Tag Archive | "Bacardi"

New Bacardi book traces roots

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Bacardi is the world’s top-selling rum with annual sales of 20 million cases in more than 150 countries. But it does not sell a drop in Cuba, where founder Facundo Bacardi first opened a tin-roofed, dirt-floored distillery on Matadero Street in the eastern city of Santiago in 1862.
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With thorough reporting and an eye for rich, often quirky detail, veteran National Public Radio correspondent Tom Gjelten traces the story of the Bacardi family, whose product helped shape Cuba’s soul until Fidel Castro nationalized the company’s facilities in 1960.

The Bacardis took communist Cuba to court to preserve their international trademark and eventually built a rum empire using operations in Puerto Rico, Mexico, Brazil and the Bahamas. “We just didn’t think to register the Bacardi trademark, so we lost it,” Castro said years later. “We had the factory that produced the real Bacardi rum, but we couldn’t keep the name.”

The Bacardis opposed Cuban dictator Fulgencio Batista and supported Fidel Castro. They even granted some workers leave to join his rebel forces, and the company’s chief executive, Jose (Pepin) Bosch, accompanied Castro on his first trip to the United States after Castro took power in 1959. Bosch ducked out early, however, already afraid of where Castro was leading the government.

After nationalizing Bacardi, Cuba began producing Havana Club rum, a brand it usurped from the Arechabala family, Bacardi competitors who did not fight to keep their trademark.

Bacardi eventually bought the naming rights to Havana Club from the Arechabalas and began selling its own version of Havana Club in the United States, touching off legal battles with Cuba that have yet to be resolved.

The case is complicated but, as Gjelten notes, its underlying issues are simple: “When could Cuban rum be sold in the United States, by what company and under what label?” Like so many facets of U.S.-Cuba relations, answering those questions is far from easy.

Original Source: WILL WEISSERT

Bicardi Store, Now Open

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The BACARDI Store - highlighting the world’s number-one selling premium rum - officially opened its much anticipated retail store on Bay Street in downtown Nassau, Bahamas on July 31st. The grand opening featured the international The first-of-its-kind BACARDI concept store, under a trademark license agreement with the Bacardi trademark owner, is owned and operated by the Bacardi Nassau-based distributor Bristol Group of Companies Limited.

The BACARDI Store provides an unparalleled experience for spirits consumers - with its premium, sleek design in keeping with the Bacardi image - featuring the Bacardi portfolio of products at duty-free prices and for the first time, a variety of high-end BACARDI branded accessories including hats, shirts, gym bags, umbrellas, towels and other items not available for purchase in any other retail store in the world. Also available at this one-of-a-kind store are premium spirits and branded items from other products in the Bacardi portfolio including Grey Goose vodka, Bobmay Sapphire gin, Dewar’s Scotch whisky and Cazadores tequila.

The BACARDI Store, just steps away from the cruise ship port and historic Nassau Straw Market, is expected to bring new excitement to the tourist district of Bay Street which is currently experiencing a revitalization effort.

“For many years, I have dreamed of being an active participant in the revitalization of Nassau and in particular Bay Street,” said Juan Bacardi, owner of Bristol Group of Companies Limited. “With the grand opening of The BACARDI Store, I am very excited to lead the charge of the revitalization of the Bay Street business and tourist districts with such a high-end offering. With the clout of the BACARDI name and its international appeal, we’re confident this store will serve as a ‘gateway’ to the east end of Bay Street.”
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Bacardi re-appoints Ralph Morera

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Graham Hetherington, enticed to Bacardi’s place in the sun last May after a long spell with its rival Allied Domecq, is on the move again – leaving predecessor Ralph Morera to retake the CFO post, and the industry wondering how fast the family-owned business can move down its emerging market acquisition trail.
The re-appointment of Ralph Morera as CFO of Bacardi has been widely interpreted as a step back towards tradition, illustrating the difficulty in bringing PLC-style change to family owned firms. Morera, already an executive vice-president, replaced Graham Hetherington on 1 January. Hetherington took over from Morera as CFO as recently as May 2007, but is now leaving to pursue other interests.

The eponymous rum-maker, which also owns bestselling scotch whisky and upmarket vodka brands, picked Hetherington for his drinks industry experience, and track record of developing financial management systems. But Hetherington’s earlier involvement in the restructuring of Allied Domecq encouraged speculation that he would be commissioned to make a similar shake-up at Bacardi. He spent 14 years at London-based Domecq, the last six as FD, before helping to arrange its acquisition by Fortune Brands and Pernod Ricard in 2005.

Pernod’s competitive path has since continued to cross with Bacardi’s, notably over the use of the Havana Club rum trademark. Bacardi, Havana-based until chased out by Cuba’s 1959 revolution, claims propriety over the name. But Pernod maintains its own product is the only authentic one because it is produced via a Cuban joint-venture, and it won a Spanish court ruling to this effect in March 2007.

Now headquartered in Bermuda, Bacardi remains the world’s largest privately-owned spirits maker, but has been appointing more family members to senior posts (including Hetherington to CFO) following the arrival of Andreas Gembler as CEO and president. While positioning for rapid growth in the biggest emerging markets, it has as yet seen no need for external share issue to raise extra funds.

The heavy promotional effort now under way for such premium brands as Bombay Sapphire gin in India and Leblon cachaca in Brazil, Morera will be one CFO with a particular interest in the accuracy of forecasts that the emerging world will ride out North America’s downturn in 2008.

Section: Breaking News Date: 06-Jan-2008
Author: Alan Shipman Source: Finance Week

42 Below

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Bacardi may stir up Martini play with 42 Below
5 Nov, 2007, 0043 hrs IST,Boby Kurian & Ratna Bhushan, TNN

BANGALORE / NEW DELHI: Bacardi may stir up Martini action in India. The world’s largest family-controlled spirits giant is likely to consider uncorking the flamboyant Italian vermouth brand even though timing of a possible launch is not known.

Bermuda-based Bacardi counts Martini & Rossi, made famous for vermouth varieties like Rosso and Bianco, as part of its global drinks portfolio following a merger with the Italian company in the early 90s. The move comes even as the liquor behemoth is in the midst of revving up its India business after bringing in a new operational head Mahesh Madhavan, who previously spearheaded Bacardi’s Thailand unit.
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