If reports by Miami Herald is anything to go by then it appears this is not the best of time for Bermuda-based iconic brand, Bacardi. The brand is reportedly finds itself struggling at age 153.
Family-owned Bacardi has a presence in more than 150 markets worldwide including the United States, Spain, France, the United Kingdom, Mexico, Germany, Italy, China, Brazil and Russia. With about 6,000 employees and 29 distilling, bottling and manufacturing facilities across 16 countries.
The Bacardi brand portfolio includes more than 200 brands and labels including BACARDI® rum, the world's best-selling and most-awarded rum, as well as the world¹s most-awarded spirit; GREY GOOSE® vodka, the world's leading super premium vodka; DEWAR'S® Blended Scotch whisky, the world¹s most awarded blended Scotch and the number-one selling premium blended Scotch whisky in the United States.
Part of the report reads: "Bacardi’s march through history may have slowed, at least temporarily, as the company faces a new set of economic challenges. The Bermuda-based company did not end 2014 in the highest of spirits.
"After seeing strong sales of its rum for decades and, more recently, steady demand for its other premium brands, Bacardi’s sales volume overall fell by almost 2 percent last year, to about 33 million nine-liter cases, according to estimates published in February by Shanken’s Impact Newsletter, a leading source of information on the global spirits industry. Its iconic line of rums, the core of Bacardi’s business, fell by an estimated 4.5 percent to around 18.2 million cases, the newsletter said.
"Bacardi does not typically release financial information, but one figure — taken from the company’s Corporate Responsibility report for fiscal year 2014 (which ended March 31, 2014) — indicates that overall sales may be stagnant. In the document, Bacardi said its net sales less excise taxes for fiscal year 2014 were nearly $4.6 billion. This is up only slightly from the last time Bacardi provided public figures to the U.S. Securities and Exchange Commission in fiscal 2008. At that time, during the recession, it reported sales excluding excise taxes of $4.5 billion".
Check out the original report on Miami Herald, Click HERE
Family-owned Bacardi has a presence in more than 150 markets worldwide including the United States, Spain, France, the United Kingdom, Mexico, Germany, Italy, China, Brazil and Russia. With about 6,000 employees and 29 distilling, bottling and manufacturing facilities across 16 countries.The Bacardi brand portfolio includes more than 200 brands and labels including BACARDI® rum, the world's best-selling and most-awarded rum, as well as the world¹s most-awarded spirit; GREY GOOSE® vodka, the world's leading super premium vodka; DEWAR'S® Blended Scotch whisky, the world¹s most awarded blended Scotch and the number-one selling premium blended Scotch whisky in the United States.
Part of the report reads: "Bacardi’s march through history may have slowed, at least temporarily, as the company faces a new set of economic challenges. The Bermuda-based company did not end 2014 in the highest of spirits.
"After seeing strong sales of its rum for decades and, more recently, steady demand for its other premium brands, Bacardi’s sales volume overall fell by almost 2 percent last year, to about 33 million nine-liter cases, according to estimates published in February by Shanken’s Impact Newsletter, a leading source of information on the global spirits industry. Its iconic line of rums, the core of Bacardi’s business, fell by an estimated 4.5 percent to around 18.2 million cases, the newsletter said.
"Bacardi does not typically release financial information, but one figure — taken from the company’s Corporate Responsibility report for fiscal year 2014 (which ended March 31, 2014) — indicates that overall sales may be stagnant. In the document, Bacardi said its net sales less excise taxes for fiscal year 2014 were nearly $4.6 billion. This is up only slightly from the last time Bacardi provided public figures to the U.S. Securities and Exchange Commission in fiscal 2008. At that time, during the recession, it reported sales excluding excise taxes of $4.5 billion".
Check out the original report on Miami Herald, Click HERE
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