A 70 cl bottle of Tequila Clase Azul, Ultra, Extra Añejo sold for 3,770 euros at La Grande Épicerie de Paris; a bottle of Tequila Amor Mío Extra Añejo at nearly 1,000 euros… The prices of high-end tequilas are skyrocketing. The reason ? A renewed interest from consumers and a surge in ultra premium.
Very popular in the United States – not just Latinos – and starred by personalities who have launched their own brands (George Clooney with Casamigos, sold for 1 billion dollars to Diageo in 2017; Kendall Jenner with 818 Tequila…), tequila is coming third in the US spirits market, behind vodka and whisky. It has even just overtaken the latter in the premium segment. At the international level, while Mexican nectar represented only 2.5% of the volume of spirits in 2021, its share is estimated at 7% by 2026 (source IWSR).
France is not spared by the phenomenon. Although still a niche market, tequila is constantly growing, particularly in ultra-high-end bottles, which represent around 6.5% of the spirits market by volume and 18.3% by value (+7% between 2021 and 2022). ). “Sales of tequila doubled between 2019 and 2022 and we went from 10 to more than 30 references”, notes Hugues Forget, cellar master of the Grande Épicerie de Paris. Out-of-home consumption is also on the rise, with growth in value of 244% over the first six months of the year (Nielsen CGA data, as of June 2022). Leading on this network? Patrón, which carves out a market share of 15.2%.
“The product has completely changed over the past five years, notes Julien Morel, CEO of Volcan de mi tierra, a joint venture created in 2017 between Moët Hennessy and the Gallardo family. Until then very accessible and less qualitative, it is today acclaimed in the premium version by consumers looking for a 100% blue agave, without additives, worked with great care and passion”.
Result ? “We are often out of stock”, regrets Hugues Forget. The consequences of growing consumption but also of a particularly long production process. Because you have to be patient before bottling and tasting this Mexican spirit. Count seven to eight years for the work of maturing the agaves, to which is added the aging phase: six months for the reposado, one to three years for the añejo and more than three years for the extra añejo…
After starting in the United States and Mexico, Volcan de mi tierra has since expanded its distribution to Asian and European markets. And the results are there. “We are recording constant growth, with more than 50,000 cases today, or 600,000 bottles. Of more than 1,000 brands of tequila, we are already in the top 20”, says Philippe Schaus, CEO of Moët Hennessy. Further proof of market potential? Pernod Ricard announced in October that it had acquired a majority stake in Código 1530, a range of Ultra-Premium and Prestige tequilas. And the upturn should continue with new launches in 2023, such as Patrón El Cielo by the Bacardi group, the Añejo version of the very young brand Adicción, as well as the arrival of new companies on the French market. No more tequila bam! The nectar is enjoyed neat, on ice, sometimes accompanied by sparkling water, or in a cocktail, such as the Paloma made with grapefruit juice and lime. Beyond the festive side, it’s a real trip to South American culture that tequila offers…
