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The big winner at Milken this year? Saratoga's viral water bottle.

Michael Arougheti
Speakers like Michael Arougheti, the CEO of Ares Management, shared the stage with Saratoga water bottles at the Milken Institute Global Conference.

Mike Blake/REUTERS

  • Saratoga Spring Water, in its distinct blue glass bottle, was everywhere at the Milken conference.
  • The brand went viral earlier this year because of influencer Ashton Hall.
  • The CEO of the brand's holding company spoke at the power-player-packed conference.

Last spring, billionaire Michael Arougheti had two light beers in hand and a good reason to celebrate β€” he had just become the co-owner of the Baltimore Orioles.

Arougheti, the CEO of investment manager Ares, was in Pickles Pub, a popular bar for fans near the team's iconic stadium, offering to buy everyone a beer.

The short video of a joyous Arougheti in Pickles was played Tuesday to the amusement of his fellow panelists, Todd Boehly and Michael Milken, at the latter's namesake global conference. Milken, a big healthcare donor who George Washington University's public health school is named after, had one critique.

"We're going to try and give you more healthy things to hold up," Milken said.

After spending three days traipsing around the ritzy Beverly Hills hotel where the conference is held, it was pretty obvious what that drink would be: Saratoga Spring Water.

The glass blue bottles β€” a 24-pack of 12-ounce bottles costs more than $40 on Amazon β€” were omnipresent during the conference, with tables laden with them around every corner. Panelists, including Boehly and Arougheti, sipped them onstage. Hotel employees clearing trash cans in common areas sometimes needed backup to get the glass-filled utility trash bags out of their containers.

A hotel staff member moving boxes of Saratoga water on a luggage trolley.
Hotel staff used luggage trolleys to move boxes of Saratoga water.

Bradley Saacks

The brand, which is a part of the beverage conglomerate Primo Brands, went viral earlier this year thanks to influencer Ashton Hall, whose alleged morning routine includes dunking his face into a bowl filled with several bottles of the distilled spring water. The company's chief marketing officer previously told Business Insider that Hall's use of their product was not an ad, but they were enjoying the attention nonetheless.

Hall's TikToks didn't come up during the conference, but the conglomerate's CEO, Robbert Rietbroek, spoke on a panel at Milken. CNBC anchor Sara Eisen introduced him by noting that "we're all drinking his waters."

Rietbroek said, "Our mission is to hydrate a healthy America," and that the decrease in alcohol consumption has given Saratoga a boost, he said, sitting next to a small side table with several of his "beautiful blue bottles" on it.

"We're seeing an expansion of bottled water through the first quarter of this year," he said, despite economic worries.

He said consumers are on the hunt "for alternate drinks," but at Milken, they were the house pour.

Read the original article on Business Insider

'Pinterest is where Gen Z goes to shop,' says platform's CEO

Bill Ready Pinterest CEO speaking at conference
Gen Z is Pinterest's largest and fastest-growing user base, says CEO.

Patrick T. Fallon/AFP via Getty Images

  • "Pinterest is where Gen Z goes to shop," CEO Bill Ready said on Pinterest's Q1 earnings call.
  • Gen Z has been "raised on an internet of visual content" and likes to search visually, he added.
  • Pinterest reported that revenue rose 16% in Q1, sending stock up as much as 18% after hours.

Millennials had the mall. Gen Z has Pinterest.

On its first-quarter earnings call on Thursday, Pinterest's CEO, Bill Ready, said Gen Z users are engaging heavily with the image-sharing platform. Gen Z are those who were born between 1996 and 2010.

"We've made Pinterest a destination for our users, particularly a shopping destination," Ready said on the call. "Pinterest is where Gen Z goes to shop."

Ready said that a key driver of Pinterest's success is its ability to connect users to products and aesthetics "they may not have the words to describe."

"This is especially relevant for Gen Z, our largest and fastest-growing user cohort, who have been raised on an internet of visual content," and like to search visually, the CEO said.

Pinterest execs also touted Gen Z in examples of how advertisers are finding value on their platform.

Chief financial officer Julia Donnelly said advertisers valued Pinterest's insights into consumer behaviour, especially for Gen Z users who are making "significant" decisions such as selecting insurance or a credit card for the first time. The CEO highlighted PacSun, a clothing brand he said was popular with Gen Z, and said the retailer saw a higher return on ad spending with new Pinterest features.

The company's first-quarter revenue grew 16% to $855 million compared to the same period last year. Monthly average users, an important metric for media companies, grew 10% year-on-year.

AI also played a role in the company's strong quarter. Ready said Pinterest has been using AI to personalize user experience and to improve the platform's visual search capabilities.

"It also makes us a highly valuable partner to advertisers that are looking for early signals on how consumer trends may be shifting before it shows up in traditional purchasing data," he said of AI.

Pinterest stock jumped as much as 18% after-hours on Thursday on the heels of encouraging second-quarter guidance.

Pinterest, which is most popular for searching travel, style, and home decor ideas, saw a slowdown in user growth post-pandemic. It has since rebounded due to increased focus on shoppability and engagement from Gen Z users.

Gen Z, most of whom are in their 20s, has a reputation for taking their life and careers slow. Some research shows members of this generation are not drinking, driving, working, or taking risks as much as other age groups did at their age.

In addition to Pinterest, Gen Z is being credited for the revival of the image-blogging platform Tumblr, which reported that 50% of its active monthly users in 2025 are Gen Zers.

When it comes to their shopping habits, Gen Z is often associated with "underconsumption core," a trend that's all about buying less and rejecting influencer marketing.

Pinterest did not immediately respond to a request for comment from BI.

Read the original article on Business Insider

Leah In 'Juno' 'Memba Her?!

American actress Olivia Thirlby was 20 years old when she was cast to play Leah -- the quirky cheerleader who offers advice to her bestie Juno during her teen pregnancy -- in the romantic comedy "Juno" back in 2007. Olivia shared the big screen…
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