Food Scientist, Rickard Oste founded Oatly in the 90s with his brother Bjorn Oste. The company was born in Southern Sweden where its headquarters remain. The brand became available in more than 20 countries throughout Europe and Asia.
Oatly spent £700,000 on advertising in the UK in 2018. They partnered with Alibaba ( (BABA) - Get Alibaba Group Holding Ltd. Sponsored ADR Report) in order to sell into the Chinese market. Oatly has been backed by a group of high-profile investors including Oprah and JayZ.
In 2021 Starbucks ( (SBUX) - Get Starbucks Corporation Report) released Oatly oat milk nationwide in the U.S. Sales of oat milk are expected to grow and reach $6.8 billion by 2026. Oat milk sales in the US recently jumped to approximately $304 million.
Oatly went public in May 2021. “I don’t see anyone else taking that leadership position the way we are.” CEO Toni Petersson | CNBC