Fresh off not buying Brown-Forman, Pernod Ricard reported its second-quarter earnings this week. They were, ah, bad, with organic net sales down 4% worldwide and a staggering 14% in the United States. But chief executive Alexandre Ricard (no: relation!) has a plan to turn things around. As he shared with analysts on the French conglomerate’s earnings call earlier this week:
Gen Z over-indexes amongst RTD drinkers, which, in a way, represents a great recruitment opportunity into our brand franchises.
What he means is younger drinkers like RTDs more than older drinkers, so PR has a better shot at persuading them to buy its RTDs. Which… is probabilistically true. I guess? Not sure the legal-drinking-age children yearn for Absolut x Ocean Spray vodka-cran-in-a-can, though.
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