The Business Model of Red Bull
Dietrich Mateschitz created the Red Bull recipe and launched the company Red Bull GmbH in the mid-1980s. Red Bull GmbH is a firm that produces energy drinks. Originally, Red Bull was inspired by Chaleo Yoovidhya's Krating Daeng, a Thai drink (Red Bull, 2013). Mateschitz then collaborated with Yoovidhya to re-create the cocktail for a Western audience. On April 1, 1987, Red Bull was first offered in Austria, launching an entirely new category of 'energy drink' in the beverage market. Since then, Red Bull has maintained its limited product line's success, and it has lately introduced additional drink versions with various flavors. It is now the world's most popular energy drink, with 7.9 million cans sold each year. Red Bull is also noted for its innovative marketing strategies and outstanding sponsorship in a variety of sports.