Page 44 - The Summit of the Americas 2021

INSIDER

reputation and popularity of the brands in
its portfolio, Brown-Forman was able to
maintain a strong business profile during
2020.
“Both Jack Daniel’s and Woodford
Reserve did quite well in domestic markets
thanks in part to consumers who were
experiencing various levels of lockdown
being inclined to favor brands that were
known and proven at the expense of those
that are newer or less familiar. We feel
this trend will continue with the return of
international travel.
“For one thing, during COVID, fans
of products like Jack Daniel’s, Woodford
Reserve and Herradura tequila who had
been making their purchases in travel retail
simply bought them domestically. We have
every belief that they will switch back to
making duty free purchases when they
return to their former traveling lifestyle.”
Premiumization will continue to be
an important part of Brown-Forman’s
travel retail strategy as international travel
returns, says Bourdier.
“International travelers are, for the
most part, knowledgeable, sophisticated
and unrelenting in their demand for pre-
mium authentic brands. That was their stan-
dard prior to COVID and I see no reason
for it to change as we move back toward
normalcy. Our strategy moving forward is
to continue our focus on premium spirits
and global travel retail exclusives. known to and adopted by whiskey connois- ness as usual” will be coming soon for
“We got off to a very good start in seurs around the world.” travel retail.
these endeavors three years ago with the 2020 was supposed to be a year of “For the first time in a long time there
launch of Jack Daniel’s Bottled-in-Bond. celebration for Brown-Forman, with the is a sense of optimism in the air. While
It has enjoyed tremendous acceptance and company ringing in its 150th anniver- their rollout has sometimes been frustrat-
success over a relatively short period of sary. COVID-19 changed that tune, says ingly slow or cumbersome, the vaccines
time and has proven to be a favorite of dis- Bourdier. seem to be proving effective and are being
cerning travelers looking for some some- “It’s a bit of an understatement to strongly embraced by the general public.
thing a bit different from the Jack Daniel’s say that the actual celebration of our I know that Brown-Forman travel retail is
family of whiskies. The Bottled-in-Bond 150th anniversary in 2020 was a little quite anxious to get fully re-engaged in our
whiskey itself – a unique liquid bottled at a more muted than called for in our original business activities and I can only assume
higher proof - serves as a perfect comple- plans. However, we did make every ef- this enthusiasm is as strong in other travel
ment to Gentleman Jack and our Single fort to make the most of this remarkable retail companies and operations as well. As
Barrel selections which remain quite achievement and we used the occasion to to what is next, I would venture to say that
popular themselves. Given our success with move forward with the confidence that as long-haul international travel will be slow-
such brands in travel retail you can expect a company we had overcome even more er to engage but we are already seeing an
to see us continue to focus on bringing new grievous challenges in the past and that uptick in intra-continental flights in Asia,
premium spirits into the channel. we would survive this as well. As far as Europe and North and South America.
“Regarding Old Forester, as our found- extending the celebration into 2021, I “As far as portfolio adjustments dur-
ing brand it holds a special place in the think that as normalcy creeps back into ing COVID, we saw no need to do so. The
heart of the Brown-Forman family. It is an our lives everyone within Brown-Forman attributes that contributed to the popularity
exquisite bourbon with steep authenticity and out will be in a celebratory mood of Jack Daniel’s and Woodford Reserve
and ancestry and enjoys quite a following as we engage in – and relish – what was pre-COVID – great taste, authenticity and
in the United States. It will be a key task of formally referred to somewhat derisively premium value – will still be in force with
the Brown-Forman global travel retail team as ‘business as usual.’” the resumption of normal international
is to establish it in new markets and make it Bourdier is optimistic that this “busi- travel and commerce.”

The Virtual Summit of the Americas Issue April 2021 44