Rritual is a private company founded in 2019, whose declared purpose is to help people meet the demands of modern life with style and ease by incorporating functional mushrooms, adaptogens, and superfoods into people's diet.
The company manufactures premium plant-based products such as small-batch elixir powders, and each product features mindfully-selected medicinal mushrooms and adaptogenic herbs. Pursuing customers with various need-states, Rritual offers products that fit every lifestyle.
Rritual recently announced the launch of its suite of premium functional mushroom and adaptogenic elixirs. These elixirs are developed by a leading team of scientists, doctors, and experts across the wellness industry, under the guidance of Rritual President, Dr. Mike Hart.
The initial product line includes:
• Chaga (immune booster) – Full of bioactive polysaccharides, Rritual’s Chaga blend combines the Chaga mushroom with Eleuthero root for optimal immune system benefits.
• Lion’s Mane (brain booster) – For supportive cognitive function can brain health, Lion’s Mane is paired with Rhodiola root. The elixir can also help the body manage stress.
• Reishi (stress support) – Rich in polysaccharides, triterpenes, amino acids, and fatty acids, the Reishi blend is infused with Ashwagandha root. These allow the body and mind to fight anxiety, with long term effects that may improve the quality of sleep for those with restless minds.
"The health and wellness benefits of mushrooms and plant-based therapies are backed by decades of scientific research. Rritual's new line of elixirs embraces that research and provides consumers with an easy way to get a daily dose of the powerful effects," Dr. Hart said.
According to Rritual CEO David Kerbel, the company is proud to bring together age-old mushroom consumption practices with data-backed research to create new formulas that meet the needs of modern consumers. "Whether to relieve stress, increase mental output or boost immunity, we want to be a trusted and effective component of a consumer's daily health and wellness routine."
According to its investor presentation, Rritual has already fulfilled most of the milestones it set for Q1 and Q2 as part of its growth and development timeline. So far, the company has completed formulation R&D, product line development, test marketing, brand development, logistics partnerships and agreements, initial distributor partnerships, seed financing, and the phase one launch of its product suite. The company is setting its eyes on a large brand-launch financing.
The company’s strategy for rollout success consists of direct-to-consumer sales through the use of multiple online platforms and through team connections to facilitate a rapid expansion to the market.
In the first stage, Rritual will use its own website and Amazon to facilitate the D2C initiative, followed by leveraging its team connections to sell products through planned specialty e-commerce channels such as Costco, CVS, Walmart, and Vitacost using preexisting relationships.
Using the partnerships already in place with The Jet Collective and the preexisting connections through the team for direct discussions with global retail brands, Rritual’s brick-and-mortar strategy is a two-stage rollout that targets 15 leading retailers.
In the first stage, Rritual aims to launch with four non-competing chains, while utilizing best practice agreements (Sprouts – 320 stores, HEB – 330 stores, Meijer – 240 stores, and Publix – 1600 stores). In stage 2, distribution will advance to additional retail establishments (Wegmans – 100 stores, Fresh Thyme – 77 stores, Whole Foods – 440 stores, Shaw’s – 120 stores, Stop & Shop – 400 stores, Shoprite/Wakefern – 300 stores, Vitamin Shoppe – 610 stores, Bartels Drug – 90 stores, Giant Eagle – 40 market district stores, Target – 1800 stores), while collaboration with Kroger will take place within two sub-markets (Ralphs – 300 stores and Harris Teeter – 120 stores).
As it is yet in its early stages, the functional mushrooms market is rife with opportunities for growth, with the right brand leader in the driver seat. At this time, no dominant brand is in place, especially with the absence of a premium brand to lead.
The entire functional food market is currently over $275 billion, with global shifts that support wellness with a 7.9% CAGR growth to 2025. The demand for functional mushrooms is growing, with a forecasted rise from $23 billion to $34 billion by 2024, as a result of the growing popularity of this superfood due to unique properties that boost immunity, cognitive function and more. The worldwide functional mushroom market is projected to exceed $50 billion by 2025, as recent data indicates an increase in demand for key mushroom varieties of up to 800%.
David Kerbel CPC is CEO of Rritual and has over 30 years of senior experience in retail, brokerage, and the CPG industries. He has cultivated strong relationships with some industry leaders, including Walmart, Costco, Kroger, Walgreens, CVS, 7-11, Safeway, Publix, Sprouts, and more.
Experience from Celsius Beverages:
• Grew sales from $400K to multimillion in retail sales
• Developed nationwide representation with CROSSMARK, INC.
• Negotiated and achieved nationwide distribution at 7-11 retail outlets (corporate and franchise).
• Delivered new distribution with Roundy’s within first week of employment.
• Within first six months of employment established distribution at Ralph’s, C&S, Costco, BJ’s Wholesale, CVS, Walgreen’s, Walmart, Rite Aid, Target, Duane Reade and Stop & Shop.
• Total new distribution from direct efforts led to $36M in incremental sales in 2010.
• Managed and implemented improvement procedures for distribution and forecasting leading to 10% reduction in operating expenses.
Warren Spence is the COO and Director for Rritual. He has over 25 years in the food and beverage industry. His roles within the industry have included senior positions with brands like Red Bull and Olivieri. His specialization is in supply chain and operations systems. He was appointed Head of Supply Chain for Nude Beverages in 2019.
Dr. Mike Hart, MD, is the President of Rritual. He published in peer-review journals about therapies involving cannabis and ketamine. His outspoken stance on these subjects has landed him an appearance on the Joe Rogan Experience Podcast. On-air he discussed the use of psychedelic medicines as treatment for mental health conditions, including PTSD.
Stacie Gillespie is CCO and Director of Formulations. She has over 25 years of leadership in the brand and product strategies used by wellness companies. She has used her expertise in companies such as Aura Cacia, MegaFood, and Gaia Herbs. She is the creator of multiple consumer health products that are award-winning.
Sarton Molnar-Fenton is Vice President of Sales-USA. She started her career with Vitamin Water with other large companies under her belt, including Danone, as a District Manager. She worked with Nestle on their Tribe Hummus brand. She was an integral part of relaunching, gaining category share, and working on partnerships with companies like Trader Joes. She also helped with launching the Hydralyte brand in the United States.
Scott Naccarrato is Vice President of Sales-Canada. He is experienced in sales with a deep connection in retail. Recently he worked with Nutiva, assisting in the pioneering of Organic MCT oil, healthy fats, and the plant-based protein categories. He is data-oriented in his approach, which has resulted in over $100 million in sales and double-digit YOY growth for those brands he has been a part of.
• Rritual’s recent suite of premium functional mushroom and adaptogenic elixirs is designed to offer various health benefits, such as increased immunity, cognitive function, stress management, and more.
• Products are expected to be available online through Rritual’s site and on Amazon by fall 2020.
• The Rritual team has extensive ties and influential relationships with leading retail businesses, providing a wide market for growth.
• The functional mushroom industry has no clear and dominant leader, allowing Rritual to take this role with its premium products. Rritual is currently the only premium brand on the market.
• The global functional mushroom market is expected to exceed $50 billion by 2025, putting Rritual in the position for success.
• Functional mushroom demand is growing and is expected to rise from $23 billion to $34 billion by 2024.