Woodford Leverages Innovation To Bring New Drinkers To Bourbon

Brown-Forman’s Woodford Reserve, long a growth engine among super-premium American whiskies, is continuing its upward trend in 2024, despite a tougher business climate that’s sapped momentum from some of its peers. Last year, Woodford reached 1.42 million cases in the U.S., up 11.1%, according to Impact Databank. So far in 2024, the brand continues to grow, rising 6.4% in control states through June.

“Woodford Reserve continues to experience growth, even amidst the tough environment for the spirits category,” says Tracey Johnson, vice president of Woodford Reserve and Old Forester at Brown-Forman. “The Kentucky Derby, in particular, serves as a significant sales and marketing driver for Woodford Reserve, providing us with a second ‘holiday’ outside of the October-November-December period.” Woodford’s 2024 Derby bottle featured artwork from Wylie Caudill, retailing at $55 a 1-liter.

Innovation is playing a key role for the brand in attracting new consumers. Among Woodford’s latest whiskies is a Blended Malt from its Distillery Series retailing at $65 a 375-ml., along with a Toasted Bourbon ($65 a 375-ml.), and a Batch Proof bottling retailing at $150 a 750-ml. More newcomers are on the way, Johnson notes. “We have exciting new product launches planned for the next 12 months, including our annual Master’s Collection and a product to be announced in early 2025,” she says.

“The Distillery Series and Master’s Collection provide our master distiller Elizabeth McCall with a platform for innovation,” Johnson explains. “Occasionally, experimentation leads to a permanent product—as was the case with Double Oaked, which began as a Master’s Collection release. Woodford Double Oaked still has a long runway for growth. It gained significant traction a few years ago when we redesigned the bottle to distinguish it from the core Bourbon bottle,” she says.

Looking longer-term, Woodford Reserve has had a remarkable nine-year run, growing from just 374,000 cases in 2015 to its position today as the sixth-largest Bourbon/Tennessee whiskey brand in the U.S. behind only Jack Daniel’s, Jim Beam, Evan Williams, Maker’s Mark, and Bulleit. Lately, Woodford has had the most momentum among the category leaders.

If current trends continue, Woodford is likely to crack the top five Bourbon/Tennessee whiskey brands in the U.S. before long. It looms even larger in the super-premium above-$25 segment, where it’s third in volume terms behind only Maker’s and Bulleit, well ahead of fourth-ranked Knob Creek.—Shane English

Tagged : Brown-Forman, Woodford Reserve

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