Should Brown-Forman Be Making a Jack Daniel's Hard Seltzer?
Jack Daniel's is the largest American whiskey brand in the world and the fourth-biggest spirits brand, but its owner Brown-Forman (NYSE: BF.A)(NYSE: BF.B) is leaving profits on the table.
Although brand extensions like its honey- and recently introduced apple-flavored whiskies enjoy strong underlying sales growth, and a lineup of ready-to-drink (RTD) cocktails helped push net sales to 3% gains last quarter, Brown-Forman is missing out by not having a Jack Daniel's-branded hard seltzer.
Image source: Jack Daniel's.
Source Fool.com