Five NBA owners, including Chicago Bulls legend Michael Jordan, are launching the latest blend of their high-end tequila, Cincoro.
Their discussions evolved and they saw an opening in the market. Fazzalari said they made over 1,000 tequilas before finally landing on their taste profile. The meetings and tastings would often be scheduled around NBA board meetings.
In just three years, according to Cincoro, the label has sold 1.5 million bottles nationally and won 23 awards in accredited spirit competitions. Fazzalari said the tequila is in every major hotel chain, leading restaurant groups and many independent liquor stores across the country.While brands like Cuervo, Patron, Don Julio and George Clooney's Casamigos control majority of the market,data shows that Cincoro is a top-20 brand in terms of retail value contribution to the tequila category.
Cincoro said it strives to differentiate its product through unique flavors and its aging process. They begin with the harvesting of agave plants that are at least seven years of age in Jalisco, Mexico. The agave is slow cooked and fermented for six days and then it is aged in whiskey barrels. Its latest product, Cincoro Gold blends all of the previous expressions together to create a richer flavor. Fazzalari describes it as"reminiscent of a finely aged scotch or cognac.
Last year, total volume grew by almost 17% and value grew by more than 27%. Super premium-and-above tequila category – brands in the $30+ price band – are experiencing even larger growth, with volume growing by 36.5% last year and by almost 40% in value. By the end of next year, tequila is poised to become the largest spirits category in the U.S. in terms of value.
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