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The Lack of Innovation in the Alcohol Industry
With the advent of fast fashion, there was a period of time where every fashion brand had to make a decision about whether or not they were going to move to a faster operating cycle. And innovation is just really hard, in the sense of i have distribution and i have shelf space. I don't want to give it up given the primacy of my brands. So we end up finding a lot innovation coming out of smaller places.