Premium Luxury Tea
Charles & Company is an organic, luxury tea brand. It makes loose-leaf tea using what it calls a traditional English approach with “a bit of an American twist.”
Its products are blended with essential oils, exotic spices, and natural flavors, and are infused with hints of floral and fruity scents.
Charles & Company caters to high-end clientele at events like British Polo Matches and the Leonardo DiCaprio Foundation Gala. Its goal is to create a line of tea that’s synonymous with wealth and luxury.
The market for tea is massive. Global sales reach $90 billion annually, including $12.5 billion in the U.S.
According to the Tea Association, a website dedicated to the industry, nearly 4 out of 5 Americans drink tea on a regular basis. And according to BevNet, a company providing research on the beverage industry, younger consumers are demanding healthier, all-natural beverage options such as tea.
With demand on the rise, several large beverage companies have acquired tea brands to add to their portfolio of drinks. For example:
Starbucks acquired Teavana for $620 million…
Unilever acquired Tazo, a tea brand, for $384 million…
And Mighty Leaf Tea was acquired by Peet’s Coffee.
Yet as more consumers turn to tea as their beverage of choice, many are searching for a premium experience. Current options are designed for convenience and, as a result, are lesser quality. This presents a need for a high-end brand that focuses primarily on quality.
Charles & Company’s line of 13 teas caters to this need. Its flavors include White Blueberry Pomegranate, Coconut Chamomile, Passionfruit Jasmine, Indian Chai, and Creamy Earl Grey.
This company is already making a name for itself in the food & beverage industry. Famous chef Gordon Ramsay recently visited a rustic American-style restaurant in Calabasas, California that sells Charles & Company tea. Following the visit, one restaurant employee noted:
“We showed him everything the restaurant has to offer, but the only thing he raved about was the tea.”
Charles & Company generates sales by selling direct-to-consumers through its website. In addition, it sells wholesale to upscale restaurants in California and hotel chains including Four Seasons and Nobu Hotel. Wholesale profit margins range from 33% to 80% depending on the volume of product sold, and retail margins range from 70% to 90%.
Lawrence has extensive experience in areas including corporate strategy and marketing.
Before starting Charles & Company, he was an award-winning industrial designer and an Ernst & Young Entrepreneur of the Year nominee.
Throughout his career, he has participated in several business development programs, including the Tuck Diversity Business Program at Dartmouth University, and the University of Southern California’s Founder Bootcamp.
Lawrence was previously a sales consultant for a hair clipper manufacturer, and also did marketing for companies in the television and apparel industries.
He earned a degree in Industrial Design from the Art Institute of Pittsburgh.
Scott has experience launching and building startups.
He co-founded FastEvac, a mobile application to assist businesses with evacuations in the event of a disaster.
In addition, he helped scale Propaganda E-Liquid, a manufacturer of liquid for electronic cigarettes, and tripled its annual revenues during his tenure.
He earned an MBA from UCLA.