Prime, the energy drink brand endorsed by Logan Paul and KSI, experienced a significant drop in its º£½ÇÊÓƵ sales in 2024, according to recent reports.
The latest financial statements for Prime Hydration's º£½ÇÊÓƵ division indicate a drastic reduction in turnover, plummeting over 70 per cent from £112.2m to just £32.8m in the most recent fiscal year, as reported by .
Documents submitted to Companies House also disclosed a substantial decrease in pre-tax profit, falling from £4.3m to £940,458.
Furthermore, the filings revealed that Prime Hydration's º£½ÇÊÓƵ operations saw an 85.4 per cent decline in gross profit, which tumbled from £21.6m to £3.1m, while net profit nosedived by 91.6 per cent from £3.7m to £312,393.
In light of the dwindling sales figures, the London-based subsidiary has initiated a strategic review to determine a sustainable path forward.
Prime made its º£½ÇÊÓƵ debut in June 2022 after initially launching in the US in January of the same year, with the involvement of YouTubers Logan Paul and KSI generating substantial buzz around the product.
Prime launches strategic review
A statement from the board read: "The company has had strong growth since entering the º£½ÇÊÓƵ market in 2022, with the brand's launch attracting considerable attention."
It continued: "Sales have grown significantly since entering the market until 2023."
However, it noted: "In 2024 the consumer interest has moderated and revenues have decreased."
"The company is now entering a strategic review process to transition from an initial hyper growth phase to a more sustainable, long-term presence in the market."
Speaking about the future of the company, Prime stated: "As the company works on its transition to a phase of more sustainable, long-term presence in the market, it continues to launch new product lines and keeps innovating."
"The latest launch of the Prime Ice range in the beginning of 2025 is a testament to this."
"Additional product launches are scheduled for 2025 and beyond, with specific details currently under review."
