Diageo is reportedly exploring a sale of Cîroc Vodka, the brand once transformed by the support of disgraced music mogul Sean “Diddy” Combs, who is now in prison facing federal charges of sex trafficking among other crimes.
If brands can be founders’ children, then Brett Berish has taken a very hands-on approach to fatherhood becoming the focal point for his spirits company Sovereign Brands.
Constellation Brands has reached an agreement with spirits giant Sazerac to offload its Svedka Vodka brand, the company announced today. The sale, which is expected to close “in the coming months,” is part of Constellation’s plan to premiumize its wine and spirits business, which have not kept pace with the gains its beer portfolio of Mexican imports has delivered.
Spirits giant Sazerac manages approximately 500 brands across beer, wine and spirits, yet president and CEO Jake Wenz insists the company is still “focused.”
If you’re looking for Guy Fieri and Sammy Hagar’s Santo Tequila, you might be out of luck thanks to an Oceans 13-level heist that disappeared two truckloads of tequila last week. If only it were George Clooney’s Casamigos, then this would be one meta story.
In 2023, U.S. craft spirits faced the first dip in sales, volume and share in recent history, according to data from the 2024 Craft Spirits Data Project, shared by the American Craft Spirits Association (ACSA) and Park Street.
Across oversaturated retail shelves, bev-alc brands are under pressure to stand out.
In premium spirits and canned cocktails, brands have learned that calling out unique ingredients and connecting to audiences through their own cultural stories is key to positioning. They’re also balancing bolder looks with conveying brand values, health benefits and taste without over-messaging. Many have gone back to the drawing board, honing their brand prepositions and packaging.
Constellation Brands may have lowered its fiscal year 2025 (FY25) guidance earlier today, but the company has not lost confidence in the continued growth of its beer brands.
Earnings calls from Brown-Forman and Pernod Ricard echoed other spirit companies struggling to regain their footing in the U.S. as the inventory build-up continues. Meanwhile, Pernod Ricard announced separately it is further bolstering its non-alc portfolio.
Spirits, hard cider, mead and braggot producers can now ship their products directly to New York consumers. Gov. Kathy Hochul signed Senate Bill S2852A into law Monday, allowing direct-to-consumer (DTC) shipping from in- and out-of-state manufacturers.
Earlier this month, an article in Food & Wine proclaimed craft spirits in crisis, kicking off a tense debate between wholesalers and craft spirit representatives about the root causes of the challenges facing distillers.
Marking its first annual sales loss since 2020, Diageo reported a -1.4% decline in net sales for fiscal year 2024 during its earnings call Tuesday morning.
Fast-growing whiskey company Uncle Nearest has launched a unique trade mentorship program, leveraging a brand advocacy strategy its creator said is centered on investing in bartenders and building long-term relationships.
Ever since Diageo’s acquisition of Casamigos made George Clooney an overnight billionaire, there’s been a race to the shelf from celebrity-backed brands. But with the wider spirits downturn, how have these business models evolved and where do they have an edge, if at all?
