Lewis Hamilton Co-Owns Successful Side Business as $2.18 Trillion Target Set
Lewis Hamilton co-owns a successful side business as a target of $2.18 trillion is set.
The seven-time Formula 1 world champion may have had a difficult start to life at Ferrari since making the switch last summer, but his investments away from the track have been a greater success.
Back in 2023, Hamilton launched his own non-alcohol spirit brand named Almave. Working alongside a distiller called Ivan Saldana, they released the world's first non-alcoholic spirit made in Mexico with the blue agave plant from Jalisco, which is similar to tequila.
In Almave's initial press release, Hamilton made it clear that his motivation for the brand came from a personal conflict. Although he liked to drink tequila, it was incompatible with his life as an athlete.
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The drink's project received a boost in 2024, when they received further investment from Pernod Ricard, who purchased a minority stake.
The Paris-based drink conglomerate describe themselves as a 'world leader in premium international champagnes and spirits'.
Upon receiving the investment, Hamilton said: “When I decided to embark on this project it was important to me to find partners who could help me realize my vision without compromise.
"I am proud we were able to do that, not just in quality and taste but also with real ingredients and time-honoured techniques.
"Casa Lumbre has been best-in-class in the first part of this journey and I’m proud of what we have achieved together in such a small period of time."
Hamilton's investment into the non-alcohol drinks market looks to have been shrewd, with the global non-alcoholic drinks industry continuing to grow.
In 2023, it was worth an estimated $1.46 trillion, but that is forecast to rise and hit $2.18 trillion by 2030.
Hamilton is not the only athlete who has made the decision to invest into the beverage market.
Both Michael Jordan and Conor McGregror have already ventured into the industry. Back in 2019, Jordan co-founded the luxury brand Cincoro Tequila, along with other NBA team owners.
And in 2018 MMA star McGregor launched his own drinks brand called Proper No. Twelve Irish Whisky.
Three years later, the Irishman, alongside two other investors sold their stake within the company for an astonishing £503 million.
McGregor also launched Forged Irish Stout, a beer which is designed to rival Guinness.
Given the success that athletes have had within the beverage industry, it looks like it may be a smart investment from Hamilton.
Topics: Lewis Hamilton, Formula 1
James Taylor