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Issue link: http://digital.canadawide.com/i/1501233
SOURCES: GOVERNMENT OF BC, CRAFT DISTILLERS OF BRITISH COLUMBIA, STATISTICS CANADA, BACKBAR, IPSOS G O F I G U R E JULY/AUGUST 2023 BCBUSINESS.CA 19 Board Meeting Can a Vancouver company redefine watersports? By Nathan Caddell R E C R E AT ION B rothers Matt, Justin and Gareth Schroenn grew up in the surfing town of Durban, South Africa, and were a little disappointed when they came to Vancouver and found a lack of waves. "We got into paddleboard- ing and kayaking and love those things," says Matt Schroenn, "but for us, we al- ways wanted to actually, physi- cally be in the water." Schroenn and his brothers lived in tiny West End apart- ments and didn't have space for larger boards. So, about eight years ago, they started tinker- ing with the idea of designing something small and light that they could swim on. "We head- ed off to Home Depot, turned our apartments into workshops and started carving," Schroenn laughs. "We had no experience; we were making fibreglass moulds in our baking bowls." The three brothers—a bar manager, a chef and a landscaper—tried over a dozen prototypes before landing on one they thought would work; in the end, they wrote and paid for 49 provisional patents that cover the product over a large portion of the world. Next up was an appearance on Dragons' Den. The product— which has since rebranded from Zambezi Board to Swmbrd—coaxed an offer of a $200,000 investment for 20 percent of the company out of Michael Wekerle. "Reality is different than TV," says Schroenn. "We go backstage and they want to do an audit on us. An audit? We have no financials—we have receipts from Home Depot in a shoebox in the corner of a bed- room." Eventually, the trio re- ceived some angel investment from a slew of junior mining executives and became listed on the CSE a year ago. The boards, made in France, are three-foot-two and weigh 8.7 pounds, and have been used by lifeguards to monitor Ironman competitions in Athens. "Most watersports are surf- centric—even paddleboarding is," says Schroenn. "But the majority of the market is actu- ally in flatwater. Most people don't surf—the equipment is big and heavy, and it doesn't ap- peal to the larger demographic, including kids." The main component of Swmbrd, says Schroenn, is actually just swimming: "It's a full-body workout. The board isn't flat, your core and legs are constantly engaged. But unlike with swimming, you go into the water and you can actually talk to your buddy or look at the beautiful scenery." The boards just became available to the public and are selling for $575 a pop. Asked how much he has on the line with this, Schroenn doesn't hesitate. "Just my whole life. But we invented it for us, and I think there's millions and mil- lions of people just like me." £ WAKE UP The Vancouver-based Schroenn brothers (Matt, Justin and Gareth) are making waves with Swmbrd: a lighter, more portable surfboard alternative made for swimming MARKET SHARE OF SPIRITS IN B.C. The volume of gin sales in Canada rose 81.8% between 2011 and 2021 BRITISH COLUMBIANS PURCHASED 6.8 LITRES OF SPIRITS PER CAPITA IN 2022, AT A VALUE OF $233.10 INCREASE IN PER CAPITA SPIRITS SALES IN B.C. BETWEEN 2017 AND 2022: 6.2% BY VOLUME 12.6% BY COST INCREASE IN BOTTLED/CANNED CIDERS, COOLERS AND HARD SELTZERS: 71.4% BY VOLUME 91.4% BY COST Nationally, Canadians bought the equivalent of 2.6 shots of spirits per week in 2021 3/4 of BCers say they are unlikely to change their drinking habits after Health Canada reduced its alcohol consumption guidelines earlier this year 12% HAVE PARTICIPATED IN A "DRY MONTH" 18% NATIONAL SHARE Growth in national sales of non-alcoholic versions of traditional cocktails last year: 9% 29.5% WHISKY 26.8% VODKA 13.4% LIQUEUR 11.7% RUM 11.7% OTHER 6.8% GIN