Brown-Forman Corporation (NYSE:BF.A) shares opened Friday in the red, as one of the largest American-owned spirits companies announced its plan to distribute its own brands in Italy, effective May 1, 2025.
“We believe setting up our own distribution organization will enable the growth of our brands across all channels in Italy,” said Agnieszka Przybylek, General Manager, Brown-Forman Italy.
“Italy is an important market for driving the growth of our Jack Daniel’s Family of Brands globally and, in particular, for our latest portfolio additions, Gin Mare and Diplomático Rum. We believe that the creation of our own distribution business in this market will offer increased consumer focus and prioritization of our brands, empowered by a talented team,” said Yiannis Pafilis, EVP, President of Europe, Brown-Forman.
According to IWSR, Italy is among the top five spirits markets in the European Union (excluding the UK) and the leading market for Gin Mare globally. In Italy, Brown-Forman is the #1 company in the premium+ spirits industry, with Jack Daniel’s being the #1 whiskey in the market, and Gin Mare the #2 in the super premium+ gin category, the fastest growing category over the past five years.
Brown-Forman has Jack Daniel's Tennessee Whiskey, Jack Daniel's Ready-to-Drinks, Jack Daniel's Tennessee Honey, Jack Daniel's Tennessee Fire, under its umbrella.
BFA shares fell 26 cents, to $59.68 Friday.
