Park Street Insider Podcast

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

Send us a textE-commerce in beverage alcohol has historically lagged behind traditional CPG sectors, but thanks to the pandemic and the gradual loosening DTC shipping laws,  we're seeing this channel assume a meaningful share of alcohol sales for the first time.  In this episode, the Park Street Insider Podcast welcomes ReserveBar CEO, Derek Correia. He and Emily Pennington evaluate how bev-alc e-commerce has progressed to where it is today, how ReserveBar was able to scale its business to sit at the center of online bev-alc sales, and how brands can build e-commerce into their strategy. They also explore key insights regarding how consumers behave online and the spirits categories/price tiers that are currently trending.  Key topics mentioned:  What will the future of bev-alc e-commerce look like? Millennial and Gen-Z consumers have an increasing interest in buying alcohol online. Correia posits the concept of "e-commerce everywhere" and offers a profile of how the modern shopper behaves. Doing an on-site brand activation? Derek sees a world where the time between a consumer trying a product and subsequently purchasing it online shrinks to a matter of seconds. He and Emily discuss how e-commerce is set to influence industry dynamics down the road. What does Uber dissolving Drizly mean for bev-alc e-commerce? With Uber shutting down Drizly at the beginning of 2024,  questions were raised about what the future of the sector would look like. Correia offers his thoughts on how this move alters the bev-alc e-commerce landscape. ReserveBar is attempting to fill the void for brands whose money was tied to the known depletions of Drizly. "Brands don't enjoy the same ability to influence purchase in that last mile digitally as all other CPG does, so platforms like ours have become very important"What strategies can brands use to implement e-commerce capabilities? Correia gives his best practices for using an online presence to leverage sales. He emphasizes the importance of building out a frictionless path to purchase across all online consumer touchpoints. He also offers his take on the mistakes he sees brands making when constructing their e-commerce presence. In this episode you'll hear from:Derek Correia, CEO, ReserveBar Mentioned in this episode:ReserveBarMinibar DeliveryGetStockedLearn 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 textBrand building in the spirits industry is always context dependent. What might drive sales in one market may have little relevance in another.  The result is a necessity for brand's to understand the performance drivers, consumption habits and key trends in their target markets and channels.  On this special crossover episode, Chris Maffeo, host of the Maffeo Drinks Podcast,  joins the Park Street Insider Podcast's Emmett Strack for a wide ranging chat on the key consumer trends propping up the U.S. and EU markets in 2024. The two explore the categories in demand in both sectors, the consumer behaviors driving purchasing in 2024 and considerations with brands to align with them. In many ways, the compatibility between the U.S. and EU beverage-alcohol markets has never been stronger.   With the U.S. on-premise at the frontier of the global cocktail scene, bars in major European cities are taking their cues from leading programs in New York, LA, and Miami. At the same time  U.S. consumer's hunt for authenticity and new flavor profiles have made European spirits an object of desire. Emmett and Chris explore how key industry trends resonate with both the U.S. and EU  markets. Key topics mentioned:  The Intersection of  Category and FlavorEmmett and Chris explore the key drivers of consumption for the average consumer in 2024. They dive into why SKU innovations along the lines of flavor are making it more likely than ever for consumers to drink across categories. U.S. vs EU On-Premise TrendsFour years on from the start of the pandemic, what's the pulse of the on-premise? The two explore the visitation levels and cocktail trends the industry can expect in the coming year from both U.S. and EU perspectives. They chat about the influence of the U.S. when informing the direction taken by the EU bar scene. Categories on the RiseEmmett and Chris compare the different phases of adoption agave spirits have reached in the U.S. and EU. They'll explore the spirits categories set to gain the most traction between the two regions in the coming year. In this episode you'll hear from:Chris Maffeo, Founder, Maffeo DrinksMentioned in this episode:The MAFFEO DRINKS PodcastWant 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 textControl states can feel like a weighty subject. They're one of the main reasons that the U.S.  should be taken as fifty individual markets as opposed to a unified entity. But with the right context and know-how, making sales in these states won't seem like such a large hurdle.  On this episode of the Park Street Insider Podcast, Ashley Glickman, Executive Vice President of National Sales at Westward Whiskey, offers a supplier perspective on making sales in control states. She’ll break down three models for how control states regulate retailers and describe how each impacts the selling dynamics for brands off-premise. She’ll go into listing criteria, product placement dynamics, and various sales approaches. In this episode you'll hear from:Ashley Glickman, Executive Vice President-National Sales, Westward Whiskey Mentioned in this episode:Alcohol and Tobacco Tax and Trade BureauWestward WhiskeyWant 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 textGoing from founding a brand to selling it to a strategic acquirer in less than three years is an achievement worthy of celebrating. But for Mike Montgomery, founder of Blue Run Spirits, this milestone was only the start of the hard work. Now backed by Molson Coors, Montgomery is more motivated than ever to make waves in the trending bourbon category. On this episode of the Park Street Insider Podcast, Andres Correa is joined by Blue Run Spirits founder Mike Montgomery to unpack how his brand went from launching in 2019 to becoming the first spirits acquisition by multinational beer supplier Molson Coors in just three years. Key topics mentioned:  Adjusting to Acquisition: Andres and Mike break down how Blue Run was able to leverage the traction it saw in the bourbon market into a sale with a multinational strategic supplier. Modern Marketing Methods: Blue Run Spirits took principles from the fashion industry to generate consumer excitement through limited releases and "drops".  Every aspect of the brand was created with the consumer in mind, with a particular emphasis on diverse flavors and compelling aesthetics. The Power of Team Building When Mike set out to build Blue Run he handpicked teammates that would excel across every vertical of the company. His story is a reminder that surrounding yourself with good people and uniting behind a common goal goes a long way to fulfilling your vision. In this episode you'll hear from:Mike Montgomery, Founder, Blue Run Spirits Mentioned in this episode:Molson CoorsBlue Run SpiritsLearn 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