Park Street Insider Podcast

Send us a textEstablishing a sound financial model in a business's early days is crucial for spirits brands to set a foundation for sustainable growth. A well-crafted financial plan helps brands minimize surprises and accurately forecast the capital-intensive aspects of the spirits business. In this episode, you'll hear two presentations on financial modeling. First, former Pernod Ricard executive Guillaume Thomas will share his best practices for financial success during the brand-building process. Then, Felipe Gonzalez-Gordon discusses the costs associated with competing in the beverage alcohol business.Featured Guests:Guillaume Thomas, Founder and CEO, Martingale CognacFelipe Gonzalez-Gordon, COO & Partner, Colangelo & PartnersMentioned in this episode:Martingale CognacColangelo & PartnersWatch the full videos on YouTube: 4 Focus Areas for Financial Success in the Alcohol BusinessThe Costs of Competing in the Beverage Alcohol BusinessWant to stay in the know about new episodes from the podcast? Fill out the form below: https://share.hsforms.com/1MEb-81x2TXi3f15qO_yEpA4tip1Learn More About Park StreetSign up for our Daily Industry Newsletter.Sign Up for our Monthly Newsletter.Check out Park Street's Guide to Getting Started in the U.S. MarketFollow us for more industry insights onLinkedIn FacebookTwitterInstagram

Send us a textBrands are often founded with the purpose of aligning with a given trend and exploiting a perceived white space in the market. In the mid-2000s, introducing a premium bourbon may have seen high growth, likewise for rolling out a specialty high-end tequila in the early to mid-2010s. But when founders really get it right, and their offering is able to align with multiple trends at once, it's possible to see uniquely explosive growth. Such was the case for Surfside, which saw over a million cases sold over the course of a year between 2022 and 2023. Surfside is a Philadelphia-based ready-to-drink brand rolled out by the creators of Stateside Vodka. With RTDs taking center stage as the spirits industry's spotlight category, Surfside was able to build on this platform to leverage consumer interest in flavor variety, health consciousness, and convenience into the highest-growth brand in the United States. On this episode of the Park Street Insider Podcast, Emily Pennington is joined by Clement Pappas, CEO of Stateside Brands. The two discuss how Surfside went from concept to can to achieving astronomical sales in just a few years. They'll explore the brand's unique route-to-market strategy and how they dealt with demand and scaled the business. Featured Guests:Clement Pappas, CEO, Stateside BrandsMentioned in this episode:Stateside VodkaSurfsideWant to stay in the know about new episodes from the podcast? Fill out the form below: https://share.hsforms.com/1MEb-81x2TXi3f15qO_yEpA4tip1Learn More About Park StreetSign up for our Daily Industry Newsletter.Sign Up for our Monthly Newsletter.Check out Park Street's Guide to Getting Started in the U.S. MarketFollow us for more industry insights onLinkedIn FacebookTwitterInstagram

Send us a textThe landscape of on-premise spirits consumption has undergone significant shifts in the past few years, challenging the long-held view that primary drivers of growth for spirits brands take place on-premise. The aftermath of the pandemic has seen consumers engage differently with bars and restaurants, learn to be at-home bartenders, display increased health consciousness, and grapple with inflationary pressures that affect their spending habits. These macro-level changes have affected brands’ approaches to on-premise strategies. Despite the challenges, on-premise continues to offer unique opportunities for brands to educate consumers, facilitate product sampling, and drive sales. The question now is how brands can best leverage the opportunities presented by bars, restaurants, and other venues in this evolving landscape. To explore this topic, Emmett Strack sat down with prominent players in the New York City on-premise scene at Bar Convent Brooklyn this past June. This in-depth conversation delves into strategies for fostering meaningful relationships between brands and bars in 2024 and beyond, addressing the changing dynamics of the industry and exploring approaches to on-premise engagement in a post-pandemic world.Featured Guests:GN Chan, Co-Founder, Double Chicken PleaseSebastien Derbomez,  Manager of Brand Advocacy, William Grant & SonsJason Hedges, Director of Beverage, Laurent Tourondel & Founder, Bar IQMentioned in this episode:Double Chicken PleaseWilliam Grant & SonsLaurent Tourondel Bar IQWant to stay in the know about new episodes from the podcast? Fill out the form below: https://share.hsforms.com/1MEb-81x2TXi3f15qO_yEpA4tip1Learn More About Park StreetSign up for our Daily Industry Newsletter.Sign Up for our Monthly Newsletter.Check out Park Street's Guide to Getting Started in the U.S. MarketFollow us for more industry insights onLinkedIn FacebookTwitterInstagram

Send us a textAt one point or another, every person in the spirits industry is almost certain to have their career altered, influenced, or shaped by personal relationships. On a business-to-business level, many brands the Park Street Insider Podcast has hosted over the years echo similar sentiments around the crucial role partnerships have played in their trajectory. No brand is constructed in a vacuum, and the long-term success of each is often tied to the quality of partnerships they form with the companies around them at every stage of development. The value of strong brand partnerships is perhaps no more evident than through the brand-building journey of Chris Montana, co-founder of Du Nord Social Spirits. Hailing from Minnesota, Du Nord’s growth was boosted by its ability to carefully align with the right partners. Being the first business to graduate from the Nearest & Jack Advancement Initiative, a partnership between Jack Daniel's and Uncle Nearest to increase diversity in the American whiskey industry, Chris was able to leverage this partnership into another: a deal with Delta Airlines. So land a deal with the number one airline in the U.S. and you’ve made it, right? For Chris, Du Nord found itself in a scenario a bit like when the dog catches the car, having attained a major value-add and needing to learn on the fly how to navigate it. Chris is joined by Andres Correa to piece together how Du Nord was able to attract and navigate the challenges that came with a major partnership with Delta Airlines. Featured Guests:Chris Montana, Co-Founder, Du Nord Social SpiritsMentioned in this episode:Du Nord Social SpiritsDelta AirlinesNearest & Jack Advancement InitiativeMore from Park Street.Want to stay in the know about new episodes from the podcast? Sign up for episode email alerts. Sign up for our Daily Industry Newsletter.Sign Up for our Monthly Newsletter.Check out Park Street's Guide to Getting Started in the U.S. MarketFollow us for more industry insights onLinkedIn FacebookTwitterInstagram

Joe Magliocco, president of the historic Michter's whiskey brand, revitalized the company after acquiring its trademark for just $245 in the late '90s. In this engaging conversation, he shares how teamwork and strategic decisions transformed Michter's from obscurity to global acclaim. The discussion delves into the challenges of whiskey distribution, the revival of American whiskey, and the influence of mixologists. Magliocco also offers wisdom for aspiring spirits entrepreneurs on the importance of resilience and building the right team.

In this insightful discussion, Emmett Strack, an M&A expert in the beverage alcohol sector, breaks down the dynamic landscape of mergers and acquisitions post-2020. He explores how consumer behavior and pandemic innovations have shaped investment trends. The talk dives into Black Button Distilling's investment journey with Constellation Brands and the increasing prominence of ready-to-drink cocktails, revealing how craft spirits are navigating market shifts. Strack's analysis provides a compelling look at what drives investors in 2024.

Send us a textThe spirits market is constantly driven by new trends that rise, fall, and reinvent themselves. While brand success is relative to the goals of each founder, the extent to which a business can commercially blossom in the spirits category is often determined along the lines of good timing and a laser focus on aligning with the trends of the moment.Of the many positive elements John Rexer, the founder of Ilegal Mezcal, had going for him when he formulated his brand in the mid-2000s, good timing and aligning with the trends of the time were paramount to his brand's long-term success. Now a global leader in the mezcal category, Rexer took the time to chat with Park Street's Emmett Strack at Bar Convent Brooklyn last month.The two dive into how Rexer turned an experimental passion project in Guatemala into a global supplier owned by Bacardi. They chat about how Ilegal's punk-rock ethos helped them to win over business in New York's on-premise, his advice for brands, and the challenges of introducing an artisanal spirit to the international market. Featured Guests:John Rexer, Founder, Ilegal MezcalMentioned in this episode:Ilegal MezcalWant to stay in the know about new episodes from the podcast? Fill out the form below: https://share.hsforms.com/1MEb-81x2TXi3f15qO_yEpA4tip1Learn More About Park StreetSign up for our Daily Industry Newsletter.Sign Up for our Monthly Newsletter.Check out Park Street's Guide to Getting Started in the U.S. MarketFollow us for more industry insights onLinkedIn FacebookTwitterInstagram

Mark Harmon, from the Independent Distributor Network, and Emily Pennington, a spirits industry expert, dive into the complex distribution landscape for 2024. They discuss the intense competition for shelf space and the pressing need for brands to grab distributor attention. Key insights include the impact of the pandemic on distribution strategies, the importance of understanding profit margins, and emerging trends like craft spirits and cannabis-infused beverages. The duo also emphasizes building genuine partnerships and setting realistic goals for growth.

Send us a textThe rate of change seen in beverage alcohol over the last couple of years has been nothing short of impressive. We’re fast approaching the midway point of 2024 and have started to see some trends that emerged over the last two years begin to cement themselves. In this speech given at Bar Convent Berlin, Spiros Malandrakis, International Head of Research—Alcoholic Drinks at Euromonitor, discusses the top trends shaping the alcohol industry in 2024. Malandrakis touches on issues like premiumization, RTDs, and e-commerce and how they are affecting the industry.Featured Guest:Spiros Malandrakis, Head of Alcoholic Research, Euromonitor InternationalMentioned in this episode:Euromonitor InternationalWant to stay in the know about new episodes from the podcast? Fill out the form below: https://share.hsforms.com/1MEb-81x2TXi3f15qO_yEpA4tip1Learn More About Park StreetSign up for our Daily Industry Newsletter.Sign Up for our Monthly Newsletter.Check out Park Street's Guide to Getting Started in the U.S. MarketFollow us for more industry insights onLinkedIn FacebookTwitterInstagram

Send us a textFew spirits brands cater to the entrepreneurial spirit like the Bardstown Bourbon Company.  In a category that generally requires a massive investment on the part of a founder to launch a brand, Bardstown's unique model has found a way to lower the barrier of entry into the whiskey for aspiring entrepreneurs. And while almost every spirits brand will claim to incorporate tradition and innovation, you'd be hard-pressed to find a company that balances these two principles like Bardstown Bourbon.  The Park Street Insider Podcast welcomes Mark Erwin, the CEO of Bardstown Bourbon Company, for an in-depth conversation on the development of the Kentucky-based distillery. He and Andres Correa will discuss how the brand initially developed its collaborative distilling model and grew it into a platform that could support the needs of its partners while growing its own brand. The two map out the series of expansion plays the company made over its decade in business, including the investment from Constellation Brands and its acquisition of Green River Distillery.  Key TopicsThe importance of collaborationFrom working closely with founders and distillers producing custom-made spirits to partnering with well-known beverage-alcohol brands to introduce unique products into their line of SKUs, Bardstown is a company that's success has been found by reaching into the community around them. How to scale and increase capacityThroughout its history, Bardstown has made several strategic moves that have allowed it to increase capacity and scale its business. Learn about how they leveraged their founder's initial investment into additional funding and why the purchase of Green River Distilling supported many sides of their business. The value of transparency From it's all-glass infrastructure to selling its competitor's spirits in their own retail shop, Bardstown;s investment in transparency has made them a compelling brand for consumers and industry members alike to engage with. Featured Guest: Mark Erwin, CEO, Bardstown Bourbon Company Mentioned in this episode:Bardstown Bourbon Company Green River Distilling Constellation BrandsWant to stay in the know about new episodes from the podcast? Fill out the form below: https://share.hsforms.com/1MEb-81x2TXi3f15qO_yEpA4tip1Learn More About Park StreetSign up for our Daily Industry Newsletter.Sign Up for our Monthly Newsletter.Check out Park Street's Guide to Getting Started in the U.S. MarketFollow us for more industry insights onLinkedIn FacebookTwitterInstagram