Prime: Logan Paul and KSI’s energy drink runs out of juice
Prime, the energy drink brand backed by Logan Paul and KSI, suffered a dramatic fall in its UK sales in 2024, it has been revealed.
New accounts for Prime Hydration’s UK arm show the firm’s turnover was slashed by more than 70 per cent from £112.2m to £32.8m in its latest financial year.
New accounts filed with Companies House have also revealed its pre-tax profit was cut from £4.3m to £940,458.
The results also show that Prime Hydration’s UK arm suffered a 85.4 per cent decrease in its gross profit, from £21.6m to £3.1m, while its net profit was slashed by 91.6 per cent to go from £3.7m to £312,393.
As a result of its falling sales, the London-based subsidiary said it had launched a strategic review to work out how to be sustainable in the future.
Prime was launched in the UK in June 2022, having first been available in the US from the January of that year.
There was considerable hype around the launch given the involvement in YouTubers Logan Paul and KSI in the business.
Prime launches strategic review
A statement signed off by the board said: “The company has had strong growth since entering the UK market in 2022, with the brand’s launch attracting considerable attention.
“Sales have grown significantly since entering the market until 2023.
“In 2024 the consumer interest has moderated and revenues have decreased.
“The company is now entering a strategic review process to transition from an initial hyper growth phase to a more sustainable, long-term presence in the market.”
On its future, Prime added: “As the company works on its transition to a phase of more sustainable, long-term presence in the market, it continues to launch new product lines and keeps innovating.
“The latest launch of the Prime Ice range in the beginning of 2025 is a testament to this.
“Additional product launches are scheduled for 2025 and beyond, with specific details currently under review.”