Licensors across property types have made their presence known across most categories of alcoholic beverage by this point, whether that be beer; wine; spirits including vodka, tequila, and whiskey; or hard seltzer. The hottest category for collaboration of late has been ready-to-drink cocktails, with a range of examples coming to market since January of this year. The most active property types in the space to date include:
- Non-alcoholic beverages. The Coca-Cola Company has been particularly active, announcing Fresca canned cocktails with Constellation Brands, canned Jack Daniel’s and Coke with Brown-Forman, and spiked Lemonade featuring its Simply Lemonade brand with Molson Coors. Meanwhile, Vita Coco coconut water paired with Diageo for coconut-based drinks incorporating Captain Morgan rum.
- Sports. Most of the action in this sector has involved canned cocktails associated with individual pro teams, including both limited and permanent offerings, typically as part of broader sponsorship deals. The NHL’s Seattle Kraken paired with Denali Spirits, the NFL’s Detroit Lions partnered with Coppercraft Distillery, and MLB’s Boston Red Sox teamed with Sugarlands Distilling, for example.
- Entertainment and media brands. Betches, a company marketing humorous social media content tailored to millennial women, released Faux Pas, a cocktail brand created with Spirit of Gallo. Similarly, RuPaul’s Drag Race collaborated with Marina Hahn, founder of Svedka Vodka, to launch House of Love, a line of cocktails and mocktails.
Other IP owners beyond these primary sectors are also getting in the game. These include restaurant chains such as Hard Rock, which expanded its deal with Stewart’s Enterprises to add ready-to-drink cocktails to its existing hard seltzer range. And celebrities such as P. Diddy, who released a collection of canned drinks with Cîroc, in which he is an investor, are also jumping in. (Pairings between two alcoholic beverage brands, not included in this list, are also abundant.)
It is not surprising that licensors are eyeing this category. After a pandemic-fueled spike, sales levels for RTD cocktails remain strong and are expected to continue on a positive trajectory. Grandview Research, which valued the global market at U.S. $782.8 million in 2021, predicts sales will rise by a compound annual growth rate of 13.4% from 2022 to 2030. Meanwhile, the RTD cocktail arena has been relatively uncrowded when it comes to collaborative products, at least until recently, leaving white space for new initiatives.
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