Suntory Sees Jim Beam Outperforming In American Whiskey

While the American whiskey category has softened a bit lately after a long-term boom, Suntory Global Spirits has seen its flagship Jim Beam label hold up well amid increasing competition. Including its flavored varieties, Jim Beam is now 1.5 million cases larger than it was a decade ago, posting U.S. volume of 5.5 million cases last year, according to Impact Databank. Suntory tells SND the brand has outperformed the American whiskey category every month since the beginning of last year.

“We are growing in numerous markets around the world,” says Rashidi Hodari, managing director of the James B. Beam Distilling Co. “In our home market the category’s a little bit softer, but we’ve been able to counter that with the launch of Jim Beam Pineapple this year, and last year we also relaunched Jim Beam Black to continue to burnish our quality credentials.”

In a bid to further extend its reach both in the U.S. and globally, Jim Beam has now formed a multi-year partnership with the Cadillac Formula 1 racing team, which will enter the FIA Formula 1 World Championship next year as the first new addition to the grid since 2016. “Formula 1 is growing at an unprecedented rate, and we thought with our music and sports platforms that there’s not a better avenue for future growth opportunities than to partner with a Formula 1 team,” explains Hodari.

Jim Beam also has a link with Cadillac going back decades, with the company noting that the Bourbon brand’s founder and namesake was known to place a mason jar of his proprietary yeast in the front seat of his Cadillac each evening and bring it home with him to protect the brand’s legacy. Jim Beam’s seventh-generation master distiller Fred Noe still drives a Cadillac today.

Formula 1’s global audience is a key facet of the partnership, says Hodari. “That’s one of the most attractive components of Formula 1, the fact that it’s a global footprint across 20-plus markets, and that there’s a growing fan base across all of those markets,” he observes. The increased visibility is intended to help extend Jim Beam’s global momentum, with the brand up 3% to 10.7 million cases worldwide last year, including flavors, according to Impact Databank.

The move to partner with Formula 1 continues Jim Beam’s strategy of leveraging sports and music audiences both in the U.S. and around the world to draw new drinkers. The brand also sponsors the National Football League’s Kansas City Chiefs and Dallas Cowboys, Major League Baseball’s L.A. Dodgers, and the United States Soccer Federation, and it has other tie-ins with car racing including the Indianapolis 500 and NASCAR in the U.S., and Dick Johnson Racing (DJR) in Australia.

“The essence of what the brand stands for is human connection, bringing people together, creating community,” says Hodari. “I think at this moment around the world, one of the things that most people end up agreeing on is passion for their local sports team, and understanding the link between fan connection and community is a great opportunity for Jim Beam to tell its story.”—Daniel Marsteller

Tagged : Jim Beam, Suntory Global Spirits

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