How Michael Jordan created one of the world’s most expensive tequila brands
Conor McGregor wasn’t the only one who had a talent for selling alcoholic beverages. Three years ago, basketball legend Michael Jordan decided to start a similar business. He and four of his NBA lava buddies turned out to be tequila drinkers. As a result, they all started to produce the drink under one brand, Cincoro. Moreover, its popularity is off the charts, with prices ranging from $130 to $1600 per bottle.
The story behind the creation of the top tequila
On a summer evening in 2016, Michael Jordan invited some colleagues to have dinner with him at a Manhattan pizzeria called Pasquale Jones. Ginny Bass (Los Angeles Lakers), Wes Edens (Milwaukee Bucks) and Vic Grusbeck (Boston Celtics) and his future wife Emilia Fazzalari attended the meeting at the time.
Due to a number of unfortunate circumstances, those in attendance had a long wait for their table. Jordan’s part – he wasn’t expected that night at all. However, it so happened that while the guests were waiting for a table at the manager’s table, they got to talking to each other. So it came down to a discussion about tequila.
The fascinating conversation turned smoothly into a discussion of the business plan and other subtleties of the idea. After that fateful dinner, the idea was put into action. Today Cinco Spirits Group is one of the top tequila producers, headed by Emilia Fazzalari. Previously she was involved in developing information platforms for the energy sector and also worked in finance.
About Cincoro Beverage
The brand has a range of four types of drink. They can be purchased as follows:
- Blanco (2 months maximum);
- Reposado (8 to 10 months);
- Añejo – (24 to 28 months);
- Extra Añejo (44 months).
Tequila of this brand can be purchased throughout the United States, as well as partially outside the United States (each country must be checked separately). There are, however, some nuances. They have to do with supply. There are some nuances in terms of dealing with logistics and the infrastructure sector. This naturally affects the cost of the product.
It is interesting that in the first 3 days around 300 cases were sold. And they were sold in the only state – Massachusetts. In some other states in the first weeks of release almost all the stocks of the drink were also depleted. Funny thing is that there was not even much left for the launch party.
Market position
The choice in favour of the American market was not made by chance. Tequila drinkers in the US consume the most Tequila compared to non-Americans. They account for more than 50% of global consumption. But the figure is increasing every year, and therefore it is likely that the volume will only increase the profit of the brand.
The specialty of a Cincoro brand drink is its naturalness. It is made from ingredients of good quality. Also, despite having only 4 varieties, each one is really made to ensure the consumer’s enjoyment. This also plays into the hands of the company, which intends to expand its market.