Five NBA owners, including Michael Jordan, have launched an ultra-premium tequila brand. Image courtesy of Cincoro
While celebrity endorsements and partnerships are commonplace for many luxury brands, the impact can vary widely when it comes to the wine and spirits industry according to a new analysis by IWSR. From filmmaker Francis Ford Coppola to NBA icon Michael Jordan, a diverse group of celebrities have gone beyond endorsing wine and spirts labels to owning or producing new brands entirely. These investments have ranged from wine to tequila and gin, showing further diversity and interest in the industry. “Celebrities as paid spokespeople for brands is an inherent part of the business, from coffee brands to make up companies to cars,” said Brandy Rand, COO for the Americas at IWSR, in a statement. “As long as the celebrity is well-regarded by the public and stays that way, there’s limited risk to brands that develop good celebrity-centred marketing campaigns. Toasting to celebrities Brands such as LVMH-owned Champagne house Dom Pérignon and cognac house Hennessy have storied legacies and choose to limit celebrity involvement to endorsements and creative campaigns. For instance, Dom Pérignon created art through everyday life with a special photography initiative as part of its campaign with an ambassador who doubles as creative director. Musician Lenny Kravitz hosted a dinner party, featuring Dom Pérignon as its premier beverage, at his own home. A subsequent exhibit featured special moments captured by Mr. Kravitz without posing starring the variety of guests at the exclusive event (see story). Meanwhile, Hennessy has added Colombian recording artist Maluma (see story) and Malaysian-British actor Henry Golding (see story) to its diverse roster of ambassadors.
Hennessy partnered with recording artist Maluma. Image credit: Hennessy