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First. Purchase. From

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Wondery, I'm David Brown and this is Business Wars

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Daily on this Wednesday, April 17th. It's

0:53

no real secret that during the pandemic, folks

0:55

leaned into their cocktails a bit. Municipalities

0:58

across the country loosened local laws allowing

1:00

alcohol delivery both from liquor stores and

1:03

bars and restaurants in some cases. In

1:06

fact, the National Institutes of Health found

1:08

that alcohol consumption increased more

1:10

during the COVID-19 pandemic than in the

1:12

last 50 years. Just

1:15

as a rising tide lifts all

1:17

boats, the rise in imbibing has

1:19

lifted some spirits, spirits sales

1:21

that is. But as people

1:23

return to their lives and their offices,

1:26

they also gave up their cocktail indulgences.

1:29

Cognac, a form of brandy from a

1:31

region in Western France, was one of

1:33

the spirits that benefited from the pandemic's

1:35

alcohol boom. But over the past few

1:37

years, sales have fallen. Cognac brand Remy

1:39

Martin went all in on trying to

1:41

fight the fall last year. The

1:43

brand spent big on a splashy Super

1:45

Bowl ad featuring tennis great Serena Williams.

1:48

We claw with our

1:50

fingernails for that inch. Because

1:53

we know that's going to make the

1:55

difference between winning and

1:57

losing. The brand also partnered with Usher on

1:59

a global campaign featuring a track from

2:01

the R&B singer's new album. Still

2:04

all that marketing muscle wasn't enough to prevent

2:06

sales from slipping 35% of the first

2:09

half of the year, that according to Brand

2:12

Equity. As the company's CFO put

2:14

it, quote, This year is a very

2:16

harsh year for us. The company sought

2:18

to cut more than $100 million in costs. But

2:22

for Remy Martin rival Hennessy, Hope

2:24

springs eternal. Brand has

2:27

unveiled a new campaign called, quote, Made

2:29

For More. Through a series

2:31

of five short films, each featuring a

2:33

cognac based mixed drink, the

2:35

company hopes to showcase the spirit's versatility

2:37

according to the drinks report. In

2:40

other words, cognac isn't just for

2:42

sipping out of a sniffer after

2:44

dinner. Mixers extend the drinks versatility

2:46

and help appeal to a younger

2:48

audience, the report continued. The

2:50

film starred Tiana Taylor from Gonna

2:53

Love Me and Damson Idris from

2:55

Snowfall. Hypebeast says the films

2:57

are designed to, quote, shake up perceptions

2:59

of the leading cognac label. To

3:02

win over young consumers, well, that's exactly

3:04

what cognac brands like Remy and Hennessy

3:07

need to do, according to one industry

3:09

insider talking with Beverage Dynamics. Cognac

3:12

has traditionally been the drink of

3:14

mature affluent customers. But

3:16

younger drinkers want something new, and watching a

3:18

bartender come up with a new twist on

3:20

an old stand vibe can be fun. Brands

3:23

like Remy and Hennessy are hoping that

3:26

their newest target audiences will

3:29

drink to that. From

3:32

Wondery, this is Business Awards Daily. I'm

3:34

your host, David Brown, written by Gwen

3:36

Moran and produced by Jessica Yermosz. Our

3:39

executive producers are Tim Arubio and Andrew

3:41

Hulme. Hey

3:56

Prime Members, you can listen to Business Wars

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Daily ad Free on Amazon Music. Download.

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