The inside story of how Michael Jordan and 4 NBA owners launched a super-premium tequila brand: by chloesorvino
Cinco Spirits Group
The partners won’t say whether they have plans to build their own distillery, but they have already invested several million dollars in the company. And they will need at least $10 million more if they want to grow, or expand to Asia, which Fazzalari says is within their sights. They may choose to make that investment themselves or bring in additional partners.
To help reach the team’s lofty goals, Cincoro has attracted some of the best talent in the industry to join the brand. Fazzalari now has 19 employees, including the former head of marketing at the Stoli Group and an executive vice president who was integral to launching Grey Goose and later built Patrón from 100,000 cases a year to 2 million.
When it came time to find distribution, Lloyd Sobel of Breakthru Beverage told Fazzalari not to get her hopes up because he rarely said yes on the first try. But then he took a sip of Cincoro. “I actually left the meeting and went back to my office and got a brand that would be in competition to see, face-to-face, how it would hold up, and it blew it away,” says Sobel. “Cincoro is competing in an area with tremendous growth and a limited competitive set.
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