What CEOs Are Saying: Legal Vices
Three calls from Brown-Forman, Rémy Cointreau, and Boston Beer
In this edition
Hard seltzer underperforms
Canada nixes US spirits
Blackberry whisky is a hit
More tariff troubles
A “beautiful” cognac for the US market
Quote of the week
“A company turnaround doesn’t depend on market recovery. The turnaround happens when a company takes back control.”
—Franck Marilly, CEO, Rémy Cointreau, on the RC Forward transformation plan
One hundred years ago, the 1920s were roaring despite the fact that the beer, wine, and spirits industry was technically illegal. The speakeasies were packed and bootleggers were making a pretty penny.
Flash-forward to today, and we have an inside-out version of that situation. Alcohol is legal, abundantly advertised, but Americans are less interested in the stuff than ever. A Gallup poll released last August found that only 54% of Americans say they drink, a record low in Gallup’s data going back to 1939. Young adults, once the heaviest drinkers, now report drinking at rates below middle-aged and older Americans. The spirits category p…
