On this episode of The Velocity of Tradition podcast, Suzy founder and host Matt Britton sits down with Paul Basford, U.S. president and managing director of William Grant & Sons. Basford shares insights into driving progress, navigating shifts in shopper habits, and embracing premiumization throughout William Grant’s portfolio of high-end spirits.
William Grant & Sons is a world chief within the premium spirits business, boasting a wealthy heritage with iconic manufacturers corresponding to Glenfiddich, Hendrick’s Gin, and Tullamore Dew. As shopper preferences evolve, sustaining cultural relevance whereas preserving the historical past and high quality of those premium merchandise has by no means been extra essential.
“Hendrick’s is much from standard,” Basford says on the podcast. “Yearly, we introduce a limited-edition taste that’s collectible. It’s one of many methods we hold the model recent and fascinating, regardless of being round for many years.”
Basford brings many years of expertise within the beverage business. Earlier than becoming a member of William Grant & Sons, he held management positions at different beverage giants like Diageo, driving success throughout completely different classes. His strategic management has propelled William Grant’s manufacturers to new heights, making him a revered determine in each the spirits business and broader enterprise panorama.
Hearken to Paul Basford on the Velocity of Tradition podcast and achieve insights into evolving shopper traits and the methods driving progress within the premium spirits business.
Key takeaways:
01:30-06:30 Development On- and Off-Premise — Paul emphasizes William Grant & Sons’ strategic steadiness between on-premise (bars and eating places) and off-premise (retail) gross sales. Through the pandemic, when bars and eating places had been closed, the corporate shifted its focus towards off-premise gross sales. Now, as bars reopen, the corporate is reinvesting within the on-premise house, recognizing its significance for constructing model experiences. Whereas retail channels nonetheless drive important income, the twin focus permits William Grant & Sons to leverage each avenues for progress.
06:35-13:00 Driving Innovation in Premium Spirits — Hendrick’s Gin has set itself aside within the crowded spirits market via steady innovation, a key component in its ongoing success. Paul highlights the “Cupboard of Curiosities” sequence, the place Hendrick’s releases limited-edition flavors yearly. These releases, corresponding to this yr’s Grand Cabaret, which options stone fruit undertones, hold the model related by offering customers with new and thrilling choices. By creating anticipation for these restricted releases, Hendrick’s has maintained a loyal following and continued to seize shopper curiosity, showcasing the ability of innovation in product growth.
