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BACARDI CASE STUDY
Transcript of BACARDI CASE STUDY
“We strive for a safer and more sustainable business environment to market and sell our products. We will achieve this by adhering to applicable laws, regulations and partnering with our competitors and others in responsibility campaigns and initiatives to reduce the harmful use of alcohol.”
Bacardi is founded by Don Facundo Bacardí Massó in Santiago de Cuba, when he revolutionizes rum as a spirit and the rum-making process by creating a smooth, light-bodied spirit – what the world now knows BACARDÍ rum.
Prohibition becomes law in the United States and Americans flock to Cuba to drink and enjoy BACARDÍ rum
1998 Bacardi acquires DEWAR’S Scotch whisky and the BOMBAY and BOMBAY SAPPHIRE gin brands. Bacardi becomes one of the top four spirits companies in the world.
2002 Bacardi acquires CAZADORES 100% blue agave tequila, a top-selling premium tequila.
2004 Bacardi purchases GREY GOOSE vodka, the world’s number one super premium vodka.
BACARDÍ rum becomes the number one premium distilled spirits brand in the United States with more than 7 million 9-liter cases sold.
BACARDÍ rum recognizes worldwide sales close to 16 million 9-liter cases making it the world’s number one selling premium spirit brand.
BACARDÍ celebrates the production of its 200 millionth 9-liter case of rum since being exiled from Cuba in 1960
Bacardi Limited is formed, unifying five separate strategic operating units of the Company (Bacardi International Limited – Bermuda; Bacardi & Company Limited – Bahamas; Bacardi Corporation – Puerto Rico; Bacardi Imports, Inc. – United States; and Bacardi y Compañía S.A. de C.V. – Mexico).
Bacardi operations in Cuba are illegally confiscated without compensation by the Cuban government. Bacardi continues its operations from five other countries: United States, Mexico, Puerto Rico, Spain and The Bahamas.
2008 Michael Schumacher, seven-time Formula One™ racing champion, becomes the first-ever Bacardi Limited Social Responsibility Ambassador, when the Company launches its social responsibility campaign “Champions Drink Responsibly.”
Bacardi Limited achieves “Triple Crown” certification and leads the industry as the only major spirits company in the world to have all its facilities globally certified to be operating in accordance with the world’s most recognized standards for quality, environment, and health and safety – putting the company among an elite group of the world’s best-run companies.
BACARDÍ rum is awarded the International High Quality Trophy for BACARDÍ Gold, BACARDÍ 8, and BACARDÍ Reserva Limitada by the prestigious Monde Selection™ International Institute for Quality Selections. BACARDÍ rums top 400 awards – the world’s most awarded rum.
Bacardi becomes Cuba’s first multi-national company by opening operations in Spain when BACARDÍ rum is bottled outside Cuba for the first time in Barcelona, Spain.
Jose, D. Facundos third son, opened a sales office in Havan Emilio expanded to Spain (1910), United States (1915), new distillery in Santiago de Cuba (1922)
2015 Bacardi purchases Angel’s Share Brands, its subsidiary, Louisville Distilling Co., and its ANGEL’S ENVY™ brand marking the Company’s entry into the bourbon category of the North American whiskey sector.
The bat had always been a symbol of good fortune – Dona Amalia Bacardi spotted fruit bats in the family’s distillery and insisted that it be used as their symbol – remains on the bottle today helping the family survive whatever fate is thrown their way
Heavily Driven on Consumer Preference
Overly reliant on rum
Too reliant on North America and Western Europe Regions
Strong Competition from other brands and local products means market share growth restricted
Government rules and policies on drinking affects performance and sales
Non-alcoholic Bacardi branded beverages
Bacardi Branded food items
More penetration into International markets
New ways of distilling
Innovating marketing and branding
Grow a large presence in the wine market, single malt whisky market, and cognac and liqueur markets.
Continue growth of healthy beverages (low-cal, low carb, low sugar, etc)
Stringent advertising regulations
Criticism of irresponsible portrayal of alcohol
Limited Brand Loyalty
Low Calorie Drinks
Rising cost of goods and services
Brand Recognition and Loyalty
Lower Cost Producer
Popular within core demographics
Growing Product Line
Employee base of over 6000 and 27 facilities in 17 countries
Sells an average of 200 million bottles per year globally
Bacardi on a Global Level
“We believe self-regulation, as part of a legislative framework, is an effective way to manage the marketing communications that are essential to our commercial business”. They ensure their marketing does not promote inappropriate alcohol use and consumption. Their marketing team goes through intensive training on their global marketing principals and carefully markets the results and adheres to all local marketing and drinking regulations.
Implemented a third-party responsible sourcing aduit in 2014. These audits are important because they are a source of information about how suppliers operate with regard to human rights and labor, health and safety, environmental management, and business integrity. The Global Direct Spend Procurement team nominates suppliers from respective sectors and region. Works with Sedex in order to improve ethical business practices in global supply chains. This sourcing helps them to advance globally and keep their business ops ethical
Participate in a responsible champions drink responsibly campaign with their global responsibility ambassador and world tennis champion Rafael nadal. The campaign promotes the champions way which is a four key message designed to help consumers make the night a memorable one. Includes having a plan, a DD, quality over quantity, and caring for each other.
Deals with global operations such as marketing, finance, sales, legal, human resources, procurement, corporate affairs. Five geographical locations including North America, Europe, Middle East, Africa, Latin America, Caribbean and Pacific. They say “in order to help reduce alcohol related harm, we will play an influential role in encouraging responsible decision making by legal drinking age consumers and discouraging inappropriate consumption of our products”
Bacardi’s Global Leadership Team