In a June Instagram video shot by Zac Efron, he is sleeping on the grass with his head resting on a checkered cushion. “Perhaps I do have commitment difficulties,” he admits to his co-star, a grizzly bear named Tank weighing 800 pounds. Later, he inquires, “Do you like pancakes or waffles?
Efron’s followers guessed what the advertisement was for in the comments section beneath the video. “Down to Earth Season 2?” someone inquired, adding legions of red heart emojis. A week later, it was revealed that Efron would be the new chief brand officer of Kodiak Cakes.
About Kodiak Cakes
According to PitchBook, Kodiak Cakes will reach annual sales of $200 million in 2020, making it one of the most well-known bakery brands in the United States. Kodiak Cakes was founded when current cofounder and CEO Joel Clark began selling homemade pancake mixes from a red wagon at the age of eight.
Over the years, the firm has expanded into numerous related sectors, such as oatmeal and nutrition bars, with the assistance of Sunrise Strategic Partners and Golub Capital. In a recent exclusive Zoom interview, Efron said he had been a longtime Kodiak fan, actively incorporating the brand’s products into his normal diet and exercise regimen, even during outdoor excursions.
“Kodiak Cakes is a phenomenal firm that provides comfort food prepared with high-quality ingredients,” he remarked. “I’m impressed by their efforts in wellness, animal preservation, and sustainability. It feels like purposeful food.”
Other celebrities promoting different brands
According to Statista, the influencer marketing sector will reach $13.8 billion by 2021, up from $1.7 billion in 2016. Megan Thee Stallion collaborated with Popeyes over the past year to produce her unique line of spicy sauces and products; her contract included a multi-franchise ownership agreement. Doja Cat has been given total creative freedom over her brand ambassador engagement with JBL speakers, a previously unheard-of deal.
Although Kanye West’s 10-year collaboration with Gap may revive the failing shop, he also has the right to demand that the Yeezy Gap Engineered by Balenciaga apparel line be sold out of garbage bags. After owning Aviation Gin, Ryan Reynolds actively participated in its day-to-day operations and creative direction.
Elizabeth Banks became co-owner and chief creative officer after collaborating with Archer Roose, one of the nation’s leading canned wine distributors. Similarly, the Zac Efron x Kodiak Cakes connection goes beyond a simple celebrity endorsement. Efron is dedicated to participating in initiatives and attending board meetings as a member of the company’s executive team.
Future growth outlook
Kodiak Cakes is in the midst of introducing a Cubs line for children, which will include frozen waffles and oatmeal, in an effort to compete with the increasing number of emerging better-for-you items hitting the center aisle.
With the addition of Efron, the firm intends to expand into more categories while maintaining its leadership in the core pancake mix market, where Kodiak Cakes is the number-two brand. Last year, Kodiak Cakes’ overall sales climbed by 20%, and Clark anticipates a quicker growth rate and considerably greater revenue by 2022.
