Brown-Forman will report its year-to-date and third-quarter results on Wednesday (6 March). Here, just-drinks takes a look at the highs and lows for the company in the nine months to the end of January and its performance in recent quarters.
- Brown-Forman’s first Jack Daniels innovation for 14 years – Jack Daniel’s Tennessee Honey – performed well throughout the nine months, with the company doubling its whiskey barrel-making capacity in June to help cope with demand. Earlier in the month, Don Berg, Brown-Forman’s CFO, said the extension had a “halo effect” on the rest of the Jack Daniels portfolio, helping to accelerate sales instead of cannibalising them.
- In August, Brown-Forman launched its latest Southern Comfort ad, little realising the positive effect it would have on a brand that had been under increasing pressure from flavour innovations in vodka. The man-on-a-beach ad was an internet hit and helped US sales rebound, leading executives to hail Southern Comfort’s “dramatic improvement”. The campaign has since been extended.
- In September, Brown-Forman changed its Japanese distributor to Ashai after the company was dropped by Suntory. Suntory said it was upping its distribution of Beam Inc.
- In October, an analyst said Brown-Forman has a US$3bn war-chest and was gearing up for a vodka or whisky acquisition. Nothing has materialised yet, but in November, the company said it still has enough cash for acquisitions despite a $850m dividend payout.
- In October, John Sirchio stepped down as CMO, with his post being rebranded as chief brands officer. Lawson Whiting took over the newly-created position.
- In an exclusive interview with just-drinks, published in December, Brown-Forman CEO Paul Varga talked about his company’s moves in emerging markets and its relationship with Tequila.
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