Renowned for creating the UK’s first Cannabidiol (CBD) soft drink, Botanic Lab products are the European leader in CBD drinks, taking over the shelves of Waitrose, Selfridges, Holland & Barrett, Ocado, Co-Op and EAT. Successful female entrepreneur, Rebecca from London is set to talk at Retail Week Live on the growing popularity as CBD drinks as wellness products and how we are now in an era called ‘Cannabis 2.0’ which is how Cannabis is now an accepted, legal health food product.
Rebekah is speaking in a discussion called How to be a purpose led organisation at Retail Week Live which is happening on 7th – 8th October at Magazine London.
- Please tell us a bit about Botanic Lab and the products that you offer?
Botanic Lab is a functional drinks brand for the 21st century consumers. Where challenges like anxiety, stress and lack of sleep, impact our daily lives, Botanic Lab provide and small antidote to modern life (in a very slick package). Botanic Lab have pioneered the use of CBD and apoptogenic plants, launching the first CBD beverage in Europe back in 2018.
- Your website and marketing focuses on the importance of “rewriting the rulebook on stereotypical ‘health drinks’. What was the problem that you saw in what others might see as an already successful and saturated market?
‘Healthy products’ are so often marketed by making the consumer feel guilty or bad about themselves. We think our customers are great as they are. We just want to give them a tasty and interesting drink that gives them a little bit of help when they need it. They can trust us to get the basics right (no added sugar, low natural sugars, all natural ingredients) and then on top of that we want to give them a real layer of functional added value.
- What was the catalyst for you to take action, going from a city banker to setting up Botanic Lab?
The drinks industry has historically been dominated by a small number of very big businesses, stifling innovation and ultimately leaving the consumer with less choice. The health and wellness industry was gaining momentum and I felt that drinks that was an sector that was ripe for change.
- Did you have a clear idea of what you wanted to create from the outset or has that evolved as you’ve gone through the process?
It has very much evolved over time. Like with many brands, the first years are a process of experimentation and learning, understanding the industry and finding out what works and what doesn’t. When Botanic Lab launched our CBD beverage we really knew quite quickly that this was an area where we would excel.
- What were your initial steps in setting up the business… what did the first 12 months look like?
Lots of learning, mistakes, missteps, some lucky breaks and some set backs. Overall a process of exploration.
- As a city banker, did you already have contacts in terms of investors and stockists, or did you have to start from scratch? What did this process look like?
I had a the benefit of a very disciplined and formal business training but that doesn’t fully prepare you for the challenges and rigours of entrepreneurship. I had a better idea than some around how to deal with some of the financial matters but conversely I had no experience in consumer products or relationships with retail. It can be a messy process but also a time for creativity.
- Did you have a ‘eureka’ moment during the creation of the business, when you suddenly realised it was going to be a success?
I think the process of building and running a business is full of lots of ups and downs on an ongoing basis. When there is success you can never sit back and take it for granted. You always need to be thinking ahead.
- Who do you identify as your target customer?
Our customers are typically young, urban, curious individuals with a strong leaning towards health and wellbeing. They want more from their products. Flavour, function, provenance. With more young people shunning alcohol, we fill perfectly the gap that exists for interesting non-alc options.
- CBD features in your drinks; are you still finding that consumers need educating to what it is and its benefits? If so, how are you trying to combat this?
Awareness and knowledge of CBD has moved on significantly in the last 18 months, with our consumers now having much more recognition of it as an ingredient. There is still education needed and brands need to play a key role in this. We take a fun, brand first approach to this with campaigns like our recent CBD Virgin. It’s irreverent and fun, but with a thread of knowledge building and education.
- Do you think that CBD will continue to grow in popularity or is it at market saturation already, and something that might remain under the radar?
I think we are the very beginning. Although there is a lot of noise about CBD, distribution is still limited and brand recognition and presence is low. The next two years will be an exciting time.
- Who controls the marketing and promotion for Botanic Lab and have you seen a change in how you need to engage with customers since starting the business back in 2015?
We manage all of our marketing and promotion in house and have a great team delivering our campaigns. The brand is very personal to me and I’m very involved in the messaging and strategy. Since entering the CBD space the way we interact has had to shift dramatically, due to restrictions around advertising and paid content. Building community becomes an even bigger priority.
- You’ve gone out there with a really strong brand proposition, but have you always been so bold or have you experienced times of doubt in the process to setting up and building the business?
Our brand is very bold and in your face, but with some subtle and witty threads that run through it. Has Botanic Lab always been so bold? No, not from a brand perspective. The brand underwent a facelift that coincided with our move into CBD and now better reflects our rebellious approach to making drinks. Have I always been so bold? Of course not. Self doubt is a constant battle, and any entrepreneur would be lying if they said they didn’t experience it. The difference is whether you let it cripple you, or you push on and forwards.
- The past couple of years has seen a real movement to encourage women to take a more prominent role in business; be that entrepreneurs, board members, or CEOs. Going from the banking world, which is often male-dominated, how do you feel about the representation of women at the top?
It’s true that my career was in a very male-dominated industry that has, and continues to see, a male / female imbalance in representation. This is also the case in entrepreneurship where women founded businesses are significantly underfunded compared to male founded ventures. In some ways the problems are connected, where sources of venture funding are often controlled by men and the dynamics and processes favour male founders. There is still a way to go, however my view is that the best way forward is to provide positive examples to the next generation so that young women and girls have role model beyond the typical stereotypes. I should add that progress depends on men and women. I have been supported by some fantastic men who have believed in me and my abilities and provided me with the support that i needed to thrive. I think we also need to recognise that women don’t come in one mould. Sometimes the characteristics of an ambitious, driven female entrepreneur (who has to make tough decisions in the interest of the business) are not palatable to the broader narrative of what a female founder should look like.
- How important do you think it is for you to take the lead and empower other women?
I think it’s essential. Young women need to see that there isn’t one “type” of woman to aspire to be. They need to be able to identify with someone in a position of power and see the qualities that they possess in them. Where there is ambition and drive there is no limit to what can be achieved.
- What are the barriers we need to overcome to achieve a more even representation of men and women in business?
I think there are structural hurdles that still need to be overcome in terms of access to capital so that businesses that are built and led by women flourish rather than floundering from lack of funding. I also think we need to recognise that this isn’t a them versus us situation. Men and women have both an interest and a responsibility for creating more equal representation. From a purely practical perspective there aren’t enough women in positions or power to mentor the next generation of female leaders. Men must play their part to and reap the benefits in terms of opportunities for their daughters, wives and girlfriends but also the increased pool of skill and talent that is available to businesses.
In terms of your own business, how hands on are you? Do you have a team of experts leading on key areas like new product development and marketing, or do you prefer to do this yourself?
When it comes to my business, I have done absolutely every job at one point or another. I think that is an important part of understanding the industry and also being able to motivate my team. However, it’s not possible to scale a business like that and one of my key learning curves has been to focus my attention on the areas where I make a real difference and no one else can, and to hire good people that are experts in other areas.
With the past five years under your belt, what’s next for Botanic Lab; what do the next three years look like for you?
The next three years for us will be a time of brand building within the burgeoning CBD space. You will see new product innovation from us both in drinks and beyond and a real focus on consumer experience. It’s exciting time for cannabis consumer products. Expect us to be at the forefront of that.
- If money was no object, where would you take the brand and how would you do it?
My aim is to always think like money is no object and then find the resource to execute. For good operators and good ideas you can usually find capital.
- What are your top three pieces of advice for anyone wanting to start their own business?
It will be hard and it will be messy, but if you are resilient you can find a way through.
Success isn’t obtained overnight. It often takes years if unseen hard work and knocks.
Surround yourself with good people that know things that you don’t.
Rebekah is speaking at Retail Week Live which is happening on 7th – 8th October on How to be a purpose led organisation. Retail Week Live is the largest European gathering of retail leadership, innovators and entrepreneurs at disruptive startups, taking place over 48 hours at Magazine London. Founded in 1995, Retail Week Live brings together 200 world-class speakers from across retail and beyond to create the opportunity for industry’s leaders to take stock, find inspiration and reconnect with the sector. The show provides truly unique experiences, which enables attendees to see retail from an entirely new perspective.
