Abigail Forsyth and KeepCup: riding a green wave to profits
KeepCup’s sustainable branding captured the public mood about the environmental costs of disposable cups.
Abigail Forsyth struggled to get a hearing when she first came up with the idea of starting a business making reusable cups. “This is the stupidest idea I’ve ever seen,” said one designer she approached. “This is just a cup,” said a confused potential manufacturer. That was in Melbourne, Australia, in 2008, says Michelle Meehan on the BBC. Now, total worldwide sales at KeepCup have hit ten million.
KeepCup’s sustainable branding turned out to be cleverer than it seemed and it was able to ride a wave when concern spread about the environmental costs of disposable cups. The company produces and distributes reusable plastic and glass cups for sale around the world, and eventually aims to replace the single-use cardboard receptacles we had until recently taken for granted. But sustainability was never going to be enough – the product had “got to be sexy” if it was going to appeal to customers. From the beginning, it was “all about the design”, she says. “People were saying, ‘I don’t even know what it is, but I want one’.”
Sales have grown steadily over the years, thanks to word of mouth, and the firm’s annual revenues are now reported to be more than A$8m (£4m). The growth has been organic, not needing any outside investors, and in keeping with the firm’s green credentials, manufacturing is completed locally in the firm’s two main markets, Australia and the UK. The business has been hit by the coronavirus crisis, but Forsyth is confident she can bounce back. KeepCup will one day, she says, be seen as the business “that kick-started the demise of the disposable cup”.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
Nic studied for a BA in journalism at Cardiff University, and has an MA in magazine journalism from City University. She joined MoneyWeek in 2019.
-
How did emerging markets perform in 2024?
Emerging markets underperformed their developed counterparts in 2024, but there are signs of recovery. We look at the biggest winners and losers of 2024, and the key trends shaping these markets
By Alex Rankine Published
-
How much stamp duty will I pay in 2025?
Stamp duty thresholds will revert to their original levels in April, which could add thousands to the cost of moving house. How much stamp duty will you have to pay in 2025?
By Katie Williams Published
-
Justin Sun: China’s revolutionary crypto visionary
Justin Sun, founder of the Tron blockchain and cryptocurrency made his fortune young from bitcoin trades. Now he wants to change the world
By Jane Lewis Published
-
Rouble hits two-year low against the dollar – what does it mean for Russia's economy?
New US sanctions have plunged the rouble to its lowest level since 2022. Why are investors spooked and how will this affect Putin's economy?
By Alex Rankine Published
-
Henry Keswick: the plutocrat who fell for China
Profile Henry Keswick, a scion of the Jardine Matheson trading company, rebuilt the firm's fortunes after the upheavals of the 1990s. He died aged 86.
By Jane Lewis Published
-
Has Javier Milei succeeded in transforming Argentina's economy?
Javier Milei won an election last year on an “anarcho-capitalist” platform, promising to take a chainsaw to the overbearing and bloated state. How’s it going?
By Simon Wilson Published
-
Brazil booms – but why do investors remain wary?
Brazil is booming, but you wouldn’t think so from looking at the stock market. What's behind the market paranoia?
By Alex Rankine Published
-
Elon Musk enters the White House – what happens now?
Elon Musk has achieved the seemingly impossible many times before in the business world. But will he be able to cut the US government down to size?
By Jane Lewis Published
-
Do we need central banks, or is it time to privatise money?
Analysis Free banking is one alternative to central banks, but would switching to a radical new system be worth the risk?
By Stuart Watkins Published
-
How to improve economic output using the supply-side approach
Boosting potential economic output through public investment is crucial, says David C. Stevenson
By David C. Stevenson Published