The success stories of former NBA stars turned businessmen are seldom, but Michael Jordan is one of the exceptions. The premium Tequila brand Cincoro launched by the 6xNBA Champion back in 2019, having pegged 2 million bottle sales by May this year, stands as its testimony. The brand run by Jordan along with 4 others who are also NBA franchise owners saw it as a cue for expansion only to stumble at a grave competition that is imminent.
The other brand that poses a danger to His Airness‘ Tequila comes from the celebrity actor Dwayne Johnson. ‘The Rock‘ has had his brand Teremana rolling since 2020, and it has reached a sales number that threatens to overtake Cincoro. What about the numbers?
Johnson’s brand announced last year that it has reached an annual sale of 1 million 9-liter cases. As they claim, it is the fastest growth any newly formed company could achieve in 12 months. To borrow the founder’s words: “We launched Teremana three short years ago and today we celebrate the extraordinary record-breaking accomplishment of selling one million cases annually.”
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Cincoro recorded 1.5 million sales about 4 years in, in 2022. One reason — the motto of Teremana. As its CEO Richard Black explained to Forbes, the brand aims to make tequila accessible and appreciated worldwide, leaving a 750 ml Mana bottle that only costs around $30. Cincoro’s, on the other hand, range from $89.99 for Blanco to $125 for their best-selling Anejo. This is where the possibility of the Fast & Furious franchise actor’s spirit speed chasing ‘His Airness’ and his brand is. How come it caught Cincoro off-guard?
As per a case study made by Atlantis Press, Mana’s sales numbers in 2021 were over 600,000 9-L Cases. As a new company formed a year before, this point already marked their growth trajectory. Since the growth was expected, it only makes sense to consider the possible upper hand Johnson’s tequila has over Cincoro.
The possibilities against MJ
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It is far from contention that the star’s charisma influences sales numbers. The Cincoro bottle with a 23-degree tilted base is one example to see it as a tribute to Jersey no.23 while marketing it. Moreover, its sleek and slim bottles with agave-shaped sides are projected as a result of Michael Jordan’s vision on modernity. However, such an advantage over marketing might have to wrestle with the social media following of ‘The Blue Chipper’. 394 million followers on Instagram! and 17 Million followers on X! a number which is hard to penetrate for the 5xNBA MVP who is nowhere near these platforms.
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Is Dwayne Johnson's Teremana the people's choice over Michael Jordan's premium Cincoro? What's your take?
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Then there are price factors, with the Cincoro founders determined to stick it as the top-notch premium brand. Even though the affordability angle of Teremana has them make some compromises such as in the aging of agave leaves, they offer traditional methods where the mature agave is roasted through brick ovens and distilled via handmade copper pot stills as guided by the partnership with the Lopez family. Such a perfect balance between quality and cost gives Johnson’s team an upper hand in selling higher numbers.
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Meanwhile, expansion could offer leeway, but the locations targeted by Cincoro such as the UK and the Middle East are also prime targets of Mana as clarified by CEO Black. Indeed, they see 2024 and the coming years as the perfect time to expand.
Given these odds against a spirit brand that has garnered over 17 international spirit awards, ‘His Airness‘ and his team are going to have a tough time ahead with numbers.
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Is Dwayne Johnson's Teremana the people's choice over Michael Jordan's premium Cincoro? What's your take?