The past week was a busy one, so here is a summary of the latest spirits sales & marketing news.
In top news about spirits trends, tequila continues to explode. For tequila importers, this is fantastic news. For those not importing tequila, the question becomes how to take advantage of an evolving consumer. Is it by becoming a tequila importer (difficult), or perhaps adding an agave-based spirits product to your line (sotol, etc.)? Not to fear too much though because whiskey sales continue to surge in on-premise as well.
In the world of alcohol legislation, Mississippi gets closer to privatization of the liquor industry – but there is a battle in the state house and senate. If it manages to get past the senate, the decreased red tape could lead to more competition and availability for spirits brands throughout the state. Maine and Virginia extend cocktails-to-go until March ’25 and July ’24 respectively. While this pits restaurants and bars against liquor stores, the ability to get spirits brands in front of customers through different avenues allows for more innovation and sales for those who know how to accomplish it.
For M&A and press releases, this week includes some heavy hitters with Samson & Surrey bought by Heaven Hill and Dwayne “The Rock” Johnson’s Teremana Tequila is acquired by Jagermeister. Two very different paths of growth between the two brands: organic growth & acquisitions vs. celebrity-backing. If you’re thinking about growing a brand so that you can eventually sell it, you need to know the steps that companies like these took to get there.
And now, the news…