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”.
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
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
Nic studied for a BA in journalism at Cardiff University, and has an MA in magazine journalism from City University. She has previously worked for MoneyWeek.
-
Investors should plan for an age of uncertainty and upheavalTectonic geopolitical and economic shifts are underway. Investors need to consider a range of tools when positioning portfolios to accommodate these changes
-
Investing in UK universities: spin research into profitsUK universities are a vital economic asset, but they are also Britain's 'equivalent of Gulf oil.' There are opportunities here for investors
-
Investing in UK universities: how to spin research into profitsUK universities are a vital economic asset, but they are also Britain's 'equivalent of Gulf oil.' There are opportunities here for investors
-
Lessons from Nobel Prize winners in economics on how to nurture a culture of growthThe Nobel Prize in economics went to three thinkers who show us why economies grow and how we can help them do so. Governments would be wise to heed the lessons
-
Yoshiaki Murakami: Japan’s original corporate raiderThe originator of Japanese activism, Yoshiaki Murakami, was disgraced by an insider-trading scandal in 2006. Now, he's back, shaking things up
-
Albert Einstein's first violin sells for £860,000 at auctionAlbert Einstein left his first violin behind as he escaped Nazi Germany. Last week, it became the most expensive instrument not owned by a concert violinist
-
Who is Rob Granieri, the mysterious billionaire leader of Jane Street?Profits at Jane Street have exploded, throwing billionaire Rob Granieri into the limelight. But it’s not just the firm’s success that is prompting scrutiny
-
David Ellison: America's new media mogulDavid Ellison is building a mighty new force in old and new media. Critics worry that he will prove to be a Trumpian patsy. Is that fair?
-
Alok Sama on AI and how to invest in the future of technologyInterview Alok Sama, the former president and chief financial officer of Masayoshi Son’s investment vehicle SoftBank Group International, explains AI’s potential
-
Pierre-Édouard Stérin wants to make France great againConservative billionaire Pierre-Édouard Stérin is seeking to lead a political and spiritual renaissance across the Channel. The planning looks meticulous
