Iconic Tonics Assembles Heavyweight Advisory Board to Navigate Functional Beverage Regulation

Iconic Tonics has announced the formation of a strategic Advisory Board, recruiting a cadre of veteran executives from Diageo, PepsiCo, and Target to guide the company’s expansion. The move comes as the functional beverage sector prepares for a critical phase of regulatory maturation and mainstream retail adoption.

The company, which is building a "culturally driven" platform spanning non-alcoholic, botanical, adaptogenic, and cannabinoid-adjacent beverages, is positioning itself for longevity. This governance structure is designed to pair brand culture with the operational rigour required to navigate complex supply chains and compliance frameworks.

Navigating the 'Post-Hype' Regulatory Landscape

The appointment of the board coincides with a pivotal moment for the industry. With federal regulations regarding hemp-derived THC products potentially taking effect in November 2026 (with legislative efforts possibly extending to late 2028), the sector is shifting from a "hype cycle" to a phase defined by compliance and execution.

Recent category investments by major retailers such as Sprouts, Circle K, and Target signal that functional and THC-adjacent beverages are becoming permanent fixtures in the national assortment. Iconic Tonics aims to leverage its new advisors to capitalise on this durability.

Evan Eneman, Co-Founder & CEO of Iconic Tonics, stated:

"Our focus is on building this platform for longevity and scale. That means learning from people who have navigated everything from early-stage brand building to global beverage operations. We build brands from the culture out, and having advisors who understand how to protect that culture while building real infrastructure is critical."

The Advisory Board: over 100 Years of Combined Experience

The newly formed board brings deep cross-functional expertise across commercial strategy, M&A, and national distribution.

Key Appointments Include:

Mark Federighi: A seasoned executive with tenure at Gallo, Diageo, PepsiCo, and Stoli Group. Federighi brings deep expertise in national distribution and scaling premium portfolios.

Mike Percic: A former Target executive instrumental in building the retailer's beverage and alcohol categories, offering critical insight into mass-market merchandising strategies.

Danny Saltzman: An operator and investor with a background at Moët Hennessy, Diageo, and Brown-Forman, currently advising high-growth brands like The Long Drink and Poppi.

Michelle Ivey: Known for scaling Ilegal Mezcal through to its acquisition by Bacardi, bringing a track record in building culturally resonant premium spirits brands.

Ruchi Desai: Co-founder of EIGHT Brewing Co. (with Troy Aikman) and leader at Rising Tide Ventures, specialising in "zero-to-one" brand building.

Strategic Outlook

The board’s immediate remit will be to refine Iconic Tonics' go-to-market approach and strengthen strategic partnerships. As the functional beverage category expands beyond single ingredients into broader "feel" occasions, the board will ensure the company scales responsibly while maintaining the distinct cultural identity of its portfolio brands.