A group of NBA team owners that includes Michael Jordan is coming out with a new line of Tequila, but Jose Cuervo and The Rock have nothing to fear because this will not be competition to their low-priced, lower-grade tequilas. No, MJ and his friends are targeting the luxury market.
Cincoro was created by Jordan, Emilia Fazzalari, and Wye Grousbeck of the Celtics, Jeannie Buss of the Lakers, and the Bucks Wes Edens, and the new line is going to be called Cincoro Gold. Jordan said this would not be like anything else you’ve tasted, and he told CNBC he essentially wants it to be the liquid spirit equivalent of himself; the best ever.
“While the tequila space may be crowded, we are fierce competitors, and our portfolio reflects our passion and commitment to produce truly delicious and exceptional expressions.”
Well said, Michel.
It is not cheap. It will come out in limited quantities in October, and a bottle will cost $349.99.
As for how this group of five NBA owners whose teams fight against each other on the court can become business partners, Fazzalari said the idea was hatched when they were out to dinner one night in New York City before league meetings.
“It was the first time the five of us had ever gotten together for dinner, and something really special happened that night as we bonded as friends who are arch rivals. We started talking about how much we all love tequila and we realized we had this shared passion.”
Jordan has treated this venture like he would as a player with the clock winding down at the end of a close game; the ball is in his hands. He’s taken the lead. Here’s more of what Fazzalari told CNBC.
“Michael, in particular, he taught us how to drink tequila. He taught us how to sip tequila. He taught us he likes to drink it either neat or with one large rock and always a slice of orange, and you know it was all about chilling and enjoying the moment.”
As you can imagine, they are serious and expect to be dominant in their space. It took them 1,000 tries before they got their taste menu correct.
The market is there for them to be successful. In 2021 super premium tequila brands priced over $30 per bottle grew by almost 37%.
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