COURTNEY DORNE AND J SMOKE WALLIN JOIN VERTICAL COMPANIES EXECUTIVE LEADERSHIP TEAM

COURTNEY DORNE AND J SMOKE WALLIN JOIN VERTICAL COMPANIES EXECUTIVE LEADERSHIP TEAM

VERTICAL EXPANDS EXECUTIVE TEAM; CEMENTS LEADERSHIP IN LEGAL CANNABIS INDUSTRY

Courtney Dorne, J. Smoke Wallin bring significant executive experience in Food and Alcohol Beverages to one of country’s leading medical cannabis companies

Los Angeles, CA (January 25, 2018) – Vertical, one of the country’s leading vertically integrated medical cannabis companies, announced today the addition of Courtney Dorne and J. Smoke Wallin to their leadership team.  Dorne is an entrepreneur and food industry leader who joins Vertical as a partner and President of Vertical Brands Co.  Wallin is a serial entrepreneur and thought leader in the beverage alcohol industry and has joined as a partner, Chief Marketing Officer and President of Vertical Distribution Co.

Vertical was founded in 2014 by entrepreneurs who saw the potential created by the transition of cannabis to a legitimate and legal business. Drawing from results-driven expertise in a variety of industries, the Vertical team has a synergistic energy that offers proven experience from seed to sale.

“I’m thrilled to welcome Courtney and Smoke to our executive team,” said Todd Kaplan, Founder & CEO of Vertical.  “Smoke’s deep knowledge of alcohol distribution and scaling new businesses in highly regulated industries, combined with Courtney’s perishable food distribution and extensive network strengthen our competitive advantage in the rapidly evolving legal medical cannabis industry.”

According to The Arcview Group, the U.S. legal cannabis industry represented over $6.7 billion 2016 and is expected to grow to between $22 and $50 billion over the next 10 years. Legalization of the medical cannabis industry began in 1996 with California’s passage of the Compassionate Use Act.  Since then it has operated in a quasi-legal environment with conflicting laws throughout the land, while growing exponentially.  2014 marked the beginning of adult recreational cannabis legalization with Colorado and Washington leading the way.  Today there are 29 states that have legalized either medical only or medical and adult recreational cannabis production, distribution, retail and consumption.  Gallop recently reported 64 percent of Americans support cannabis legalization nationally. In this vibrant space, Vertical is a pioneer and is the first to offer fully integrated services from legal compliance and operation of cultivation to extraction, product development and marketing.

Dorne brings literally a lifetime of experience in food services and the restaurant industry to Vertical. From her family’s restaurant to founding the giant Fresh and Ready Foods, Dorne has a proven track record in food manufacturing and perishable packaged food distribution and has built an extensive network of customers ranging from airlines and hospitals to convention centers, the military and convenience stores, all the while working under the rigorous scrutiny of FDA and USDA regulations.  She is a member of the YPO Global One chapter and is the current Chair of the Women’s Network (WYN).

“After years of suffering from debilitating pain and crippling migraines as a result of extensive surgical procedures, I learned first hand about the efficacy of cannabis on pain management,” said Dorne. “All too often our culture is quick to treat pain with a pill and we’ve all seen what that has gotten us. I believe that legal cannabis can be a part of a legal, safer and healthier alternative and I’m thrilled to join the team that can help make this happen.”

Wallin comes to Vertical by way of Taliera, a company he founded in 2005 to create, acquire, manage and advise brands in the beverage space. His career in beverage alcohol has included serving as Chairman & President of the Wine & Spirits Wholesalers of America (WSWA) and EVP and CFO for National Wine & Spirits (now part of RNDC/Breakthru). He is also active in YPO as Chair of the Beer, Wine and Spirits Network and has been active in legislative and regulatory affairs.

“I have always loved innovating, doing deals and building enterprises to scale, particularly in the beverage alcohol space,” Wallin said.  “I’ve been studying high potential growth brands and companies, and Vertical and is at the forefront of the rapidly growing legal medical cannabis industry. Both industries are highly regulated and for some time I have been expecting them to converge. The recent investment by Constellation Brands[STZ] in Canada’s Canopy Growth [WEED] validated my premise, and I couldn’t be more excited to be part of the team building brands and distribution in a market worth $100s of billions globally.”

Wallin continued, “I can’t help but think of Sam Bronfman in 1933 at the Repeal of Prohibition who went on to build Seagram into the alcohol industry leader it became before selling to Diageo and Pernod Ricard. Vertical is positioned to achieve that level of success.”

About Verticalâ„¢

Vertical is one of the first and largest vertically integrated companies in the legal medical cannabis industry. It’s operations in CA, AZ and OR combined with strategic partnerships in CO, MI, and NV position it well to take advantage of the rapid legalization and normalization of cannabis globally. Vertical is led by an executive team of entrepreneurs and business leaders from the alcohol beverage, agriculture, CPG, distribution, entertainment, food and medical industries. Vertical’s operations include planning, permitting, development and operation of cultivation, extraction, manufacturing, distribution and retail facilities.  It has world class capabilities in product development, co-packing, branding, marketing, education, and legal compliance, Vertical does Everything Pertaining to Green. For more information visit www.vertcos.com.

Cannabis, Crypto — Craft Beverages & DOT.Com Observations

Cannabis, Crypto — Craft Beverages & DOT.Com Observations

[ALSO PUBLISHED ON: LinkedIN, MEDIUM]

I spent a fascinating week learning about two of the hottest investment and business opportunity spaces right now. The block chain, crypto and initial coin offerings (ICOs), and the cannabis industry are literally on fire. Given this, I wanted to get an understanding of what’s really happening. I’ve been following the development of the block chain/coin movement along with the emergence of the legal cannabis business as these both are displaying signs of developments that may cause massive disruption (and therefore potentially big opportunities). Venture capitalist Tim Draper has been an outspoken proponent of the block chain and crypto offerings (see Exclusive: Billionaire investor Draper to participate in blockchain token sale for first time), while Jamie Dimon of JP Morgan Chase has been dismissive (see CNBC).

Constellation Brands (STZ-B) announced recently that it had agreed to take a 9.9% minority stake in the $2 billion Canadian medical marijuana company Canopy Growth. The stake is worth about $191 million, though Constellation will have the option of purchasing additional stakes in the future. This aggressive move marks a significant milestone with the first publicly traded US company making a material investment in the cannabis space. For the industry in which I have spent much of my business career — beverage alcohol (beer, spirits and wine), it’s also a taboo shattering wake up call. The financial community apparently agrees with the financial analysts, giving high marks for Constellation’s vision and the market supported it with a gain of over $1 billion in STZ’s market cap (essentially more than paying for the investment). Visiting Colorado frequently, I’ve seen how quickly the legal use of medical and recreational marijuana has ramped up with the state of CO taking in over $550 million in tax revenue as of July 2017.

To learn more about each of these rapidly developing industries and to test my hypothesis of potential disruption, I attended the StartEngine ICO 2.0 Summitin Santa Monica followed by the MJBizCon in Las Vegas which together gave me an interesting perspective. Here I will share some of my observations.

General Observations

First, I met a number of really smart people pursuing these industries with a wide range of business and investment strategies. I had the good fortune to join up at YPO meeting-in-meetings at both events and, as usual, learned a great deal from these informal gatherings and met some of the people leading the way in both industries. I cannot say enough good things about the YPO network and the ability to quickly get to the movers and shakers in any industry or geography, globally.

The hype around these industries surpasses the craft alcohol craze and matches Dot.com in 1997–2000. I know both of these booms well having participated by investing and starting my own DOT.Com eSkye.com raising over $55 million (Tim Draper’s Dad, Bill Draper, invested see Forbes) and my multiple ventures in the craft beverage space. The bright light inevitably attracts all kinds of people and as in both of these examples, there are a ton of people who have limited or no business skills coupled with business ideas/plans/ventures with little to no chance of scaling to success. The cannabis side has more similarities to craft beverages in that it appears that 95% of businesses currently in or entering the space are really “mom and pop” operations that are more lifestyle businesses than scalable enterprises. However, what is absolutely clear to me is that, this is changing rapidly with the addition of serious investors and business operators.

Block Chain — ICO What is it?

The technology of the block chain is real and big. I’m convinced over time, it will fundamentally change the financial side of all industries. This MIT Sloan article does a pretty good job of discussing the potential. Its potential is hard to overestimate but not without controversy. See John Battelle’s discussion of it here Alien, Dismissible, Dangerous, Greedy, True and the fights going on inside Venture Capital firms here CRYPTOCURRENCY MANIA FUELS HYPE AND FEAR AT VENTURE FIRMS .

For my non-technical friends, I’ll try to define it here in my own way. For my expert friends, let me know what I get wrong as I’m still learning. The best simple explanation I’ve found so far is A Blockchain Explanation Your Parents Could Understand. Essentially, instead of a central party (think a bank) keeping track of everyone’s money and transactions with each other, the record keeping takes place in public (without revealing names) with 1,000s or more independent operators verifying the information and agreeing on its accuracy before securing it. While banking and financial transactions are the first use, there are many other uses being worked on and many more to come.

The ICO “Initial Coin Offering” market is booming with new business ideas for the application of this technology. Over $2.8 billion has been raised using ICOs thus far in 2017. These have been unregulated and range from real businesses to potential frauds. The ICO 2.0 Summit put on by StartEngine was really about bringing the ICO market into the regulated security market in the US. It is clear to me, from the many presentations, that an offering for a coin to fund a venture is an offer for a security, and therefore falls under the SEC. There are many in the crypto world who dislike this and will fight it, but governments are not going to simply sit back and allow investments outside their mandated oversight just because they are called “coins”. Given that, I agree with StartEngine’s CEO Howard Marks that the crowd funding Regulation A and also traditional Regulation D exemptions are the proper way to issue an ICO in the US.

Lou Kerner gave an excellent presentation based on his article, Is Crypto (Like) A Religion? & 6 Other Crypto Thoughts .

He followed this with a very interesting fireside chat with Michael Jones CEO of Science who is serious about the space and currently has an ICO in the works.

We heard from 17 companies planning to do ICOs of some kind. Again, I can’t help but compare this to DOT.Com days as there were clearly real business ideas and teams and others that are simply slapping the ICO label on something that is really not well thought out. What was true back in 1997–2000 in DOT.Com is true today — there are and will be billions of dollars invested in the block chain space, some of it will go into real business ventures and some of it will go into not-so-serious business ventures. Sorting these out will not guarantee your investment is the next Google or Amazon, but is absolutely the key to avoiding almost certain failure.

Cannabis — Marijuana Industry — Where is it now and where is it going?

From a story in Fortune Magazine regarding Constellation’s investment — “The wines and spirits conglomerate has no intention of selling cannabis products in the U.S. until it is legal nationwide. But the company is betting that legalization is just a matter of time, according to the  Journal . However, Constellation may soon sell the marijuana drink product in Canada, where legalization of edible and drinkable cannabis products is expected by 2019.

The move comes amid signs that suggest some consumers are reducing alcohol usage in favor of cannabis . “We believe alcohol could be under pressure for the next decade,” Cowen analysts led by Viven Azer wrote in an April note. “Consumer survey work suggests [about] 80% of consumers reduce their alcohol consumption with cannabis in the mix.”’

Given the above, what is the current state of the legal cannabis industry and where is it going?

The legal industry today is estimated at $5–6 billion and expected to grow to $12–17 billion by 2021. While this is only a fraction of the US alcohol market which stands at $200+ billion today, it could take some of that business (especially in beer in my opinion). So it’s big already and its going to get much bigger quickly. State legalization started with medical use and they are rapidly adding recreational. Cassandra Farrington, CEO and Co-founder of Marijuana Business Daily who put on the conference gave a great presentation on the history of the industry. Basically, the timeline she presented is as follows:

· 1996 California passes first medical marijuana law

· 1998–2008 other states follow

· 2012 Colorado, Washington pass recreational cannabis laws

· 2014 OR, AK add recreational. Canada liberalization takes root.

· 2016 11 legalization ‘wins’ in the US — 4 medical and 4 recreational via ballots and 3 medical via legislative action. Importantly, CA adds recreational in January 2018

Here is a map showing the current state status:

Over ½ the US population lives in states with legal marijuana use — with 30 states + Washington DC allowing legal medical use and 8 states plus Washington DC allowing recreational use. That being said, it is still 100% illegal at the US federal level. This means there are significant risks and hurdles for investors and businesses who enter the space. Banking is very difficult as the national banks cannot conduct business in the space. Anyone contemplating investing in the space needs to be aware of these issues. In spite of these challenges and an uncertain regulatory environment, many investors and business owners are jumping in with both feet.

One of the best presentations I heard was by Patrick Rea, the managing director of Canopy, an early stage fund that has made more than 100 investments in the space. He breaks the business down into four investment buckets:

  1. Public Stocks — these are the Canadian companies like the one Constellation invested in.

2. Real Estate — this is the buildings for dispensaries and the land for farms

3. Touch the Plant — these are the actual growing, processing and selling businesses

4. Ancillary Products & Services — these are all the things around the business from software to equipment to banking to marketing.

Canopy is focused on #4 exclusively but there are certainly opportunities in all of these.

From a branding and stage of industry development perspective this is literally a “green field”. I saw some interesting but nascent offerings given the time businesses have had to think about and try to develop brands. With new entrants, this will of course change, but right now I can’t help but think it is like the days when Sam Bronfman and Lewis Rosenteil were at the cusp of the repeal of Prohibition ready to launch Seagram’s and Shenley’s whiskies into the US respectively.

Where is this headed? It’s hard not to believe there will be continued legalization on a state by state basis. With the overwhelming majority of American’s viewing legal cannabis favorably, and importantly with the amount of tax revenue legal markets are bringing, other states will certainly follow to not get left out. Federally it will likely take longer, but like alcohol and the repeal of Prohibition, it will probably only happen if it is left up to the states to decide how their citizens want to allow cannabis regulation.

What’s clear to me is that there are huge opportunities in both these new industries. What is unclear is who will emerge as the big winners. I know from personal experience what being ahead of the market is like. The next few years will be like settling the wild west and a lot of entrepreneurial ventures will be created to try out different ideas in both cannabis and blockchain. I will come back to these topics as I learn more on both and please share any thoughts you may have. Cheers!

included in this article Howard Marks Tim Draper John Battelle Lou Kerner Patrick Rea StartEngine Constellation Brands Canopy Growth Corporation MJbizwire Jamie Skella WIRED Erin Griffith Phyllis Berman YPO Michael Jones Cassandra Farrington Seagram Fortune Magazine Jamie Dimon

Evolving Drinks Brands

Evolving Drinks Brands

Evolving Drinks Brands banner

I recently read and shared an article in Forbes by Patrick Hanlon called, “Why Brands Must Evolve” that is so spot on that it has led to a number of interesting conversations in the past week with some of my clients and partners who own brands in beer, wine and spirits. As one who spends a lot of time thinking about new brands, as well as igniting established brands in new ways, Patrick’s thoughts really resonated with me. I don’t think there is a better industry than beverage to illustrate his points about what is going on with brands. Brand proliferation is happening across the board making “breaking through the clutter” ever more difficult. At the same time, the reason this is happening if fundamentally that there is demand for new brands. As I wrote in “RE: Is Craft Beer In A Bubble”, there is a big and growing market for new brands in beer, but also in wine and spirits. Not everyone will succeed and in fact many new brands will fail. To the big brand manager, the fundamental challenge has also never been so big – how do you keep a loyal following when your following gets gigantic. I think about an Iconic brand like Patron Tequila. I was a distributor for Patron as it passed between different sales companies and was a very difficult sell. Five years from the time it launched, Patron was doing about 55,000 cases. Now that is a nice little brand, but nothing would have screamed, “This brand is on fire!” Then, it did catch on fire and became the very symbol of luxury. Check out Patron case sales for the first 10 years:

Patron sales first 10 years

Patron is an amazing brand and continues to outsell all of the other super premium tequilas (and frankly all other spirits brands at $40/750ml bottle and higher). They have a huge and loyal following. However, as brand manager for Patron today, the things one has to do to market the brand are quite different than in the early years. How does one keep the “cool” factor going when you are the largest brand in your category. There are dozens of new entrants who are going after their market and have the advantage of being smaller (think Avion, Casamigos, Don Julio) and bringing a new “cool” factor to the market. Clearly there are many that succeed at this but being true to your brand and your audience while changing things up can be quite difficult. Absolut Vodka was THE luxury brand of the late 1980s and early 1990s. It was the “it” brand among the “it” crowd.

Andy Warhol Absolut IMG_6541

Pernod Ricard paid over $8 billion to acquire the brand a few years back. How does Pernod now manage a giant brand that was formerly the top luxury vodka in a market with such massive proliferation of brands that the high-end vodka category has experienced. I’m told there are 800 vodkas in the Beverage Media New York book. Pernod recently announced a new bottle. Absolut is one of those brands that defined itself by its bottle.   Changing the bottle is a big move even in subtle ways. Adding the big A is a pretty big move. Large companies don’t usually make big moves, but staying relevant in a crowded market sometimes requires big moves.    Pepsico made an even bigger move a few years back with their Gatorade brand. I thought at the time, it was fairly risky, but it appears to have paid off (does anyone know details?).

gatorade new gatorade old label

Patrick’s article certainly cites a number of great examples of big brands that have managed to evolve over time and keep or even build on their past successes. “…the challenge for brands has evolved from creating awareness to creating meaning.” How do you keep creating meaning at scale like Nike, Apple and Disney have successfully done.  They each connect to their consumers and continually create meaning.

The wine market has evolved so dramatically, that I have to look up many of the brands on the grocery shelf today and I have been involved in selling $100s of millions of wine over the years. Why? New brand proliferation to attract the millennial consumers.

barefoot wine logo Meiomi wine

Take a look at the top 10 domestic “Hot Brands” put out by Marvin Shanken’s Impact Databank:

  1. Barefoot
  2. Black Box
  3. Bota Box
  4. Liberty Creek
  5. Boggle
  6. Apothic
  7. 14 hands
  8. Barefoot Refresh
  9. Gnarly Head
  10. Meiomi

Four of these are Gallo Brands, but none say Gallo. All have interesting, contemporary labels. To succeed in this hyper-competitive market, every brand must have a number of things. Great branding is vital, without it your brand is lost and has no chance. Great liquid that fits the taste of your target market is key, without it they won’t buy a second time. Distribution is essential, a brand cannot become relevant if consumers can’t find it. But how does a brand build a real following of consumers who care? That is, how do we create meaning? That is the question every new brand team needs to answer.

 

To quote Patrick again: “We want the added value of believing in something. The added value of belonging to something: being a part of something that hard-wires us to a larger community of “people like me””

 

Seth Godin in his fantastic book “Tribes” articulates this concept well.

“Seth Godin argues the Internet has ended mass marketing and revived a human social unit from the distant past: tribes. Founded on shared ideas and values, tribes give ordinary people the power to lead and make big change. He urges us to do so.” Brands have to figure out how to reach their tribes and how to engage with them. Notice, I did not say create their tribes. This is an important distinction. I believe tribes are discovered not created. Brands who overtly try to create one typically struggle. If a following is not organic, today’s savvy consumers sense it.   I think brands can make themselves relevant and worthy of a following and then as that following begins to show signs of life can play a role in fostering and accelerating it.

 

I’d love to hear your stories of brands you think are doing this right.

 

Cheers,

 

Smoke

 

Mixing It Up With – Whisk(e)y, Wine, English Ale, Mixology, Chefs and National Hospitality Providers

Mixing It Up With – Whisk(e)y, Wine, English Ale, Mixology, Chefs and National Hospitality Providers

Slide1

Every once in a while, I take a step back and recognize just how cool this industry is and what a privilege those of us in the food, beverage and hospitality world have. This is not to say all of you in other industries are not cool or that ours is so much better. It is simply a fact that this one is a lot of fun.

I spent the past week mixing it up with celebrity mixologists, chefs and a whole bunch of smart industry people who are making their mark in their own ways. The Rancho Bernardo Inn in San Diego, CA did a fantastic job of hosting our group.   A special thanks to Director of Food & Beverage, Jocelyn Kraus and Executive Chef Carissa Giacalone.  Aside from the amazing food and beverage we experienced, one thing that struck me from these industry leaders is the appreciation of history and those who came before us.

In his excellent presentation on his journey in mixology, Tony Abou-Ganim “THE MODERN MIXOLOGIST” offered his insights on the industry as a whole, both past and present and how the industry evolved right before his eyes. I loved his personal stories of getting started bartending and his open appreciation for the individuals who helped him along the way. That’s really what makes the hospitality industry special. The people are what make great service and experience. The people who come before you and help you along the way, are the foundation for everything that you get to do and be.

Tony Abou-Ganim modern mixologistIMG_1317 IMG_1318

Tony gave thanks to the legendary Dale DeGroff “THE COCKTAIL KING” who gave him an early appreciation for loving what you do and taking pride in it. It was not so long ago that everyone bartending or waiting tables was doing it to get the next “real” job. Today, there are a whole generation of young people who are pursuing their passion with the explicit goal of being an excellent mixologist, brewer, wine maker, hospitality professional. Dale also recommended Tony for the newly created Director of Beverage role at the newly opened Bellagio way back when, that changed his life forever. Dale gave us a true appreciation for the great mixologists of the 1800s and pre-Prohibition era. His entertaining and spirited history of bitters was fascinating to experience, as we tasted 6 different modern bitters.

Craft of the cocktail by DeGroff Dale Degroff  IMG_5101

Tim Kirkland “THE RENEGADE SERVER” gave us incredible insights into the simple nuances of what separates truly exceptional hospitality service operations from merely good ones. His observations on customer service have direct application to training and inspiring front line crews to sell more and serve better. Michael “Bumby” Bombard “Straight Up Solutions” shared his learnings in cocktail menu development and presentation including a valuable discussion on glassware, ice and a drill down into garnishes. Its all about the presentation.

Tim Twitter Profile Blue trs_Book_shotIMG_1324 IMG_5090

We had the opportunity to share some of the finest beers in the world with my industry friends. Anyone who has visited an English pub would recognize Old Speckled Hen, the #1 English Ale.

old-speckled-hen-cans IMG_5097 IMG_5104

It was fun to introduce this quirky English brand to the hospitality folks in attendance. Judging from the response, there will be some Hen coming to a restaurant near you soon.

Chef Kathy Casey of Liquid Kitchen and Master Mixologist & Chain Accounts Manager for Beam Suntory Philip Raimondo shared a fun presentation of “Bar Redux” – in which they discussed new ways to train hospitality operator staff, jazz up your drink program and bring your bar layout up to date. Of course, Phil also served as lead pianist and singer for the groups late night escapades, all legendary, none reportable.

IMG_5111 D'Lish Eggs by Kathy Casey

In Whisk(e)y “Boot Camp” we took a tour around the world from Scotland to Ireland to Canada and the US and back to Scotland. Led by the knowledgeable William Grant & Son’s Whisky Team, this fun survey of different styles of whisk(e)y was enjoyable and informative. Interesting facts – top Scotch whisky export markets 1. USA 569$, 2. FR 330$, 3. Singapore 288$, 4. Germany 138$ 5. Spain, 6. Taiwan. Among my favorites were the Glenfiddich 15 Solera and The Glenfiddich 18, but there were many other excellent ones including The Balvenie 21 and Irish Tullamore Dew. Monkey’s Shoulder was interesting too.

Glenfiddich 12 Glenfiddich 15 Solera Glenfiddich 18 IMG_5112

After the whisk(e)y tasting, several chefs joined me to taste some Scotch along side some BELHAVEN beer, Scotland’s #1. The BELHAVEN BLACK was particularly popular among the culinary set as an accompaniment to the fine sipping Scotches. We all decided this would be an excellent way in which to offer guests an enjoyable and true Scottish experience.

IMG_5094 IMG_5096 Belhaven Best

Celebrity Chef Rick Moonen (rm seafood at Mandalay Bay) shared inspiration at the final dinner as he gave us a fireside chat tracing his culinary roots to the great NY French restaurants and today with his focus on sustainably and seafood. Rick shared his great successes as well as some of the tough times he experienced during the downturn and how he had to be resilient and reinvent himself and his restaurants to survive. I love what he is doing with mixology and cannot wait to go check out his newest iteration in Vegas (RX Boiler Room)! We played a tasting game, whereby we all tasted different ice cream creations of his and had to guess the flavors. It was quite difficult but enjoyable. Apparently he does this regularly with a group of sommeliers in Vegas but instead of 3 types, he gives them 16 types to guess. Yikes!

IMG_5113 rm ice cream creations RX Boiler Room

As always, “The DUTCHESS”, Jen Robinson was the hostess with the mostess and kept everyone moving and staying on track at the Executive Hospitality Exchange West #HEEWEST. Thanks Jen for an enjoyable experience once again and I look forward to our next adventure together!

HEEWEST Selfie selfie 2 HEEWEST

There are many other great stories, but alas, not for this post (not mentioning any names Mike Tolley “Beverage By Design”). It was great spending time with some of the leading hospitality accounts and learning how they are thinking about their businesses and how to compete and differentiate. There may be no more competitive environment than that of the restaurant and bar business. Many of the most successful in today’s environment are differentiating on service and their unique offerings. In many cases, the beverage side of the house offers the best opportunity to achieve this. I look forward to further discussions on this front with savvy operators and brands that want to activate their business.  My next such opportunity will be at the YPO Food & Beverage Roundtable in February where I have the privilege of being Co-Champion for the event. We expect 60+ F&B CEOs for an educational and enjoyable week hosted by Disney.

As Jack says… all work and no play, makes Smoke a dull boy …

 

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