| Beverage Wholesaler - June 26, 2017 |
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Tequila producers today have an enviable luxury problem: making sure there is enough of the classic Mexican spirit to go around.
Maintaining a steady supply during a time of unprecedented growth has been an important milestone, as tequila has recently outstripped overall spirits growth in the U.S. Brands and brand extensions are proliferating, while prices rise, perceptions of quality improve and consumers continue to develop a healthy interest in exploring the varieties of age statements, production methods and expressions that distillers produce.
“The most impactful market condition is the growth of high-end tequila offerings,” says Malini Patel, Beam Suntory’s VP of tequila and innovation. “Today’s tequila consumer is more aware of premium variants and 100% agave offerings than compared to previous years. As consumers continue to trade up, they’re finding that new innovations satisfying their need for unique offerings.”
Preliminary numbers from the Beverage Information & Insights Group show tequila overall continuing to grow at a healthy 5% clip, capitalizing on the shift towards high-end spirits, and last year hitting 15.7 million nine-liter cases. Now, about half of tequila exports are 100% agave, compared to less than 15% of brands over a decade ago.
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| Diageo Buys Casamigos Tequila |
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Global Drinks giant Diageo has added to its premium tequila holdings buy purchasing Casamigos. The purchase price is reportedly $1 billion, including $300 million in performance-based payments.
The Casamigos brand was founded by actor George Clooney and his friend Rande Gerber after the two bought adjacent properties in Mexico and spent time together drinking tequila. Their love for the spirit morphed into creating a tequila intended only for their own consumption.
When they attempted to share the tequila with others across Mexico’s borders, they learned that they’d have to license the product. From there it became a brand, Casamigos, which launched in 2013 and quickly grew in popularity and size. Sales doubled the last two years.
“We created Casamigos Tequila four years ago for us to drink personally and selling it for $1 billion dollars is something we never could have imagined,” Gerber said in a statement. “We remain committed to our brand and look forward to our future with Diageo and continuing our work with our dedicated and passionate Casamigos team.” |
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ONE MORE THING
Wisconsin craft breweries, wineries and distilleries have formed the Wisconsin Craft Beverage Coalition to counteract legislative changes promoted by the Wisconsin Beer Distributors Association and the Wisconsin Wine & Spirits Institute.
-Madison.com, June 22 |
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JOBS BOARD
Labor Counsel
Wholesaler: Southern Glazer’s Wine & Spirits
Location:Dallas, TX
Requirements: J.D., license to practice law and 6-8 years experience.
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Copyright 2017 by EPG Media & Specialty Information
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