Rich Energy

[Richard C]

Originally Posted by crmalcolm

Maybe Rich Energy have brought on this criticism through the way they have conducted their activities - but lets reserve our criticism for those matters we have knowledge of, and not the unknowns (this isn't pointed at you - but at some who seem to hold Rich Energy to a different standard to other F1 'sponsors').

I think your points are fair. But again even to the area you are talking about (Rich Energy's strategy). We clearly are not privy to that, but we can watch how they go about it and try to infer what their strategy is.

Lets look again as Huski Chocolate. I frankly know little about them. But if I look at their website, and social media. My quick examination is that they are focused on a specific market segment for their product (a chocolate drink for adventures). They are not trying to take on "Big Chocolate". They are not some small dog barking loudly at the big dog. They are not calling out Nestle, Hersey, Mars, etc. and talking smack about the big guys product. They are instead focusing on a specific market, and their product.

In the end, we (most consumers and specifically F1 fans) can only go upon what we see and are able to experience with respect to Rich Energy. There is the already discussed crazy history of Rich Energy and William Storey. The other half is the product itself. Which is at best difficult to obtain at best, but you can find it if you look (mostly online). But in the end, when you compare yourself favorably to someone like Red Bull, then you open yourself to criticism against all areas in which Red Bull play. If you say "Rich Energy is greater than Red Bull", then people start doing the math and point out where they are not (which is easy to do.)

Richard

[Richard C]

Originally Posted by crmalcolm

CEO caring more about his own ego - plenty of CEOs are ego-driven, is the same criticism thrown at Musk et al?

Is that a serious question about the ego centric CEOs like Musk (Larry Ellison is another good example) ? Clearly they get plenty of grief. They also have plenty of success to balance it out.

Richard

[Moneyseeker]

Originally Posted by crmalcolm

I'm with you on questioning some of their previous activities.

The Haas sponsorship saga was carried out in public, so as interested F1 observers comment is inevitable.

Whyte Bikes logo plagiarism - again, something that occurred in the public domain and open for comment/criticism (it should be pointed out that this logo had been sub-contracted to Sean Kelly of Staxoweb Limited, so not entirely Storey's fault).

Seemingly random tweets, and a less than professional portrayal again can be critiqued.

My issue lies with those who question their business plans, or use a lack of product in their local grocer as being grounds to assume that Rich Energy will not amount to much. In this area, they appear not too dissimilar to Huski Chocolate.

Maybe Rich Energy have brought on this criticism through the way they have conducted their activities - but lets reserve our criticism for those matters we have knowledge of, and not the unknowns (this isn't pointed at you - but at some who seem to hold Rich Energy to a different standard to other F1 'sponsors').

What puzzles me is that as an FMCG brand, this is all about distribution and volume sales and as we have seen, their US distributor looks a very small operation, their Malta distributor seems only to be a facebook page that is not updated and their Dutch distributor seems to be a small drinks distributor in small lock up unit on a trading. Yet WS tells u s in his videos that millions of consumer worldwide are enjoying RE?

I am no marketing guru at all, but I would imagine that if you are going to invest many millions into a global sport as marketing, you would have all the worldwide distribution in place first, surely?

[Richard C]

Originally Posted by Moneyseeker

What puzzles me is that as an FMCG brand, this is all about distribution and volume sales and as we have seen, their US distributor looks a very small operation, their Malta distributor seems only to be a facebook page that is not updated and their Dutch distributor seems to be a small drinks distributor in small lock up unit on a trading. Yet WS tells u s in his videos that millions of consumer worldwide are enjoying RE?

I am no marketing guru at all, but I would imagine that if you are going to invest many millions into a global sport as marketing, you would have all the worldwide distribution in place first, surely?

You mention the US distributor. I don't know if I have the right site or not (because as best as I can tell there is no link from the main RE site). But I think it is this...

https://www.richenergy.us/

Which to me looks like it hasn't been updated since early 2019, has empty pages, pages with 404 message and also extensively uses the old/Whyte Bikes logo. Maybe it's abandoned. Maybe it was never really part of Rich Energy (if so, they would be wise to try to take it down). But it looks like the real deal, but is also not updated and pretty much non-functional. Which to me speaks to the legitimacy and professionalism of the business. I get "start small", but don't bite off more than you can chew.

Richard

[midgetman]

Originally Posted by Moneyseeker

I am no marketing guru at all, but I would imagine that if you are going to invest many millions into a global sport as marketing, you would have all the worldwide distribution in place first, surely?

Well I'm not exactly a guru but it is my only professional qualification, so I do have some ideas.

Like people have said above, there may be trade distribution network we're not aware of. However.....

Any marketer will tell you that the web site these days is an important tool. Get it wrong and you look stupid - and Google won't rank your site if it has broken links/404 pages/isn't kept up to date. Therefore it would appear WS is making no attempt to properly market the brand to either FMCG or trade. The irony is that while it's really easy to make an amateur one man band look global with a decent (and relatively cheap) web site, it takes a special kind of skill to make a brand with global pretensions look like an amateur one man band.

To my mind there's only one reason a team desperate for cash would terminate its agreement with a sponsor, and that's because the money didn't come through. It's always money in the cash hungry world of motor racing, follow the money.

All of which leaves me to reiterate that I'm sure Brand Storey is more important than Brand Rich Energy - RE is only a medium to promote WS. And meetings with the Princes and Prelates of F1, huge social media followings and delusions of grandeur are what he's looking for.

Sent from my AC2003 using Tapatalk

[bjohnsonsmith]

The .com website is up and running with no 404 pages. Apart from being able to buy the drink from their online shop, they also have a trade page, https://www.richenergy.trade/ where it looks like one can sign up with Rich Energy as either an independent retailer, hospitality partner or medium to large retailer.There is also a link to a company called Needll, who are a verified supplier. https://needl.co/app/company/richenergy

[Richard C]

Originally Posted by bjohnsonsmith

The .com website is up and running with no 404 pages.

To be clear, I was referencing the link in my post as the topic was about US distributor (or what appears to be the US distributor).

The .com site has been updated semi-recently and looks quite nice and professional. However the online store is still very UK/Europe centric. The partnership links you provide above are steps in the right direction, but still clearly nascent.

Richard

[chillibowl]

Originally Posted by crmalcolm

-My inclination is Huski Chocolate is a way for someone to turn their personal expenses/pet projects/race car hobbies into tax deductions.

this for me although i would stress the tax benefits even more.

as such, i also accept crmalcolm's questioning of the assumption that we really dont know what the business model is for Rich Energy or for any business involved with F1 really.

given motorsports/F1's historical love of money from any and all disreputable sources combined with the current interconnected global culture, i'm surprised we dont see more businesses and so called 'social media influencers' taking advantage of the F1 platform.



as to the discussion of the merits of what Rich Energy's so called 'marketing' strategy is doing...

how readily available were cans of RB back when RB started throwing money around in sports/motorsports? i suspect any review of a can of RB back then yielded equally horrible comments about its taste and the products future.

granted RB was already an existing product just known by a different name and not originally available in the west, but i suspect the vast majority of motorsports fans became aware of the RB brand well before they ever came across their product in a store?

but now days, RB's is a multi multi billion dollar business and a major benefactor for sports teams and leagues around the world and i doubt many today would even question the positive effect RB has had on those sports.

personally i dont think Rich Energy will be that in 30-40 years time but who knows right? fake it til you make it!

[S griffin]

I think there is no doubt they are a dodgy company. The fact they are not being clear on what their business model means we have a right to question them

We’ve seen plenty of sponsors come and go over the years, but Rich Energy are just something else. How anyone can defend them, IDK. They have a CEO who has a narcissistic personality and they haven’t achieved anything remotely worthwhile

And you can’t compare them with Red Bull. Red Bull have had their difficulties, but they didn’t throw their toys out their pram in the early days when times were tough and the empire they’ve build has been through good leadership. Mr Mateschitz, say what you like about him, but he’s done so much with the company and has built it up from being just a drink product and deserves nothing but respect. His record speaks for itself, unlike Mr Storey who needs to use Twitter to big himself up

Rich Energy were always going to have it tough against popular energy drinks already on the market, but they then made it worse by being complete <insert own expletive here>. You mention drinks like Red Bull and Monster and 9 out of 10 people would have heard of them. But mention Rich Energy and 9 out of 10 people would probably draw a blank

[bjohnsonsmith]

Originally Posted by Richard Casto

To be clear, I was referencing the link in my post as the topic was about US distributor (or what appears to be the US distributor).

The .com site has been updated semi-recently and looks quite nice and professional. However the online store is still very UK/Europe centric. The partnership links you provide above are steps in the right direction, but still clearly nascent.

Richard

Are those partnership links recent? I hadn't been to the Rich Energy site until today.

[Aysedasi]

Originally Posted by chillibowl

how readily available were cans of RB back when RB started throwing money around in sports/motorsports? i suspect any review of a can of RB back then yielded equally horrible comments about its taste and the products future.

The irony being that it tastes as utterly disgusting now as it did then......

[chillibowl]

Originally Posted by Aysedasi

The irony being that it tastes as utterly disgusting now as it did then......

well the more things change...

[Richard C]

Originally Posted by bjohnsonsmith

Are those partnership links recent? I hadn't been to the Rich Energy site until today.

The racing sponsorships? No real clue. I have no reason to doubt them. I don't follow any of the series he is sponsoring. I have heard of OMG Racing (frankly only via previous RE sponsorship content)

Richard

[crmalcolm]

Originally Posted by chillibowl

personally i dont think Rich Energy will be that in 30-40 years time but who knows right? fake it til you make it!

It depends on how quickly we are going to pass judgment, and how much we are willing to let certain events of 'controversy' fade from our memory.

From initial release in 1976, Krating Daeng has risen and subsequently fallen in market share and is now estimated at being around 6% of the market share in Thailand. Maybe the fall can be attributed to Vorayuth "Boss" Yoovidhya's actions in 2012?

2014's class action law suits will also have done harm to RB's reputation. And it was a long time (1984 to 1995) from the company being formed to a real involvement in F1. We can compare Rich Energy with Red Bull - but a true comparison would be Red Bull in 1987, not 2021, compared to Rich Energy today.

Red Bull are also not alone in terminating deals with an F1 team abruptly. Recall the Enrique Bernoldi affair?

[Adam43]

So Red Bull waited until they had the wherewithal before seriously getting involved in F1. Then, when they could, sponsored (and paid) a team and drivers. Then bought a team or two keeping them in the sport. All while selling their cans in the millions.

And all with their own logo.

You have some controversy from Red Bull, but that’s over many many years. And not after such a short time in F1.

Someone thinking Rich Energy is a joke at this point in time seems quite a reasonable position!

If in 25 years this dude has two F1 teams, supporting the F1 grid, and loads of wins and championships then they will have achieved it. But there is no indication of that happening. Maybe you could have said the same back in the early days of Red Bull, but the chances of a repeat are practically zero.

The only indications we have from Rich Energy is them being an arse who is desperate to win on social media. Oh wait...

[Moneyseeker]

This is worth a read....from an interview with WS back in 2019.

https://jalopnik.com/what-you-find-w...ste-1833303620

Some highlights.

“We now have considerably in excess of eight figures in our bank account at any one time,” Storey said. “So, that snapshot from 2016, which was effectively a startup company at that stage, is really completely meaningless. That was almost before we were getting started.”



Storey said “hundreds” of individual pubs and nightclubs stock Rich Energy in the UK, and that it has distributors worldwide. He mentioned a U.S. distributor—an entrepreneur—who just got 5 million cans, and the distributor’s website lists it as selling Rich Energy in six locations in Indiana, four in Virginia and one in Pennsylvania. Of the three Jalopnik called, two confirmed that they stock it.

Storey told Jalopnik Rich Energy has sold more than 100 million cans since he started the company in 2015.

[Moneyseeker]

On a familiar theme of going for world title, etc..

Rich Energy target world titles in powerboat racing
Published on May 30, 2018
William Storey
William Storey
CEO at Wolf Data Systems
73 articles
Follow
As part of our push into elite motorsport we are investing in powerboat racing and a tie up with current P1 world champions Sam and Daisy Coleman. We will be targeting multiple world records and to win various series. This sits alongside our concurrent superbike and racecar investments and is a great addition to our motorsport portfolio

[Moneyseeker]

Dating back to 2017 - RE has been talking about huge volumes since then.

Rich Energy takes off with distribution deals in ten more countries
Published on November 22, 2017
William Storey
William Storey
CEO at Wolf Data Systems
73 articles
Follow
The UK's premium energy drink continues its rapid ascendancy with ten more countries signed up in an international distribution drive. With huge distribution growth and large volume increases in China, US and the Middle East , Rich Energy is demonstrating how to take on the status quo in an exceptionally competitive marketplace.

[mj088]

I happened to stumble on his awkward video announcing his comeback again this morning (a suggested by youtube)
What I keep thinking is, regardless what has happened this guy is just a sponsor, this isnt Eddie Jordan or Giancarlo Minardi or a real fan favourite saying they are pleased to announce they are coming back, why does he think people care? this is a shady sponsor who knows the motorsport public are lapping this up for his ego.
I do think he will be back this year, and I do think the stickers will stay all season on the Haas, but I still dont think you will see a can of Rich Energy or a bag of Wolf Jerky in the shops (they are only for exclusive night clubs remember)

[S griffin]

I just can't see him being welcomed back into the paddock with open arms. He's yet to prove anything, he's done nothing great of note. He seems to be completely disorganised, so I can't see him running a team like Jordan and Minardi did. He's just a chancer who seems to have too much self importance to see where he's wrong. The fact he didn't pay Haas and then left after so few races, shows he isn't to be taken seriously

I just hope he disappears with time, how many would be prepared to take a chance on him? I doubt Rich Energy are gonna get far in the energy drink market. And how many nightclubs will continue supplying the drink?

[mj088]

In honesty tho this wasnt the first and wasnt the last time a sponsor has stuck their name on an F1 car and lived the lifestyle in hospitality without paying, Storey has just made more of a performance out of it

[mj088]

Originally Posted by S griffin

And how many nightclubs will continue supplying the drink?

All the cool kids go to nightclubs for watered down redbull and strange beef jerky you know

[Aysedasi]

Originally Posted by mj088

All the cool kids go to nightclubs for watered down redbull and strange beef jerky you know

Is 'strange beef jerky' a euphemism for something distinctly illegal?

[mj088]

Originally Posted by Aysedasi

Is 'strange beef jerky' a euphemism for something distinctly illegal?

Dunno, nobody has ever seen it in real life only on William Storeys twitter 😂

[Moneyseeker]

Another strange thing is that WS tells us that RE is already a global business and by his various interviews has sold millions of cans. You cannot run a global business as one person, so where is his RE's 'team' - marketing, accounts, admin, etc.

As for WS himself, his twitter indicates he is a mix of a gambler - using his maths algorithim to bet on the horses (with the expected incredible returns..) or a self styled F1 pundit reviewing all the F1 teams.