The US stock market debut of the Swedish oat milk producer Oatly, which is due to price its initial public offering on Wednesday, marks a milestone and a test for Toni Petersson, the marketing maven who has made it one of the world’s most recognisable brands in less than a decade. Oatly is not just a beverage but a “brand phenomenon that speaks to emerging consumer priorities of sustainability, trust and health”, creating “thought-provoking, conversation-sparking content to engage people around our mission”, according to the prospectus. The company is targeting a valuation of $10bn, five times the price tag of an investment by Blackstone and others just last year, suggesting more than a few public investors have already signalled they see the potential.
