Moët Hennessy Becomes Tequila Producer
The LVMH Group-owned giant, which has historically acquired established spirits brands instead of developing its own from scratch, has created its new Volcan De Mi Tierra tequila in two expressions: a creamy Cristalino (an aged tequila whose colour is removed through filtration) and a zesty, lively Blanco, a blend of both highland and lowland blue agave.
Volcan De Mi Tierra CEO Trent Fraser told upscale US publication Forbes: "We never looked at a crazy acquisition. But we looked at medium ones. Then I moved away from this because you inherit a lot of amazing things but you also get the pre-existing brand identity. It was more that we wanted to own our place – our everything."
For more on how luxury brands are innovating in saturated categories, see New Food Covetables. Also, DIY Mixology and Packaging Futures 2017/18: Luxury look at product development and gifting opportunities in the alcohol domain.
See also Brand Stretch: Elastic Food & Drink Development for more on brands stretching beyond their traditional and well-established category remits.