustainability, a commitment to distributing 10 million seedlings by 2030. To date, the Company has distributed more than 370,000 seedlings with its partners at HOPE, the Silvermill Foundation and the Arbor Day Foundation.
The recognition announced today comes after The Vita Coco Company reincorporated as a Public Benefit Corporation (“PBC”) in July 2021. In connection with registering as a PBC, the Company stated its public interest mission, is defining a purpose for the Company beyond maximizing profit for stockholders which is “harnessing, while protecting, nature’s resources for the betterment of the world and its inhabitants by creating ethical, sustainable, better-for-you beverages and consumer products that uplift communities and do right by the planet.”
Additionally, in December 2021, the Company became B Corp Certified. The B Corp certification is administered by the nonprofit B Lab and measures a company’s social and environmental performance. To become a Certified B Corporation, companies undergo a rigorous review of the impact of their operations and business model on their workers, customers, communities and environment, and must meet a minimum verified score on the B Impact Assessment.
To learn more about Vita Coco, visit vitacoco.com. You can also connect with Vita Coco on Twitter, Instagram, and TikTok.
ABOUT THE VITA COCO COMPANY
The Vita Coco Company, Inc. was co-founded in 2004 by Michael Kirban and Ira Liran. Pioneers in the functional beverage category, The Vita Coco Company’s brands include the leading coconut water, Vita Coco; clean energy drink, Runa; sustainable enhanced water, Ever & Ever; and protein-infused water, PWR LIFT. With its ability to harness the power of people and plants, and balance purpose and profit, The Vita Coco Company has created a modern beverage platform built for current and future generations. The Vita Coco Company, Inc. is a certified B Corp™ and is incorporated as a Public Benefit Corporation.