It seems that owning a brand of tequila is now the ultimate status symbol for celebrities. There’s Casamigos (George Clooney), Teremana (The Rock), Lobos 5 (Lebron James), Villa One (Nick Jonas), 818 (Kendall Jenner), and Casa del Sol (Eva Longoria) to name a few. When Michael Jordan came into play, GOAT’s goal was to make nothing short of “the best tequila in the world.”
In the summer of 2016, Jordan, Los Angeles Lakers owner Jeanie Buss, Milwaukee Bucks owner Wes Edens, Boston Celtics owner Wyc Grousbeck, and his wife Emilia Fazzalari got together for dinner and bonded over their shared passion for tequila—and the idea for Cincoro Tequila was born.
“We created our mission to create the ultimate, delicious-tasting tequila. That’s how it all started and it’s been our North Star ever since,” Fazzalari, who is now the brand’s CEO, told Yahoo Finance.
Together, the five owners hold an incredible 35 NBA championship titles (Celtics 17, Lakers 16, Bucks 2 & Jordan’s 6 as players) and the unique five-sided Cincoro bottle symbolizes their partnership. They work hard not to be perceived as just another prominent brand. “We are concentrating on the liquid. We don’t care about fame. It’s about creating an absolutely delicious tequila,” said Fazalari.
With prices ranging from $89.99 for Blanco to $125 for their bestselling Anejo, Cincoro has sold more than 1.5 million bottles in three years. This month, Cincoro will be introducing a new $350 per bottle strain that’s a blend of their flavors. Gold is barrel aged for more than 40 months with notes of sweet honey, toasted oak, vanilla and dried fruits, Fazzalari said.
According to industry analysis by IWSR, tequila sales are up 17% year over year, and tequila is poised to become the most valuable spirits category in the United States. “It’s actually the fastest growing part of the category. So we believe Cincoro can lead the ultra-premium segment, and we believe our amazing ownership group will help us break through and go global in a big way.”
Unlike the NBA, there’s plenty of room for multiple winners in the tequila game, Fazzalari said. “We’re seeing consumers continue to drink higher-quality spirits,” with the tequila category “expected to grow to about $15 billion by 2025.”
Numbers like these are sure to lure more big names into a celebrity-filled space, but this group embraces competition. “For us, it’s about working hard and staying focused on our mission to create a cross-generational brand,” said Fazzalari.
So how does Michael drink it? With an orange and a big rock, she said.
David Briggs is anchor at Yahoo Finance. Follow him on Twitter at @davebriggstv
Read the latest financial and business news from Yahoo Finance
Download the Yahoo Finance App for Apple or Android
Follow Yahoo Finance on Twitter, Facebook, Instagram, flipboard, LinkedInand youtube