News Briefs for July 25, 2023
July 25, 2023•Diageo has launched a new Cristalino Tequila from Casamigos, the first new release from the brand since 2018. The 40% abv Tequila begins as Casamigos Reposado before charcoal filtering and bottling. The new release is available across the U.S. in 1-liter, 750-ml., and 375-ml. bottles for around $74, $61, and $32, respectively. According to Impact Databank, Casamigos surged 35% to 2.4 million cases last year to become Diageo’s fifth-largest brand in the U.S. in volume terms.
•Rémy Cointreau saw sales decline 35% to €258 million ($285m) in its first quarter ended in June owing to normalization post-Covid and inventory reduction in the U.S., but says it expects a “sharp rebound” starting in its third quarter. The brand’s Cognac business fell 45% against a tough comparable period last year as the company said it held prices steady “in an increasingly promotional environment.” Cointreau liqueur has fared better lately and is showing “very good momentum,” with Rémy’s Liqueurs & Spirits division expected to return to growth in the current quarter.
•Bosscal mezcal, founded by brothers Nelson and Verne Nieves, has appointed new leadership as it parts ways with importer Wolf Spirit. The brand has named Stuart McGuire CEO, Ruben Basantes COO, Emmanuel Peña CCO, and Luis Ascensio CFO Mexico. McGuire joins from Wolf Spirit, while Basantas comes from Southern Glazer’s. Peña was a founder of Diplomático rum, and Ascencio has ran Bosscal’s Mexican operation since 2018. In addition to naming a new executive suite, Bosscal has joined the Southern Glazer’s Craft Collection Luxury Spirits portfolio for national distribution. The brand’s trio of releases— Joven ($45), Damiana ($50), and Pechuga de Conejo ($100)—are all bottled at 42% abv and made from hand harvested Cenizo agave.
•Charlotte, North Carolina’s Sunshine Punch has launched its eponymous ready-to-serve cocktail in 11 states. The 18% abv blend of rum, vodka, creme, and orange is meant to be a spirited take on the Orange Creamsicle. The cocktail is available in 750-ml. bottles for a suggested price of $25 and is launching in North and South Carolina, Georgia, Florida, Tennessee, Michigan, Ohio, Louisiana, Texas, Alabama, and Mississippi, ahead of a wider rollout later this year. Additionally, the brand is aiming for national DTC availability on August 1.
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