The first thing you think when it comes to Red Bull is probably adventure and adrenaline. That’s because the Austrian company, founded in 1987, invests every year millions of dollars to advertise sports brands, with particular attention to the most extreme.
The story of this multinational is quite unusual, and it all started from an unexpected discovery made by its founder Dietrich Mateschitz. While the Austrian entrepreneur was traveling Thailand in 1976, he tried Krating Daeng, a drink used by the working class to get more energy. This drink, created by Thai pharmacist Chaleo Yoovidhya, quickly became a hit in the “smile” land.
When the founder of Red Bull, Dietrich Mateschitz, was traveling Thailand, afflicted by a severe jet lag, he tried Yoovidhya’s beverage and felt immediately better. That’s when he decided to reach out to him to conclude a historic deal.
With the same ingredients but just the addition of carbon dioxide, the drink started to get sold in the Western world, and it became an immediate hit.
In May 2018, Forbes estimated that Red Bull is worth 10,4 billion dollars, and that same year the company sold over 6.5 billion cans of its product in over 171 countries.
Red Bull Mission Statement
Red Bull's mission statement is “giving wings to people and ideas.”
While the drink raised several health concerns for the high amount of caffeine and sugar in the past years, Red Bull's story, it's undoubtedly entrepreneurial. Its founder fought for bringing his vision of having a primarily adopted brand in such a competitive market, when, back then, it was necessary to create the whole industry of energy drinks from zero.
His intuition was correct, but the effort and energy necessary to realize his accomplishments are praiseworthy.
The same amount of energy of entrepreneurial ventures is required on a more physical level for sports, which require as well, concentration, stamina, and persistence.
Red Bull, though the range of sport initiatives that it sponsors, try to enable its vision of giving energy to the customers it serves.
Red Bull Vision Statement
Red Bull's vision statement is “to upholding Red Bull standards while maintaining the leadership position in the energy drinks category when delivering superior customer service in a highly efficient and profitable manner.
- Maintaining Red Bull Standards. Maintaining the company standards is as relevant as the mission statement previously outlined because it shows what the company stands for.
- Leadership. In its vision statement, Red Bull shows how much it cares to maintain the leadership position in the beverage market segment of energy drinks that it contributed to creating decades ago.
- “delivering superior customer service.” Superior attention to the customers it is an underlined element of its vision statement.
Red Bull Core Values
Red Bull's core values include “people, ideas, and culture.”
In their core values, Red Bull furtherly underlines how the people (their customers and those who participate in the events that they sponsor, as well as their employees) and ideas are what matters the most, making its mission statement resound. Paired with a winning culture, that as the vision statement shows, doesn’t stand for lower standards, these three core values are simple and direct but compelling to help Red Bull build their long-term vision.