There are a handful of giant liquor companies that dominate the market. These companies are not great at starting new, small brands. So they don't -- they let others do that, and see what becomes (somewhat) successful. Then they swoop in and buy the brand, aiming to scale it up with their distribution clout and advertising and promotional resources. There are many examples of this, and I'll write about some on the blog. Here's the first: Hpnotiq.
Twelve years ago Raphael Yakoby, a college dropout with no business experience, had an idea: He'd create the first blue liqueur. Ignoring naysayers who told him nobody would drink a blue beverage, he sold his apartment, moved back into his parents' Long Island home and got to work. A year later Hpnotiq, a blend of vodka, cognac and fruit juices, was a nightclub staple, and he went on to sell the brand for a reported $50 million. Mr. Yakoby has now launched another brand, Nuvo, that I may write about later. Here's a great interview with him about both brands, and how he launched them.
Source: "Dream Job: Raphael Yakoby", NY Post, May 21, 2007
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