Liquid Death has appointed Ricky Khetarpaul, a former executive at PepsiCo, as the new finance chief for the thriving Los Angeles-based beverage company, which has successfully branched out from water into various drink categories. Khetarpaul expressed his enthusiasm for Liquid Death, praising it as an innovative beverage platform with a solid track record.
Since its establishment in 2017 by CEO Mike Cessario, Liquid Death has rapidly grown to a valuation of around $1.4 billion, renowned for its striking tallboy cans adorned with skeleton graphics, offering options such as water, sparkling water, and iced tea infused with fruit juice. The brand achieved impressive scanned sales exceeding $300 million in 2024 and boasts a remarkable compound annual growth rate of 380% since its launch. Recently, Liquid Death entered into a distribution partnership with Big Geyser in New York, further cementing its market presence.
Khetarpaul takes over the role from Karim Sadik-Khan, who joined Liquid Death as finance chief just a few months prior. Khetarpaul brings with him valuable experience from his previous roles, including CFO at Health-Ade and North America CFO for Lavazza, along with extensive financial expertise from his tenure at PepsiCo, where he managed a $5 billion beverage portfolio.
Addressing the challenges faced by consumer packaged goods (CPG) brands, Khetarpaul highlighted the importance of building strong consumer loyalty, something that Liquid Death has effectively achieved in a relatively short period. With over 70% of its customers being Gen Z and millennials, the brand has resonated well with younger audiences, partially due to its engaging marketing strategies. Cessario attributes this success to the company’s focus on entertainment-driven and social media-centric campaigns, boasting an impressive 14.5 million followers across platforms like TikTok and Instagram.
Khetarpaul’s vision as CFO emphasizes the role of finance in growth, rather than merely traditional financial management. He believes that Liquid Death’s marketing strategies effectively convert brand awareness into tangible sales, allowing for a strong return on investment. The company has also collaborated with celebrities and launched unique products, such as a limited-edition Fruity Pebbles-flavored sparkling water.
Looking ahead, Liquid Death plans to venture into the highly competitive energy drink market with a naturally caffeinated product set to launch in 2026. With Khetarpaul at the helm, alongside a dedicated team and a passionate customer base, Liquid Death stands poised to redefine its status as a multi-category beverage brand, continuing to innovate and disrupt the industry.