Word: absolutisms
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Dates: during 2000-2009
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...their 10 years together, Rob and Nick have not entirely left their mainstream roots; they have become favorites of the advertising world--with commissions from Absolut Vodka and Land Rover--and the celeb set, selling their work to Elton John, David Beckham and other boldface names. The pair's next project: portraits--shot with an 886-lens camera of their own design. In this partnership, the future is light...
Pernod Ricard paid top dollar for Absolut because it believes its marketing muscle can increase sales from last year's 10.7 million cases. But the economics of producing vodka surely played a part in its calculations. Whisky and brandy spend years maturing in wooden casks before they can be sold, tying up cash in inventory, but vodka is practically an instant money machine. The chemistry is simple: ferment grain or potatoes or even grapes to make alcohol, then concentrate it by distillation. Filter the resulting colorless, odorless spirit, possibly give it a fruit flavor, push out the publicity boat with...
That's why Bacardi paid $2.2 billion in 2004 for Grey Goose, then a record for a single label, and why distillers are releasing new vodkas each week. Leading the field is Smirnoff, owned by Britain's Diageo, which dropped out of the Absolut bidding to buy a 50% stake in the Dutch premium vodka Ketel One for $900 million...
Pernod Ricard's task now is to goose Absolut sales. The vodka has come a long way since production began in 1879 in the southern Swedish town of Ahus. It remained a local brand for a century until 1979, when Russia invaded Afghanistan. Many countries shunned Russian products, including vodka. Absolut saw its chance to go international, and helped by what has become a memorable advertising campaign, it has never looked back...
...acquisition of V&S brings Pernod Ricard closer than ever to its goal of catching Diageo. The combined company will have global sales of 91 million cases, compared with Diageo's 93 million. Absolut alone will propel Pernod Ricard from fourth place to second in the North American market, with a 14% market share, compared with Diageo's 26%. Can the former pastis family business become the global drinks leader? The banks that financed the deal in a difficult market show that for some, at least, the answer to that question is Absolut...