Oat milk giant Oatly has seen its quarterly revenues soar amid surging demand for dairy alternatives.
The Swedish group, which is the world’s biggest producer of oat milk, hailed a “transformational year” as it reportedly struggled to keep up with demand.
It comes as the $10 billion business was labelled a “bully” during a trademark battle with a Nottingham firm.
According to The Times, Oatly revenue increased by 53.3 per cent to $146.2 million in the three months to June 30.
Annual revenue is expected to exceed $690 million, soaring by around 64 per cent.
However, net losses widened by over $50 million, which Oatly attributed to compensation costs, investment, and charges from its initial public offering in May.
The company hit the headlines this month when it lost a claim against family firm Glebe Farm Foods.
Oatly argued the Cambridge business’ “PureOaty” drink took advantage of their brand, but the judge ruled the resemblance was “very general”.
Glebe Farm co-owner Philip Rayner said the decision showed “smaller independent companies can fight back and win”.
Oatly launched another trademark assault this week as it took on The Skinny Food Co.
It opposed the syrup seller’s attempt to copyright the term “Skinny Barista”, having applied to trademark “Barista” itself.
A request to the European Union Intellectual Property Office to consider whether “Barista” is a registrable trademark is still pending.
Skinny Food boss Wayne Starkey said he was surprised by Oatly’s “big boy bully tactics”.
“We are a healthy alternative food brand with no oat milk-based products of our own, so why would they want to come for us?” Starkey said.
“It seems really corporate and aggressive.”
A spokesman for Oatly said it had “in no way stopped Skinny Food from using Skinny Barista, but only questioned their registration until it is decided if ‘Barista’ is possible to trademark or not.”
“This is a completely administrative process and is not a court matter,” he continued.