Financialnewsmedia.com News Commentary
News provided by FinancialNewsMedia.com
Feb 11, 2020, 08:50 ET
PALM BEACH, Florida, Feb. 11, 2020 /PRNewswire/ — The global alcoholic beverages market is expected to reach $1,684 billion by 2025, registering a CAGR of 2.0% to 3.1% through 2025 according to multiple industry reports. The growth of the global alcoholic beverages market is driven by increase in global young‐adult demographic, surge in disposable income, and rise in consumer demand for premium/super premium products especially for those owned by and/or endorsed by very well known celebrities from Hollywood actors, entertainers and sports superstars. The last decade has seen an ever-increasing number of A-level actors, directors, musicians taking on financial and creative stakes in the alcoholic beverages business. The manufacturers are operating under the belief that partnering with a celebrity (for existing and new products) can increase visibility and offer consumers a bit of insider status, as a well-known brand licensing insider said that, “People are looking for some of the fairy dust to be sprinkled on them from that celebrity’s lifestyle.” Active companies in the markets this week include Iconic Brands, Inc. (OTCQB: ICNB), Constellation Brands, Inc. (NYSE: STZ), Molson Coors Beverage Company (NYSE: TAP), The Boston Beer Company, Inc. (NYSE: SAM), NewAge Beverages Corporation (NASDAQ: NBEV).
Another new twist into the industry is that existing brand named businesses, such as restaurant chains, hotels and more are also creating their own brand of alcoholic beverages, to utilize their existing brand and expand its reach to generate additional revenues from its brand name. The market is driven by the increase in global young-adult demographic, coupled with high disposable income and consumer demand for premium/super-premium products. The growing demand for premium alcoholic beverages is considered to be one of the primary drivers for this market. Efforts by alcoholic beverage manufacturers for strengthening distribution channels and extension of purchase channels… is also contributing substantially to the growth of the global alcoholic beverages market.
Iconic Brands, Inc. (OTCQB: ICNB) NEWS: Iconic Brands’ Hooters Spirits Premium Line Now Available in Hooters Corporate Restaurants in 22 States – Iconic Brands, Inc. (OTCQB: ICNB) (“Iconic” or the “Company”), today announced that its private-label Hooters Spirits products, a premium line of alcohol beverages that includes an array of vodka, gin, rum, tequila and whiskey options, is now available in Hooters corporate restaurants in 22 states across the United States. Iconic is supporting the rollout of the product line with marketing initiatives to help raise awareness of the brand, both inside and outside of the Hooters restaurants.
Iconic is currently engaged in the second phase of a 2-phase expansion rollout of its Hooters Spirits product line. It successfully completed Phase 1 with the expansion of the product line into all Hooters corporate restaurants where permissible by state law. Phase 2 will continue the expansion of the Hooters Spirits product line into franchise restaurants where permissible by state law. Franchise stores are adding Hooters Spirits products as they choose and see fit. Phase 2 will continue with the expansion and distribution of Hooters Spirits products into off-premise retail locations.
The rollout and marketing campaigns will feature event launches, contests and giveaways, including an autographed Chase Elliott No. 9 Hooters Spirits Chevy Camaro ZL1 diecast giveaway, social media campaigns, and the launch of additional bottle sizes.
Richard DeCicco, Chief Executive Officer of Iconic, stated, “This is an opportune time to begin the execution of our rollout plan on a much greater scale. The Hooters Spirts product line has been a hit with patrons and fans of Hooters, and we look forward to expanding distribution worldwide. As a 36-year-old brand, Hooters has an incredibly loyal following, and we intend to use that to capitalize on the success of this line of spirits.”
Iconic has a strong relationship with the Hooters chain of casual restaurants and makes its products available on Hooters menus through a private-label affiliation. Iconic provides full-service turnkey private labeling-enabled expertise in product sourcing, product development, brand development, marketing and distribution. Read this full press release and more ICNB here: https://www.financialnewsmedia.com/news-icnb/
Other recent developments in the markets this week include:
Constellation Brands, Inc. (NYSE: STZ) announced that it and E. & J. Gallo Winery have agreed to revise their original transaction to divest a portion of Constellation’s wine and spirits portfolio principally priced at $11 retail and below, including related facilities located in California, New York, and Washington. The new agreement will supersede the original agreement announced in April 2019. The revisions to the transaction are to address competitive concerns raised by the FTC primarily related to the Sparkling Wine, Brandy, Dessert Wine, and Concentrate categories.
Molson Coors Beverage Company (NYSE: TAP) recently announced that through a subsidiary, it plans to buy Detroit-based Atwater Brewery. Atwater has been a leader in the Michigan craft community for more than two decades. It is popular for traditional German-style lagers and unique ales. Additionally, Atwater produces hard seltzers and craft spirits, and also operates three unique taphouse and biergarden locations in Detroit, Grosse Pointe Park and Grand Rapids.
Molson Coors anticipates closing the transaction within the next few months. However, the terms were not revealed. The acquisition of Atwater Brewery is likely to complement Tenth and Blake’s craft portfolio, which includes the Jacob Leinenkugel Brewing Company, AC Golden Brewing Company, Saint Archer Brewing Company, Terrapin Beer Company, Hop Valley Brewing Company and Revolver Brewing. Notably, Tenth and Blake’s regional crafts posted volume increase of more than 16% in 2019. Molson Coors is on track with its revitalization plan, which was launched in October 2019. The plan focuses on generating savings that are reinvested across its portfolio.
The Boston Beer Company, Inc. (NYSE: SAM) recently announced that Julio Nemeth has been appointed to its Board of Directors, effective January 31, 2020. Mr. Nemeth, 59, is the Chief Product Supply Officer at Procter & Gamble, a consumer goods company headquartered in Cincinnati, OH(NYSE: PG). In his current role, Mr. Nemeth leads P&G’s global Product Supply organization, which includes 58,000 employees, over 100 manufacturing plants, and roughly 200 distribution centers around the world focused on bringing superior products to the world’s consumers. He also serves as the Executive Sponsor of the Hispanic Leadership Team and the People with Disabilities Network at P&G. Since joining the company in 1990, Mr. Nemeth has held several senior roles, including President of Global Business Services from January 2015 to April 2019 and Senior Vice President, Product Supply, Global Operations from July 2013 to December 2014.
NewAge Beverages Corporation (NASDAQ: NBEV), the Colorado-based healthy products company, in January announced that David Vanderveen has joined NewAge as the newly appointed chief operating officer effective immediately.
David Vanderveen has been an accomplished industry leader in the Direct Selling industry for over 20 years. He was the founder and chief executive officer of XS Energy, a portfolio of energy drinks and sports nutrition products, which he sold to Amway in 2015 and became Amway’s fastest growing brand and category in their portfolio worldwide with annual sales of almost $500 million. Since the sale of XS Energy, he has been operating as a senior executive within Amway leading the expansion of the brand to more than 60 countries. Mr. Vanderveen commented, “partnering with a world class company like Amway and their business owners has been a highlight and an incredibly enriching and rewarding experience. We were fortunate to have had such success supporting the growth and development of millions of entrepreneurs around the globe with one of the most innovative functional beverage and sports nutrition brands. Our work together transforming direct selling has been foundational to my view of what’s possible in the new world of brand building.”
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