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Great Recession and the industry


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#1 NormaDesmondwas50

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Posted 13 March 2012 - 05:02 PM

How is the Great Recession affecting US distillers? Does absinthe have such a distinct market niche that demand hasn't suffered greatly? Do you anticipate much higher sales when the economy rebounds? I was afraid that the economy might dry up the producers of the American brands I recently discovered.

#2 Joe Legate

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Posted 13 March 2012 - 06:04 PM

When times are good, people want their booze.
When times are bad, people really want their booze!

Jokes aside, I have no idea how to answer your question. We have been distilling such a short time. As a matter of fact, we entered into this bidness because our various savings accounts were getting slammed by the market. After viewing a particularly painful quarterly report (a little over 4 years ago), I remember telling Jules, "We can lose our money as well as they can and at least have something to show for our efforts." We cashed in, took a penalty hit and never looked back.

Would I recommend what we did to anyone else? Nope. Are we having fun? Oh hell yes! Are we making money? I don't think so but we aren't in debt and our accountant is awfully cheerful. :g:

#3 Père Ubu

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Posted 13 March 2012 - 06:19 PM

Build a better mouse trap and the world will beat a path to your door.

Or in your case, make better hooch, and the FedEx will beat a path to my door. :)

#4 Ambear

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Posted 13 March 2012 - 06:26 PM

I have my first real job since college, so I feel like a millionaire compared to my ramen noodle days...and I was still scraping pennies together to buy absinthe then. Now I at least have quarters to scrape together. :laugh:
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#5 Joe Legate

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Posted 13 March 2012 - 06:31 PM

Or in your case, make better hooch,

I swear, I think we are getting better with every batch we make. ;)

#6 Père Ubu

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Posted 13 March 2012 - 06:45 PM

I will be watching Julie's shelves like a hawk. Actually, I might just pre-order them. She is very good about keeping us informed.
As much as I like the verte, it is the blanche that I miss. It has a sharp aroma and flavor that I have only sensed in WWB and Sauvage, but your blanche does that particular flavor better. Beats me what it is, but it is definitely there.

#7 fingerpickinblue

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Posted 13 March 2012 - 07:05 PM

See my latest list in the top ten thread.
blind man see her, dumb man call her name - Ed Bell

#8 Père Ubu

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Posted 14 March 2012 - 02:44 AM

9/10 great choices. Well I haven't tried BdJ but the reviews are nice. While I agree that the parrot is well crafted, and my wife loved it, my looney taste buds detected grapefruit.

#9 Père Ubu

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Posted 14 March 2012 - 02:51 AM

I want to try 1901 again when it lands here. I think I only gigged the neat appearance which for a bit was a QC issue, that seems to have been rectified. The changes to Lucid looks like QC issue had a talking to, or given walking papers, because the neat appearance of it changed a lot.

#10 billnchristy

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Posted 16 March 2012 - 09:32 PM

I will keep supporting Joe and his brethren (and sisteren).

Currently employed, might not be tomorrow...who cares? I'm educated, I'm smart, and if I really have to I can bust my ass.

:cheers:

#11 OMG_Bill

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Posted 17 March 2012 - 06:13 AM

I agree.

Your outlook is similar to mine. Well, I'm not educated or smart but I can bust my tired old ass if necessary.;)
Some folks may cringe each time I use the term "Booze" regarding these high quality drinks.
I mean no offense. There are bottles of extraordinary booze out there. I've tasted a few. Relax.

#12 Larspeart

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Posted 19 March 2012 - 08:42 AM

When times are good, people want their booze.
When times are bad, people really want their booze!


He pretty much nailed it, and studies have been done on this since way further back than I think you imagine. 'Vice' (not my definition) is generally the safest industry in hard times. It varies on individual basis, of course, but generally booze does well when times are bad.

The problem, for absinthe in particular, is that while folks buy booze... they tend to down-shelf in tough times, for the obvious reason that if you just lost your job yesterday, that bottle of Macallen 15 doesn't look quite as appealing as it did last week... and the bottle of Glenlivet just looked about $55 dollars more attractive.

The one buffer to that, though, is that high-end booze (like absinthe, and the above-mentioned high-end scotch) are viewed (especially in the past 20 or so years) as 'affordable luxury'. It's the "I may never have the $150,000 Bentley, but for 20 minutes, I can drink like the guy who owns one" thinking.

So again, booze does well, :) .

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#13 Alan Moss

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Posted 19 March 2012 - 09:27 AM

Recent analyst presentations issued by both Pernod-Ricard and Diageo confirm the very positive movement towards the more expensive end of their product portfolio in North America (and even more so globally). Of course for them, "more expensive" starts at $30/bottle and heads up to $1,000 and beyond.
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#14 Zzz

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Posted 20 March 2012 - 04:02 PM

I don't think the recession will have a substantial impact. As I recall, brands were running out of product back in 2008 when things were worse. When / if things recover, they'll be in a great position to expand.
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#15 NormaDesmondwas50

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Posted 21 March 2012 - 03:13 PM

Thanks fellows... I brought a bottle of Clandestine and MOL to a garden party last summer. I mentioned to a few college-aged fellows that I'm at a point in my life where I can spend a few $ on affordable luxury. They were very happy for me and themselves at that moment.


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