EnDrinks-maker Diageo has acquired the Casamigos tequila brand from a group of investors including actor George Clooney. The company is attempting to expand its portfolio of “super-premium” brands for global export. Panjiva data shows that U.S. imports of tequila jumped 18.6% in April compared to a year earlier, bringing the quarterly total to 8.5%. That largely came at the expense of vodka, which saw a 24.5% drop though total spirits imports fell by 5.3%.
Source: Panjiva
Spirits demand in China expanded 12.9% in the three months to April 30, though that market is led by brandy, which accounted for 73.0% of Chinese imports in the past year. Tequila has, however, seen significant growth with a 48.0% expansion and now accounts for 10.1% of the market. Major importers are led by the duty free shops (ie tourism based) rather than mainstream liquor retailers.
Source: Panjiva
The largest exporter of tequila from Mexico is Casa Cuervo, owned by Becle. Shipments in total have stagnated recently, with shipments in total falling 13.8% in the past quarter on a year earlier, while Jose Cuervo exports fell 7.5%. That may in part reflect an inventory effect after a significant boost in shipments just ahead of the company’s initial public stock offering.
Source: Panjiva
U.S. spirits-makers have lost out more broadly in international markets. Exports in total fell 3.0% in the 12 months to April 30, reaching a trough in January not seen since December 2011. However there has since been a rebound 9.7% in the past quarter. That recovery, like the decline before it, has been driven by whisky exports which climbed 12.6% in the third quarter.
Source: Panjiva
