[REPLAY] Can Marijuana Change the Three Tiered System? What experience from Canada can teach us in the US

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📢I talk🎙️with  Nicolas Guillant,  a   Frenchman who spent his first 5 years in Cameroon, Africa, and grew up in Paris, France. I met Nicolas working together at Remy Cointreau, my first job in the beverage industry and his second. 🍷  🎇 🎉 ✨ 👏😋 🥂  😁

After graduating with his MBA he was hired by Seagram’s to assess the value of their champagne brands, which included Mumm and Perrier Jouet. 🥂🍾 Once those brands were sold to Pernod Ricard, Nicolas found himself at Remy Cointreau in NYC and managed all the brands there except Remy Martin.

He jumped out of the biz with an amazing opportunity in Las Vegas working with Ceasars Holdings, Inc. on the Harrah’s brand. Missing the Supplier Beverage world, he started at William Grant & Sons in marketing then ran their portfolio of business in both Canada and the Nordic countries totaling just over 7 years.

He then took leadership roles as President of the Americas for Marie Brizard Wine & Spirits Group 🍷and EVP at Gerard Bertrand Wines before taking the Global Chief Commercial Officer at Alexandrion Group based in Romania. 

Nicolas has had a truly global leadership career working for some of the world's top brands and understands our US three-tiered system and the opportunities that remain.

I’m excited for Nicolas's next steps as he navigates these gaps in the market to create his own business.

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Transcript

00:00:04:20 - 00:00:20:02
Jessie
Welcome to Thursday, Thursdays at 3 p.m. Eastern Standard Time. My name is Jessie, the host of this podcast, which is all about beverage innovation. I talk with innovation pioneers from agriculture to glass. This week.

00:00:20:02 - 00:00:42:05
Jessie
I'm speaking with Nicholas Guillant a Frenchman who spent his first five years in Cameroon, Africa, and grew up in Paris, France. I met Nicolas while working together at Rémy Cointreau. My first job in the beverage industry and his second after graduating with his MBA. He was hired by Seagram's to assess the value of their champagne brands, which included Mumm Perrier Jouet.

00:00:42:07 - 00:01:08:12
Jessie
Once those brands sold to Pernod Ricard, Nicolas found himself at Rémy Cointreau in New York City and managed all the brands except Rémy Martin. He jumped out of the beers with an amazing opportunity in Las Vegas, working for Caesar's holdings on the Harrah's brand. Missing the Beverage World. He started at William Grant and Sons in Marketing, but ran their portfolio of business in both Canada and the Nordic countries, totaling just over seven years.

00:01:08:14 - 00:01:35:13
Jessie
He then took leadership roles as president of the Americas for Marie Brizard Wine and Spirits Group and EVP at Gerard Bertrand Wines, before taking the Global Chief Commercial Officer role at Alexandrian Group based in Romania. Nicola has had a true global leadership career for some of the world's top brands and understands our three tiered system and the opportunities that remain.

00:01:35:15 - 00:01:40:08
Jessie
I'm excited for Nicola's next steps as he navigates these gaps in the market to create his own business.

00:01:40:08 - 00:01:45:09
Unknown
Thank you for listening and be sure to subscribe to be notified of all new episodes.

00:01:45:09 - 00:01:55:19
Jessie
Hello, everybody, and welcome to Thursday, Thursdays at 3 p.m. Eastern Standard Time. My name is Jesse Art and I have Nicola Guyot here with me today. Hello Nicola, how are you

00:01:55:18 - 00:02:05:12
Nicolas
Hello. I see. Very good. Thank you. Worm, But good. I'm calling from Dallas.

00:02:05:14 - 00:02:06:04
Nicolas
So we're.

00:02:06:04 - 00:02:42:17
Nicolas
We still have Dallas, Texas, over 100 degrees for quite a almost a quarter now. So we're getting used to it. Really? Yeah, I think I prefer dry heat. And, you know, having lived in Vegas and Miami.

00:02:42:19 - 00:03:18:20
Nicolas
Fine, a hundred plus in dry heat, easier to bury than, you know, 92 with 80% humidity that you can get in Miami or New York.

00:03:18:22 - 00:03:30:07
Nicolas
Yeah, exactly. Exactly.

00:03:30:09 - 00:03:31:00
Nicolas
To function.

00:03:31:01 - 00:04:03:17
Nicolas
Yeah, I know that. That we don't, do we? Just wait. It's. It's. I wish I could call it a full three months of 100 degrees. Plus it gets warm.

00:04:03:19 - 00:04:39:15
Nicolas
Yep. Perfect.

00:04:39:17 - 00:04:55:21
Nicolas
Okay.

00:04:55:23 - 00:05:06:05
Nicolas
Yeah, exactly. Well, but it's not. I got it. I got it with a good cocktail.

00:05:06:05 - 00:05:15:16
Nicolas
That and it's the best way.

00:05:15:18 - 00:05:17:21
Nicolas
Originally from France.

00:05:17:23 - 00:05:23:10
Nicolas
So I was born in France, was raised in Africa.

00:05:23:12 - 00:05:32:23
Nicolas
Came back to France, had a I would call myself a nomad, had been living in, I think, eight or nine.

00:05:32:23 - 00:05:36:10
Nicolas
Different countries, three continents.

00:05:36:12 - 00:05:40:08
Nicolas
So we've always moved. And I'm now.

00:05:40:09 - 00:05:45:14
Nicolas
Married to Mexican, so my family's a little bit like they used to have.

00:05:45:16 - 00:05:51:17
Nicolas
Their Canadian Swede, French, American and.

00:05:51:17 - 00:05:53:04
Nicolas
Mexican. So it's it's a it's a.

00:05:53:04 - 00:06:07:15
Nicolas
Big it's a big crew. We have lots of passport to carry. We met randomly in New York. One of those stories.

00:06:07:15 - 00:06:09:22
Nicolas
You know, they always say in New York you can meet.

00:06:09:22 - 00:06:10:09
Nicolas
Anyone.

00:06:10:09 - 00:06:21:00
Nicolas
And we bumped into one another in the restaurant. We had no common friends. She was living in Mexico, was living in New York. So it was true fate. There was no.

00:06:21:00 - 00:06:29:03
Nicolas
Reason for us to meet. But, you know, a good it was actually a cheap reality. So a good Delaney always out to.

00:06:29:03 - 00:06:29:20
Nicolas
Break the ice.

00:06:29:20 - 00:06:39:15
Nicolas
So he was he was totally fit.

00:06:39:17 - 00:06:41:17
Nicolas
We've been together. Oh.

00:06:41:19 - 00:06:45:11
Nicolas
We're coming to 15 years together.

00:06:45:13 - 00:07:11:09
Nicolas
So a long road behind and obviously a long road ahead of us as well. A long road ahead of us. Still to come to. Exactly. Yeah. Always looking forward. I'm originally from.

00:07:11:09 - 00:07:13:19
Nicolas
Paris. I'm one of those few. It's like.

00:07:13:19 - 00:07:17:19
Nicolas
New York. A lot of people live in Paris. Very few people are from Paris.

00:07:17:21 - 00:07:30:11
Nicolas
So I was, you know, born in Paris, a true Parisian, as they say.

00:07:30:13 - 00:07:36:21
Nicolas
Oh, nice.

00:07:36:23 - 00:07:37:21
Nicolas
No, no. It's a beautiful.

00:07:37:21 - 00:07:39:14
Nicolas
City that I.

00:07:39:14 - 00:08:03:16
Nicolas
Can't. I would have to admit, it's a beautiful place to, uh, to to spend time in there. Actually, it's a good city to live in.

00:08:03:18 - 00:08:18:15
Nicolas
It's always tough. It's. Yeah, there'd be. But, I mean, Paris is very.

00:08:18:20 - 00:08:29:13
Nicolas
I mean, we're blessed when you live there. You have, you know, your your visuals are always incredible. So it makes a big difference and it's hard to compare, but.

00:08:29:15 - 00:08:30:15
Nicolas
New York has offer.

00:08:30:15 - 00:09:02:18
Nicolas
Other things. So it as Miami, that's what I love, is every city has something to offer if you know where to look and how to look.

00:09:02:20 - 00:09:12:18
Nicolas
Uh, I. Well, you follow the money pretty, you know. Pretty well, I think if you look, she's.

00:09:12:18 - 00:09:15:23
Nicolas
Very interesting because it's.

00:09:16:01 - 00:09:18:06
Nicolas
You could, you could really have an analogy.

00:09:18:06 - 00:09:21:04
Nicolas
With any kind of industry. It's a great team to have.

00:09:21:04 - 00:09:25:18
Nicolas
All the money in the world. But at the end of the day, what they don't.

00:09:25:18 - 00:09:34:16
Nicolas
Have is the right environment to compete. Their biggest problem in in France at that, if you look at those teams.

00:09:34:18 - 00:09:36:16
Nicolas
Uh, every we.

00:09:36:18 - 00:09:42:13
Nicolas
We can they have to really those players go have to play on their highest level.

00:09:42:15 - 00:09:47:06
Nicolas
France level as a league is not high. So when you're.

00:09:47:08 - 00:10:07:13
Nicolas
Messy when you're in and that in so they actually played maybe 10 minutes every weekend of their real level. So when they go to Champions League and so on, then they get totally crushed because they can't sustain that competitiveness. So it's interesting because I think as a.

00:10:07:13 - 00:10:11:08
Nicolas
Team, when you look at it, you know, there's a lot of big players.

00:10:11:08 - 00:10:20:14
Nicolas
But they're big players everywhere that the culture, the company of the club was in there, it seems, crossing our fingers. It seems they're changing it finally.

00:10:20:16 - 00:10:24:02
Nicolas
But it's culture and it's how you compete.

00:10:24:04 - 00:10:29:08
Nicolas
If you're not pushed, you can't raise to your to your best game.

00:10:29:10 - 00:11:33:04
Nicolas
When you need it that that I don't have I mean, it's interesting. It's interesting because to me.

00:11:33:10 - 00:11:34:20
Nicolas
Many of the same is what do.

00:11:34:20 - 00:11:40:02
Nicolas
You value the most is the the the natural because.

00:11:40:04 - 00:11:43:06
Nicolas
Messi's a natural is an incredible, talented player.

00:11:43:06 - 00:11:45:04
Nicolas
One of the best that ever.

00:11:45:06 - 00:11:46:18
Nicolas
Walked.

00:11:46:20 - 00:11:48:23
Nicolas
While running Renaldo.

00:11:49:05 - 00:11:50:17
Nicolas
Is.

00:11:50:19 - 00:12:10:06
Nicolas
A hell of a hard worker. So you're the same when you look at your team. What do you want? You want the talented, you know, the person who's going to naturally get everything or you value more, the one who is doing all the work. It may not have the talent, but, you know, make it up and more bodies.

00:12:10:06 - 00:12:13:11
Nicolas
Dedication is is drive is commitment in.

00:12:13:12 - 00:12:21:17
Nicolas
Is an interesting one and I think for me Messi is as bad as Ronaldo in terms of a personality.

00:12:21:19 - 00:12:28:07
Nicolas
He just pretends to be the cool, nice guy. But I don't think I mean, he's as interested in the.

00:12:28:07 - 00:12:28:23
Nicolas
Money.

00:12:28:23 - 00:12:30:06
Nicolas
Is as dirty.

00:12:30:06 - 00:12:31:19
Nicolas
As the other.

00:12:31:21 - 00:13:13:23
Nicolas
But I mean, he's an incredible player, but it's talent versus hard work. I think it's an interesting way of summarizing those two players.

00:13:14:01 - 00:13:17:11
Nicolas
Yeah, No, it's it's I mean, they're both.

00:13:17:13 - 00:13:24:10
Nicolas
Two incredible players, but and what Messi has done to the MLS, I think will be shortly.

00:13:24:10 - 00:13:26:19
Nicolas
That have been great.

00:13:26:20 - 00:13:30:04
Nicolas
But I think, you know, give him another three months and I'll stop playing.

00:13:30:06 - 00:13:59:06
Nicolas
And I know I think he's making more money in Miami than he would in salary. Yeah. Because if you look at it daily, you get a cut on all the.

00:13:59:06 - 00:14:06:14
Nicolas
Revenue generated from the apple. You could The games are shown by Apple TV. So he's getting a.

00:14:06:14 - 00:14:07:12
Nicolas
Cut on that.

00:14:07:14 - 00:14:15:09
Nicolas
Is getting an equity in inter Miami is getting a cut on the revenue generated by MLS on sales of.

00:14:15:09 - 00:14:23:11
Nicolas
Tickets. I mean at the end of the day that's what that's why he always pretends to be the sports man. It's all about the sports.

00:14:23:13 - 00:14:25:12
Nicolas
And I think that's part of is.

00:14:25:14 - 00:14:26:18
Nicolas
But at the end of the day.

00:14:26:18 - 00:14:33:10
Nicolas
It's all about business. The money is making is way more.

00:14:33:12 - 00:15:17:10
Nicolas
Yeah, that's good for them. It's it's it's a lot of money. Yeah yeah, yeah. I mean it might you never know. But I think I think the, you know, the Arab League is, is like in anything they're growing, they have the.

00:15:17:10 - 00:15:19:21
Nicolas
Money, they locate the player, they play pretty.

00:15:19:21 - 00:15:37:02
Nicolas
Well. You never know And it's a big market again. Yeah indeed.

00:15:37:04 - 00:15:43:13
Nicolas
Yes.

00:15:43:15 - 00:15:49:21
Nicolas
And, and well you know in America they have it with football and baseball.

00:15:49:21 - 00:15:51:02
Nicolas
We do have it with soccer.

00:15:51:02 - 00:16:39:10
Nicolas
So we can go on and on and on. Not have. But I know they're big. They're big in baseball. Wow. Wow. Now that's tiny. Probably. Yeah. No, no, they don't.

00:16:39:12 - 00:16:57:23
Nicolas
It's it's wow. That's a huge amount.

00:16:58:01 - 00:17:15:01
Nicolas
That's that. That's amazing.

00:17:15:03 - 00:17:16:23
Nicolas
You.

00:17:17:01 - 00:17:23:15
Nicolas
No, no, I'll, I'll, I'll make sure next time. In fact, if I ever get back to Japan to go see a game.

00:17:23:17 - 00:17:23:22
Nicolas
Because.

00:17:23:22 - 00:18:35:20
Nicolas
I definitely in and I'll it's added on my list to do next time I'm in Japan. Yeah. Next time There's always a next time. So Yeah. And I it is I move many well I spend the first almost five years of my life.

00:18:35:20 - 00:18:57:18
Nicolas
In Africa, then went back to Paris and then did a post-graduate program between the UK, Germany and France. And that's how I started in the one in Spain business and then, you know, stayed in France for a couple of years and moved to the US after like in 2000. And then since I've been.

00:18:57:18 - 00:18:58:22
Nicolas
Probably based in.

00:18:58:22 - 00:19:00:16
Nicolas
The US with some.

00:19:00:18 - 00:19:01:05
Nicolas
Back.

00:19:01:11 - 00:19:10:11
Nicolas
Into Europe in between I was in Gambo, Cameroon, so to West.

00:19:10:11 - 00:19:11:06
Nicolas
Africa.

00:19:11:06 - 00:19:22:07
Nicolas
Or French colonies, my parents, you know, my dad had a job there. So we, we went there, have very little recollection or anything. I just.

00:19:22:09 - 00:19:25:20
Nicolas
Yeah, seriously probably they don't have I just.

00:19:25:22 - 00:19:45:19
Nicolas
You know, I just felt very comfortable. I've been back to Africa and it feels like home. I have no yeah, it just a place I feel comfortable and but then we went back to Paris.

00:19:45:21 - 00:19:54:00
Nicolas
No. Yeah, I started, I, I, I wouldn't say I went then to.

00:19:54:02 - 00:20:00:18
Nicolas
It wasn't a passion of mine apart from like every young kid drinking way too much.

00:20:00:20 - 00:20:06:03
Nicolas
That was, that was actually it was better for me to stay away from liquor, but it.

00:20:06:03 - 00:20:09:06
Nicolas
Was just I was at the time doing my.

00:20:09:06 - 00:20:12:03
Nicolas
MBA and one of my family.

00:20:12:03 - 00:20:30:05
Nicolas
Members was working for Seagram. It was part of their strategy team had led the purchase of Absolut at the time and was managing the empty motel. So I needed to do.

00:20:30:07 - 00:20:31:07
Nicolas
You know.

00:20:31:09 - 00:20:45:09
Nicolas
A little project for my master degree. So I picked you know, I picked a subject matter that we discussed, which was around.

00:20:45:10 - 00:20:49:09
Nicolas
The impact of long term.

00:20:49:14 - 00:20:59:04
Nicolas
Consumer trends, you know, like the mega trends, how do they impact over time? Sales of alcohol did that.

00:20:59:04 - 00:21:01:08
Nicolas
Then they offered me a job.

00:21:01:10 - 00:21:06:04
Nicolas
At that time, which I was right off, didn't have to search.

00:21:06:06 - 00:21:14:07
Nicolas
So I took it, of course, and he was also in champagne. So it was it was in their champagne division.

00:21:14:09 - 00:21:16:07
Nicolas
So that was great. So to.

00:21:16:09 - 00:21:16:19
Nicolas
That.

00:21:16:19 - 00:21:20:09
Nicolas
And been in the business.

00:21:20:11 - 00:21:23:16
Nicolas
All my career, apart from I would.

00:21:23:16 - 00:21:27:01
Nicolas
Say to you, apart from two years in the mid.

00:21:27:01 - 00:21:28:07
Nicolas
2000.

00:21:28:09 - 00:21:37:21
Nicolas
Where after it was about ten years in the liquor business, I didn't know if I was in the business because I enjoyed it, because that's all I knew. And I.

00:21:37:21 - 00:21:41:18
Nicolas
Went and did a stint in the casinos and then came back.

00:21:41:22 - 00:21:44:09
Nicolas
Two years after that. So I guess I actually.

00:21:44:09 - 00:21:59:11
Nicolas
Enjoyed the wine and liquor universe. So for four mum, I came. I got very lucky in a way.

00:21:59:13 - 00:22:02:15
Nicolas
It was a blessing in the curse because I got involved and I.

00:22:02:15 - 00:22:06:10
Nicolas
Got involved right from the get go.

00:22:06:12 - 00:22:23:14
Nicolas
On a strategic project. At the time, Seagram was already because Edgar Crawford Jr was the the CEO or the chair was starting to look outside of the business thinking it was providing enough revenue and it wasn't a sexy industry to be in.

00:22:23:16 - 00:22:26:13
Nicolas
So I was part of the.

00:22:26:13 - 00:22:35:04
Nicolas
The group that was assessing the champagne business for for Seagram.

00:22:35:06 - 00:22:36:16
Nicolas
With a view that it.

00:22:36:16 - 00:22:37:09
Nicolas
Was.

00:22:37:11 - 00:22:38:08
Nicolas
They wanted.

00:22:38:09 - 00:23:05:02
Nicolas
To increase their ratio, their performance ratio and their profitability ratio. So every business unit was being assessed with the BCG. And so I was part of the, you know, the the client team working with BCG, assessing the champagne business and trying to identify how do you grow value, what is the best return you could expect from that type of business.

00:23:05:04 - 00:23:12:21
Nicolas
And, you know, at the time the Champagne division of Seagram, which was Mumm, Perrier Jouet, Piper Heidsieck, etc., was.

00:23:12:23 - 00:23:13:11
Nicolas
Low.

00:23:13:11 - 00:23:15:15
Nicolas
Compared to.

00:23:15:17 - 00:23:16:07
Nicolas
You know.

00:23:16:09 - 00:23:25:02
Nicolas
Whiskey and other and other categories. So we worked on how to improve it. So it was super interesting because I was.

00:23:25:04 - 00:23:26:03
Nicolas
You know, involved.

00:23:26:03 - 00:23:32:05
Nicolas
With senior manager when I was out of grad school. So definitely not.

00:23:32:07 - 00:23:32:10
Nicolas
The.

00:23:32:10 - 00:23:37:05
Nicolas
Right level of experience there, but I was part of all the team meetings, part.

00:23:37:05 - 00:23:40:02
Nicolas
Of that. Then the work ended.

00:23:40:02 - 00:23:43:16
Nicolas
Up going to New York to present to.

00:23:43:18 - 00:23:45:14
Nicolas
Edgar Bronfman.

00:23:45:16 - 00:23:47:02
Nicolas
The result and.

00:23:47:02 - 00:23:48:17
Nicolas
At the end, you know.

00:23:48:19 - 00:24:06:03
Nicolas
Was put in charge of managing or monitoring the execution of the strategic plan that was put in place, which was interesting because at the same time they were looking at selling the business. Anyway, the first part of the business they sold, they sold.

00:24:06:05 - 00:24:06:14
Nicolas
You know.

00:24:06:18 - 00:24:09:04
Nicolas
They started selling a lot of brands.

00:24:09:06 - 00:24:14:21
Nicolas
And then they got rid of the entire of some of the the the.

00:24:14:23 - 00:24:18:10
Nicolas
The champagne houses. So it was very interesting to be part of it.

00:24:18:10 - 00:24:20:08
Nicolas
Totally different. Instead of.

00:24:20:08 - 00:24:21:10
Nicolas
Starting the business the.

00:24:21:10 - 00:24:26:08
Nicolas
Normal way and small, I got to see the big picture.

00:24:26:10 - 00:24:27:23
Nicolas
Understand the value chain, to.

00:24:27:23 - 00:24:31:12
Nicolas
Look at all the elements of the business.

00:24:31:14 - 00:24:46:23
Nicolas
And after a few year there I changed that. They started selling everything. It was obvious that they were going to get rid of the business. So I moved to a different company, which was Remi.

00:24:47:01 - 00:25:00:07
Nicolas
Yeah, they, they had, I think, monopole, they had a lot of brands. I mean, it was a powerhouse because, because I mean, when you look at the business, it's.

00:25:00:07 - 00:25:16:22
Nicolas
A very cyclical business or it goes in seven years where it's boom, then the, the price is way to go, way too high. That was prior to I think in the last few years he hasn't done that. But then he used to drop and then rebuilt. And it was a business as.

00:25:16:22 - 00:25:18:05
Nicolas
Well that.

00:25:18:07 - 00:25:32:07
Nicolas
In terms of profit because it's wine because of the make you have to h your profitability is much lower in terms of ratio of return on investment and bit compared to whiskey.

00:25:32:09 - 00:25:35:01
Nicolas
Or to vodka. So, you.

00:25:35:01 - 00:25:38:22
Nicolas
Know, Seagram wanted to raise their average.

00:25:39:00 - 00:25:40:01
Nicolas
Ratio.

00:25:40:03 - 00:25:55:20
Nicolas
And it was difficult to do in champagne unless you were selling very high premium. So that's why they started to sell to say, well, okay, it's a lot of really lots of assets, lots of working capital.

00:25:55:22 - 00:25:56:16
Nicolas
We don't like.

00:25:56:16 - 00:26:09:21
Nicolas
It. We want to move stuff like sell it.

00:26:09:23 - 00:26:14:11
Nicolas
Yeah, I went to to work for Rémy, Then I went back into a normal process.

00:26:14:11 - 00:26:19:20
Nicolas
I went into marketing international brand manager, and I started.

00:26:19:22 - 00:26:22:06
Nicolas
You know, traveling the world a lot more.

00:26:22:06 - 00:26:26:12
Nicolas
And I started then moved from wine to liquors.

00:26:26:14 - 00:26:28:00
Nicolas
So when.

00:26:28:02 - 00:26:31:07
Nicolas
Worked on the Italian liquor portfolio, which.

00:26:31:07 - 00:26:37:10
Nicolas
Was Galliano and, and brand, every every American know that you have the bottle.

00:26:37:10 - 00:26:40:02
Nicolas
Sitting in the bar never being used.

00:26:40:04 - 00:26:52:11
Nicolas
But so I worked on that a Yeah, it's and I mean, when you look at the amount of, you know, business.

00:26:52:11 - 00:27:10:00
Nicolas
That was made because it was to, it was really to drink that made that brand which was a lot of the issues of the liquors is it take even Cointreau take away Margarita and Cosmopolitan and they've lost 70% of their volume are gone. Galliano was horrible.

00:27:10:00 - 00:27:10:21
Nicolas
Banger.

00:27:10:23 - 00:27:16:14
Nicolas
And it was a hot shop which was a short drunk in in Scandinavia. But he made the brand, he made.

00:27:16:14 - 00:27:19:23
Nicolas
A lot of money so I learned a lot more.

00:27:20:00 - 00:27:22:22
Nicolas
Classical marketing. It was also interesting because.

00:27:23:03 - 00:27:30:20
Nicolas
I think I got I got to leave a lot of the big waves.

00:27:30:20 - 00:27:35:20
Nicolas
You know, tidal waves of the industry. I was with Seagram when they started selling.

00:27:35:22 - 00:27:36:09
Nicolas
I was.

00:27:36:09 - 00:27:41:01
Nicolas
With Remy when Remy almost went bankrupt because back in.

00:27:41:01 - 00:27:52:12
Nicolas
The day, yeah, Remy almost went bust. And if you look at the story piano about Seagram, but it could have been Remy. Remy was as.

00:27:52:12 - 00:27:55:03
Nicolas
Big as piano back in the days.

00:27:55:05 - 00:27:59:02
Nicolas
But some. It shows.

00:27:59:02 - 00:28:03:00
Nicolas
You how the world depends on one law human.

00:28:03:02 - 00:28:09:06
Nicolas
Error. At the time, you know, Remy had a huge network.

00:28:09:06 - 00:28:14:21
Nicolas
Distribution network across the world, and they had a CFO who made a mistake.

00:28:14:23 - 00:28:15:21
Nicolas
In.

00:28:15:23 - 00:28:18:08
Nicolas
Hedging currencies.

00:28:18:10 - 00:28:20:17
Nicolas
And when he made a mistake.

00:28:20:18 - 00:28:27:09
Nicolas
He instead of he started losing a lot of money. And instead of alerting the family and doing the right thing.

00:28:27:14 - 00:28:30:13
Nicolas
He doubled down and the company.

00:28:30:13 - 00:28:41:23
Nicolas
Went from being very profitable to a loss of he was I can't remember if he was your or but something like 500 million francs or euros.

00:28:42:00 - 00:28:47:21
Nicolas
You know. COLE And so that's how they'd created Maxim.

00:28:47:23 - 00:28:54:03
Nicolas
Maxim with the way for Remy to save themselves from having to close shop.

00:28:54:05 - 00:28:55:16
Nicolas
Because they then.

00:28:55:16 - 00:29:08:16
Nicolas
Brought Jim Beam, Absolut and all those guys, they, they sold part of their distribution network, and he took them easily ten, 15 years to rebuild to where they are today.

00:29:08:18 - 00:29:13:18
Nicolas
But have that's here for non made that in a crazy move.

00:29:13:20 - 00:29:18:14
Nicolas
They could have been the one buying half of the Seagram brands and it would be a whole different.

00:29:18:14 - 00:29:38:01
Nicolas
Story they got rid of a lot of I know there's a lot of like tattoo you know things happen that I remember one person and it was.

00:29:38:01 - 00:29:40:20
Nicolas
Very interesting because you know you could see it was a.

00:29:40:20 - 00:29:42:09
Nicolas
Drama.

00:29:42:11 - 00:29:44:15
Nicolas
The business was at the time you had you.

00:29:44:15 - 00:29:47:15
Nicolas
Had a headphone door and a bomber where.

00:29:47:15 - 00:29:50:14
Nicolas
Driving and riding very good, very strong.

00:29:50:14 - 00:29:52:14
Nicolas
Leader who Wandoan.

00:29:52:14 - 00:30:00:18
Nicolas
Was a great marketer, very solid. And he started establishing all the roles brand that guides so well.

00:30:00:18 - 00:30:01:21
Nicolas
Remy and.

00:30:01:21 - 00:30:08:01
Nicolas
Roland Campbell Moore was a hell of an operator in terms of managing distribution company, so the two.

00:30:08:01 - 00:30:11:18
Nicolas
Of them made it and a very.

00:30:11:18 - 00:30:17:14
Nicolas
Very solid duo.

00:30:17:16 - 00:30:23:00
Nicolas
They started it well, they're the one who saved the company because they're the one who.

00:30:23:00 - 00:30:31:08
Nicolas
Orchestrated the sell and the creation of Maxium. Then the one who managed Maxwell Maxim for a very long time. That was Roland.

00:30:31:10 - 00:30:34:21
Nicolas
And so they really were. But I think Herb.

00:30:34:21 - 00:31:00:04
Nicolas
Was when you look at what he did with Remy Martin and so on, we were the one who understood the brand and really started creating that very strong brand culture at Rémy Cointreau, where really, you know, the global brand team were extremely powerful.

00:31:00:06 - 00:31:03:02
Nicolas
You No, no, that Maxim used to be.

00:31:03:04 - 00:31:23:03
Nicolas
One of the large distribution organization. So it was they were not brand owner, they were a joint venture initially Rémy Cointreau Absolut Jim Beam and there was a fourth and I can't remember the fourth one. So the.

00:31:23:05 - 00:31:27:00
Nicolas
Fourth partner that told all their various.

00:31:27:02 - 00:31:31:17
Nicolas
Distribution network across the world to create the first.

00:31:31:19 - 00:31:33:04
Nicolas
Fully global.

00:31:33:06 - 00:32:03:02
Nicolas
Network to compete with at the time the war was coming to be GI Joe, etc. So they were, they were active in every market. The only market, they never went together with the US because, you know, obviously no one wanted to do that. It was too big of the market, but it really helped them create powerhouses in distribution because it's it's the period when people realized that.

00:32:03:04 - 00:32:04:01
Nicolas
In most.

00:32:04:01 - 00:32:24:09
Nicolas
Markets the distribution is a scale game. So you need to have the right scale. You need to have the right portfolio in order to sustain your organization.

00:32:24:11 - 00:32:26:00
Nicolas
So yeah, it was a maximum.

00:32:26:00 - 00:32:33:17
Nicolas
Organization and it was depending on the people on the country was heavily skewed towards Remy base.

00:32:33:19 - 00:32:34:17
Nicolas
Or.

00:32:34:19 - 00:33:06:04
Nicolas
You know, a Jim Beam or an absolute. So they started to consider adding a new entity, which then, you know, went separated a few years ago after because they were having more challenges as a shareholder. But the it was a totally separate entity just selling all the brands of the shareholder in the market. And that allowed them in many markets to be between top three positions and distribution.

00:33:06:06 - 00:33:06:22
Nicolas
But it lasted.

00:33:06:22 - 00:33:38:15
Nicolas
For quite some years. And then Remy got rich enough to go on their own and they started to have too much of a gap, which had a lot on distribution company. You had a gap that they could manage between the type of brand that the super premium on one end. And then you have mass brands and when you start to establish and drive and they get to scale, there is a there isn't permanent fight because what you need from mass is different, that what you need for a super premium.

00:33:38:17 - 00:34:05:13
Nicolas
So it started to struggle on how do you put your resources, Do you hire more salespeople? Do you are more, you know, brand brandy decayed or how do you structure your your business? Because you know, if you build an on premise high premium brand, you need a different structure than if you do mass deals with big retail.

00:34:05:15 - 00:34:06:10
Nicolas
They broke.

00:34:06:10 - 00:34:22:06
Nicolas
Away. So Maxim sort of disappeared because shareholders started to leave and they started to break it down. So they then kept certain entity and slowly dissolve Maxim. And it was a big.

00:34:22:06 - 00:34:23:09
Nicolas
It was a big move.

00:34:23:09 - 00:35:05:15
Nicolas
At the time because it was it was one of the first step where distribution focus went into distribution. So as you can. And they started to look at how do you become more effective and efficient in your distribution. Also, because it's the time when you had big, big, big companies starting to pop up. The Diageo, the parent of that, you know, they they get to a scale that if you want to compete, you need to find a solution.

00:35:05:17 - 00:35:06:21
Nicolas
I mean, and if you look.

00:35:06:21 - 00:35:12:06
Nicolas
At today, it's very interesting because today in the US, it's a perfect example. You have.

00:35:12:08 - 00:35:13:07
Nicolas
You.

00:35:13:07 - 00:35:39:16
Nicolas
Can work different models if you want to be a big player. And given the fact that the wholesaler controlled the market, it's all a question of skills. It's either skill which are lower because at the end it's the distributor doesn't do that, doesn't the distributor are not brand builder. They are. They will make sure your brand is in distribution, but you are the one to create demand.

00:35:39:18 - 00:35:43:12
Nicolas
So what everybody ends up doing is they end up sort of.

00:35:43:12 - 00:35:45:12
Nicolas
Dueling the role of.

00:35:45:12 - 00:36:04:16
Nicolas
A wholesaler, having their own sales force. And I think the one that does it very interestingly and is more anti because all they did is they they gave distribution rights to together in a way which allowed them to focus all their efforts on marketing to create pull. And this is.

00:36:04:16 - 00:36:08:23
Nicolas
Why if you look at it, why do all companies.

00:36:08:23 - 00:36:18:11
Nicolas
Develop celebrity endorser backed brands is because it's cheaper, because your celebrity will drive, your consumer pull.

00:36:18:13 - 00:36:19:06
Nicolas
And.

00:36:19:08 - 00:36:43:12
Nicolas
You will get you the scale you need because otherwise you're going to get distribution. And then he won't pull out of the shelf and the distributor will turn around and say, the famous distributor equation, the health of a brand is a result of distribution multiplied by equity. We do the distribution, you do the equity. If doesn't turn and we've done distribution, you have an equity problem.

00:36:43:14 - 00:37:03:04
Nicolas
So it's always interesting, but I think that's why we had a shift. We went back in the 2000 a lot around distribution, efficiency skills and now they come to a certain sort of limitation or and they're moving now to celebrity just saying, you know what, I'm just I'm just going to.

00:37:03:06 - 00:37:03:22
Nicolas
Find a way.

00:37:03:22 - 00:37:21:13
Nicolas
To drive that that velocity quickly and then I'm going to use my skill to make sure it's everywhere.

00:37:21:15 - 00:37:24:12
Nicolas
I think, you know, and having worked a.

00:37:24:12 - 00:37:28:19
Nicolas
Lot in the US, there's a lot of people would tell you that the distributors are the.

00:37:28:19 - 00:37:30:13
Nicolas
Worst.

00:37:30:15 - 00:37:53:09
Nicolas
I tend to say differently. If you look at the size of the US, no company could do it on their own because of the amount of resources investment you would need to put to be able to properly serve the market is to use. So we you need a wholesaler. I think I fully understand why they consolidate because at the end.

00:37:53:11 - 00:37:59:09
Nicolas
You know, for me, if you look at at the West, some of them see themselves.

00:37:59:11 - 00:38:05:07
Nicolas
They their benchmark are company like Sysco, the food service.

00:38:05:09 - 00:38:17:06
Nicolas
So their job, their logistic players, the bigger they get, the more the more footprint they have, the better for them, because then all they need.

00:38:17:06 - 00:38:23:05
Nicolas
To know is optimize their their routes and making sure that they generate the most amount.

00:38:23:05 - 00:38:25:04
Nicolas
Of value.

00:38:25:04 - 00:38:27:08
Nicolas
Per square foot in their talk.

00:38:27:09 - 00:38:30:09
Nicolas
So at the end, the bigger you are takes out of them with the.

00:38:30:09 - 00:38:42:00
Nicolas
First and they've been very smart. If you look and have worked both of them, there is a big gap between Southern and everyone else because southern have the scale and the size.

00:38:42:02 - 00:38:43:03
Nicolas
To actually be the.

00:38:43:03 - 00:39:01:22
Nicolas
Only one. To have a really national brand, you need to sell them because they are the only one that can deliver everywhere and because of their side, they're able to invest and be way ahead of the curve in terms of use of digital tools, everything to make their operation better.

00:39:02:04 - 00:39:03:21
Nicolas
So it's a sort of catch 22.

00:39:03:21 - 00:39:18:17
Nicolas
The size allows you to increase your competitive advantage. What they're not doing and that's I think, a lot of the issues of supplier. They do need a wholesaler there to help them build. A wholesaler is not there to help.

00:39:18:17 - 00:39:20:11
Nicolas
Build the brand the wholesaler.

00:39:20:11 - 00:39:21:18
Nicolas
Distributes.

00:39:21:20 - 00:39:23:19
Nicolas
So and that's where my stint.

00:39:23:19 - 00:39:26:06
Nicolas
In the casino was very interesting because.

00:39:26:08 - 00:39:27:12
Nicolas
The model of casino.

00:39:27:12 - 00:39:32:13
Nicolas
Is all about revenue generating our square foot. It's all about revenue and.

00:39:32:15 - 00:39:35:16
Nicolas
You know, distributor data.

00:39:35:18 - 00:39:39:11
Nicolas
Where are indices going, where something is going is all about that.

00:39:39:13 - 00:39:40:09
Nicolas
It doesn't matter if.

00:39:40:09 - 00:39:41:14
Nicolas
They sell your vodka.

00:39:41:17 - 00:39:48:07
Nicolas
Mine, they need Ibaka on a truck so they'll make sure. And they're here to serve it.

00:39:48:07 - 00:40:00:20
Nicolas
They're their customer. They mean what matters to them is the the customer, the H-E-B, the Walmart, the you know, the bar. It is not.

00:40:00:22 - 00:40:02:00
Nicolas
The brand owner.

00:40:02:02 - 00:40:11:12
Nicolas
What they carry is, do I have 80% of that shelf? How do I get 80% of that shelf? Whether it's through Brennan and other doesn't matter.

00:40:11:14 - 00:40:15:14
Nicolas
What they want is own 80% of their share of the shelf and own 80.

00:40:15:14 - 00:40:17:01
Nicolas
Percent of.

00:40:17:03 - 00:40:17:23
Nicolas
The available.

00:40:17:23 - 00:40:22:20
Nicolas
Cash to be spent by the customer, and that's it.

00:40:22:22 - 00:40:29:03
Nicolas
So for me, it's good that it creates opportunity because and you've seen it a lot, there's one more.

00:40:29:03 - 00:40:29:22
Nicolas
New distributor.

00:40:29:22 - 00:40:36:05
Nicolas
Popping in. But then the question, it's a little bit like retail total wine as a model.

00:40:36:07 - 00:40:38:19
Nicolas
If you tried to compete, heads to head with total.

00:40:38:19 - 00:40:40:23
Nicolas
Wine, you'll never win.

00:40:41:01 - 00:40:44:22
Nicolas
Now distributor have to find ways to.

00:40:45:00 - 00:40:45:11
Nicolas
Offer.

00:40:45:11 - 00:41:03:02
Nicolas
A differentiated service and it can take many forms. It can be ability to service your premium accounts. You can be whatever you decide because your distributor doesn't do it. You know, as we all have lived it, you want to build your brand, you send your team to do the sell, and then the.

00:41:03:02 - 00:41:16:15
Nicolas
Distributors take the order. So it just a question of there's room for everyone, I think. And the big, big question for me down the line.

00:41:16:17 - 00:41:21:21
Nicolas
Is what will happen with matter one, because as you know.

00:41:21:23 - 00:41:25:03
Nicolas
Is, you know, lobbying very actively.

00:41:25:03 - 00:41:35:00
Nicolas
And having worked in Canada, I can tell you that once they once the Canadian border opened up to marijuana and gave it to the liquor.

00:41:35:00 - 00:41:39:06
Nicolas
Company in a matter of a year and a half.

00:41:39:08 - 00:41:45:16
Nicolas
Half of the revenue generated by sales in Canada was marijuana based.

00:41:45:18 - 00:41:50:10
Nicolas
So at the end, you know, you do it in the US, they may.

00:41:50:10 - 00:42:00:12
Nicolas
Totally change their outlook of your system. It may change a lot of things because they all make so much revenue from from, you know, marijuana based product.

00:42:00:14 - 00:42:25:08
Nicolas
They may like the wine, they may let go of a lot of things. Yeah. No, no. I mean, we don't know what's going to happen, but they've been.

00:42:25:08 - 00:42:43:16
Nicolas
Lobbying openly now to get for the government to give the liquor. Well, the wholesaler, the control of the distribution. And if they do the margin or are you it's going to be a game changer. I mean, if if you look at their model personally, I wouldn't stay in.

00:42:43:17 - 00:42:44:10
Nicolas
In a lot of the.

00:42:44:10 - 00:42:52:05
Nicolas
Businesses because why would I care about that working capital and having to deal with wine and all the complexity I can I can turn my business around.

00:42:52:05 - 00:42:57:10
Nicolas
It. Yeah. So I don't it's it's one personal opinion.

00:42:57:12 - 00:43:14:12
Nicolas
But I think there's still a lot of changes to come.

00:43:14:14 - 00:43:20:09
Nicolas
I think if you if you look at the there's two main question.

00:43:20:11 - 00:43:22:10
Nicolas
When it comes to who needs you know.

00:43:22:10 - 00:43:24:19
Nicolas
For the government forget the whole.

00:43:24:19 - 00:43:32:05
Nicolas
Ethical do you need to make the drugs legal or not. There's the two main question the number one is tax.

00:43:32:07 - 00:43:33:05
Nicolas
Can the federal.

00:43:33:05 - 00:43:40:20
Nicolas
Government collect the tax? The second is can we control and limit the negative impact of it so the.

00:43:40:20 - 00:43:42:04
Nicolas
Liquor, the wholesaler.

00:43:42:04 - 00:43:52:04
Nicolas
Come back and say, look at us. Since prohibition, you have a system that is being very effective. You're we're collecting the taxes. There's not been a lot of fraud. It's really control.

00:43:52:09 - 00:43:54:09
Nicolas
And look at control.

00:43:54:09 - 00:44:01:16
Nicolas
Well, we're doing a pretty decent job of making sure that we control, you know, excessive abuse. So I.

00:44:01:16 - 00:44:03:16
Nicolas
Think that's their argument.

00:44:03:18 - 00:44:21:17
Nicolas
To say we have a hell of a good track record. Trust us.

00:44:21:19 - 00:45:25:09
Nicolas
Yeah, right. Start it all. Yeah. That's been 20 years. Yeah. No, no. Any change everything and you know and that's there's been a whole so for me I.

00:45:25:09 - 00:46:08:04
Nicolas
Think it's just the way the market is structured, but I'm not too sure that, you know, seeing them as evil, I'm not too sure that we would be capable, as you know, as brand owner to do the same effective distribution tomorrow if you didn't have wholesalers.

00:46:08:06 - 00:46:24:01
Nicolas
Now that but I would say I would say that to me it's you know.

00:46:24:04 - 00:46:26:12
Nicolas
Pharmacies on the.

00:46:26:14 - 00:46:26:19
Nicolas
On.

00:46:26:20 - 00:46:31:14
Nicolas
The can for those who listen to or trust them.

00:46:31:16 - 00:46:32:18
Nicolas
A distributor less and.

00:46:32:18 - 00:46:35:13
Nicolas
Less makes promises on volume.

00:46:35:15 - 00:46:38:01
Nicolas
I mean, if you look at the way the way they are, they.

00:46:38:01 - 00:46:48:11
Nicolas
Warn promise depletion no problem with distribution point they'll they start to move away exactly on purpose because back then and that's you know.

00:46:48:13 - 00:46:50:07
Nicolas
Back they also.

00:46:50:07 - 00:47:05:12
Nicolas
Turned their model back then the state you know a state president could order whatever they want and you had a good relationship and you know, he was a buddy of yours and that person would order three container and push it more and.

00:47:05:12 - 00:47:10:13
Nicolas
More, at least in the larger the they have lost that ability.

00:47:10:15 - 00:47:17:04
Nicolas
It's control centrally because they used to have so much working capital that they'd say, what the hell?

00:47:17:06 - 00:47:19:02
Nicolas
And now it's all.

00:47:19:02 - 00:47:20:08
Nicolas
It's way less on.

00:47:20:08 - 00:47:20:21
Nicolas
Volume.

00:47:21:02 - 00:47:33:01
Nicolas
Unless you're, you know, yeah, you're one of the big division, but it's way more on point that they feel they can control better. They don't want to commit. They don't want their people to commit to volume because.

00:47:33:01 - 00:48:58:04
Nicolas
At the end they will make the revenue. They may not make it with you right. But they will they will sell that vodka or that wine or that cabernet, whatever it is, they'll they'll go sell it. It might be a different product but it's not going to go away. It's not either. No. I think the live debate is a perfect.

00:48:58:06 - 00:48:59:09
Nicolas
Sort of.

00:48:59:11 - 00:49:00:13
Nicolas
New development in the.

00:49:00:13 - 00:49:28:08
Nicolas
Distribution, because at the end, as you said, you know, people want access to diversity. They want to be able to do it, and they do it in a much more efficient way, like a huge marketplace, you know. So I think it's a very interesting model. Is it for startup or for new brands? Why would you go, you know, I would never go to a big one of the big distributors.

00:49:28:10 - 00:49:33:20
Nicolas
You're going to get lost. There's no way you can win. This is a much better way.

00:49:33:22 - 00:49:35:04
Nicolas
Helps you build a base.

00:49:35:04 - 00:49:35:09
Nicolas
And.

00:49:35:09 - 00:49:36:17
Nicolas
Then your.

00:49:36:19 - 00:49:51:23
Nicolas
Size matter. And and then once you have a real role, then yes, you know, that may not work with so then glazes because that's how you going to go from 300000 to 1000000 in no time because no one can deliver the way they can.

00:49:52:01 - 00:49:55:03
Nicolas
So again, it's it's I think it's a lot.

00:49:55:03 - 00:50:00:14
Nicolas
About understanding what your strategic.

00:50:00:16 - 00:50:02:08
Nicolas
Goals are and.

00:50:02:12 - 00:50:21:08
Nicolas
Playing the game the right way.

00:50:21:10 - 00:50:34:15
Nicolas
Yeah, exactly. And it's and it's also yeah no.

00:50:34:15 - 00:50:43:20
Nicolas
No and it's a great find you see because it's you know all of them are jockeying to try and make sure they don't miss the next big prize if you look at Southern.

00:50:43:22 - 00:50:45:06
Nicolas
Yeah.

00:50:45:08 - 00:51:07:18
Nicolas
Not getting Tito was a big mess. They got Tito once they purchased Glaser, but before they didn't get it. So they always for the look at what's going to be the next big brand so far. And you see it's a great way of making sure they potentially catch the next big fish while at the same time, you know.

00:51:07:20 - 00:51:08:17
Nicolas
The challenge they have.

00:51:08:17 - 00:51:15:05
Nicolas
Is that the margin they're using to distribute are very different from what they ask the other brands. So, you.

00:51:15:05 - 00:51:17:22
Nicolas
Know, that's the they feel their.

00:51:18:00 - 00:51:21:20
Nicolas
Their trucks and they don't carry everything but it's it's an interesting I.

00:51:21:20 - 00:51:22:01
Nicolas
Find.

00:51:22:02 - 00:51:56:07
Nicolas
LTD very good answer to a lot of the challenges than the smaller brands about.

00:51:56:09 - 00:52:00:04
Nicolas
No no and when you look at it the process.

00:52:00:04 - 00:52:26:21
Nicolas
Is made much more cumbersome that it has be. So if you can make it more efficient, everybody wins. And what I think what is great is it's a true market. They know promising you they're not doing anything. They just telling you you want availability. We'll make sure that someone can actually order your product. So I think I think their way of doing it, it was very smart.

00:52:26:23 - 00:52:27:16
Nicolas
Again, the.

00:52:27:16 - 00:52:48:21
Nicolas
Challenge I think for or the fallacy within them for a lot of supply, it doesn't change that. You still need to go do the sells and now you know there is thousands and thousands of prime out there. So you're going to need to still do the heavy lifting on making sure they pick yours and stick with yours.

00:52:48:23 - 00:53:12:18
Nicolas
Which is not easy. Then I think it's.

00:53:12:18 - 00:53:13:02
Nicolas
A great.

00:53:13:02 - 00:53:38:15
Nicolas
Model number. No, no, we're good to go yet. GAGLIANO The Caddy as so. I mean, I had a lot.

00:53:38:15 - 00:53:39:19
Nicolas
Of the Lakers.

00:53:39:21 - 00:53:41:22
Nicolas
Yeah, well, no PSA was actually when.

00:53:41:22 - 00:54:02:03
Nicolas
I moved to the US. So then I'd move global team to domestic market and spend five years at Miami working on, I would say, almost every brand. But Remy Martin and the tournament, the only brand of the portfolio. I didn't touch.

00:54:02:05 - 00:54:10:06
Nicolas
Remy so totally different. We went from global very big picture.

00:54:10:07 - 00:54:12:22
Nicolas
The future to as you know.

00:54:12:22 - 00:54:16:03
Nicolas
Immediate need.

00:54:16:05 - 00:54:44:20
Nicolas
And and probably execution and did that for five years And that's after that I left him did a stint in the casino to then come back to to the fold with William Grant where I spent eight eight years with William round. So I did eight years with Remy, eight years with William Grant.

00:54:44:21 - 00:54:56:12
Nicolas
On at Remy. Yeah. Oh yeah. I worked for a for.

00:54:56:12 - 00:55:25:20
Nicolas
Caesars, Caesars, Harrah's. So the time was Harris Entertainment just had purchased Caesars and they created a brand team whose job was creating the book and how to manage the various brands. So it was super interesting and it lasted years and I left when Harris was bought up by a private private equity firm. So it was the largest deal at the time.

00:55:25:21 - 00:55:30:15
Nicolas
I think it was 32 billion. And they got purchased.

00:55:30:17 - 00:55:31:00
Nicolas
Right.

00:55:31:00 - 00:55:31:13
Nicolas
Before.

00:55:31:13 - 00:55:32:17
Nicolas
The the.

00:55:32:17 - 00:55:41:19
Nicolas
Crisis. And at the time, you know, first move that any private equity firm comes is just cost cutting. And, you know.

00:55:41:21 - 00:55:48:20
Nicolas
They obviously downsized a lot of the corporate team and, you know, so I left. But it was.

00:55:48:20 - 00:56:01:06
Nicolas
A very interesting experience, very useful. So back to the spirit, because you were you got to get involved on how the customer were viewing the offers, what was important.

00:56:01:06 - 00:56:02:03
Nicolas
For them.

00:56:02:05 - 00:56:15:09
Nicolas
And their way of doing business with a lot more data driven than have I had been in one and spirit.

00:56:15:11 - 00:56:22:10
Nicolas
Yeah, I was in in brand marketing, so I went the shit that I did, I'd said the.

00:56:22:10 - 00:56:56:06
Nicolas
First ten years of my career or 12 were probably marketing with more and more commercial exposure. Good. The closer you get to market distribution, more and more. It's about your ability to understand sales and connect. And then I would say starting really with volume grown, I started migrated more towards commercial and I've been, you know, GM for the last ten years, GM or business unit region president for the last ten years.

00:56:56:08 - 00:57:12:23
Nicolas
So transition for me to a more general manager role. Yeah I did Caesar's.

00:57:12:23 - 00:57:21:13
Nicolas
Under a it was it was both because think of it.

00:57:21:18 - 00:57:26:22
Nicolas
This was you were in charge of designing the franchisee book.

00:57:27:00 - 00:57:28:04
Nicolas
Even though they were all.

00:57:28:04 - 00:57:55:21
Nicolas
Owned by Caesars. You needed to create. What would the brand experience and what defines Caesars, for example? So we started to create all those book and then so part of it was you were dealing with the GM of properties at the time. You know, Caesar's Palace was a $700 million business, and you were dealing also with consumers managing the campaign, the media.

00:57:55:21 - 00:58:10:00
Nicolas
Where did you. So it was a combination, but it was very interesting.

00:58:10:02 - 00:58:12:07
Nicolas
Yeah. I moved back to to.

00:58:12:09 - 00:58:16:04
Nicolas
To to New York for William Grant, spent eight.

00:58:16:04 - 00:58:18:05
Nicolas
Years there in the US, then.

00:58:18:05 - 00:58:24:04
Nicolas
In Canada and then in Stockholm. So a different outfit.

00:58:24:06 - 00:58:29:10
Nicolas
Yeah, that was a lot of fun. So yeah, it was cold in.

00:58:29:10 - 00:58:31:05
Nicolas
Canada is a beautiful country.

00:58:31:05 - 00:58:34:03
Nicolas
Sweden as well. But no, it was very interesting.

00:58:34:03 - 00:58:45:22
Nicolas
Different markets, different to route to market. So it was very interesting.

00:58:46:00 - 00:59:02:04
Nicolas
Yeah, it's I mean it's, it's, it's a beautiful area. I was back back then I was.

00:59:02:04 - 00:59:38:02
Nicolas
Managing the all Nordics so it would be all the Sweden, Finland, Denmark, Norway Iceland duty free in and and domestic markets. It was very totally different experience from the US or from Canada but super interesting.

00:59:38:04 - 00:59:40:20
Nicolas
And I think in general the.

00:59:40:20 - 01:00:13:10
Nicolas
Largest you're familiar with the Nordic is regulation. It's a highly regulated environment so you're not allowed to do most Consumer marketing is illegal because most of them do sell through a state controlled organization. So and if you look at the big difference is in Canada, the control boards report to the finance minister. So it's all about the cash collection in Sweden.

01:00:13:12 - 01:00:19:21
Nicolas
He reports to the Health Minister. So it's all about mitigating the.

01:00:19:23 - 01:00:20:22
Nicolas
The.

01:00:21:00 - 01:00:42:20
Nicolas
The consumption. So as a marketing, it's very different because of the regulation. You have to deal with it.

01:00:42:22 - 01:00:46:05
Nicolas
Yeah. No, no. You had a limit on how much you can.

01:00:46:07 - 01:00:52:11
Nicolas
Spend yet and way before you had limits you had a little booklet where you could register how much liquor you were allowed to.

01:00:52:11 - 01:00:56:13
Nicolas
Buy. I mean, it's a whole different ballgame.

01:00:56:15 - 01:01:29:04
Nicolas
The so he changes a lot on the way you market also because you don't control you don't have the ability a little bit like Canada you don't control shelves. You know in the US you can send your team they'll display do you know a lot in Sweden, Norway, Finland you know you don't touch that on the shelf and in Sweden back then they were putting the brand by alphabetical order.

01:01:29:06 - 01:01:30:09
Nicolas
So that's why.

01:01:30:09 - 01:01:35:09
Nicolas
Some people would put, you know, a letter.

01:01:35:09 - 01:01:53:22
Nicolas
Before the name so that they can move on the on the shelf and have a better position on the shelf.

01:01:53:23 - 01:01:58:15
Nicolas
No, I think I mean, it all depends.

01:01:58:16 - 01:02:10:02
Nicolas
You never know because it's it's whoever uses the data. I don't think it I don't think it necessarily led to a decrease because when you.

01:02:10:02 - 01:02:11:04
Nicolas
Look at it, a lot.

01:02:11:04 - 01:02:12:16
Nicolas
Of what they had was.

01:02:12:18 - 01:02:13:16
Nicolas
Goes beyond.

01:02:13:17 - 01:02:28:00
Nicolas
Access to alcohol. As you said, it's how cold the countries, how dark the country is. If you take Sweden, it's their culture they drink to believe in. The more you know and more.

01:02:28:01 - 01:02:28:13
Nicolas
In.

01:02:28:15 - 01:02:42:23
Nicolas
English love country, you go, you get drunk and they don't remember. It's a good night. And you know, while in southern Europe in France you drink not to get drunk to drink, just as to accompany your good mom. And so there's there's a lot.

01:02:42:23 - 01:02:44:11
Nicolas
Of other element that control.

01:02:44:16 - 01:02:46:11
Nicolas
For remember that's why if you look at.

01:02:46:13 - 01:02:47:11
Nicolas
You know back.

01:02:47:11 - 01:02:55:23
Nicolas
Then in in the Nordics 50% of the business were was duty free and it would take crew to go get boozed out or buy alcohol at a lower price.

01:02:55:23 - 01:03:16:00
Nicolas
So I don't know if you take all in, I don't know. And you know. No, no, it's it's super expensive. That's why they all they all.

01:03:16:02 - 01:03:21:06
Nicolas
Used to take flight and buy their alcohol in duty free on the flight.

01:03:21:08 - 01:03:21:19
Nicolas
Back then.

01:03:21:19 - 01:03:50:19
Nicolas
When I was still living there in late 2000, early 2000, ten, you couldn't you were expected to come with some liquor if you were on any flight. So everybody had to you had to bring alcohol back because, you know, price difference was so bad, you had to that was a given.

01:03:50:21 - 01:03:53:12
Nicolas
Yeah. No, no, It's I mean, it's work.

01:03:53:12 - 01:03:58:04
Nicolas
I mean, the system works. They still drink as much as anyone else. I think.

01:03:58:06 - 01:04:02:13
Nicolas
So It just so different. That's the beauty of the industry.

01:04:02:13 - 01:04:13:09
Nicolas
There's so many different route to market that when if you get exposed to all of them, it's super interesting to see how everyone does it differently. And then.

01:04:13:10 - 01:04:34:06
Nicolas
You.

01:04:34:08 - 01:04:37:21
Nicolas
It's starting to change. But I think it's culturally.

01:04:37:23 - 01:04:46:14
Nicolas
In a way that when I was growing up I would take a a whiskey and coke. I don't care about the brand.

01:04:46:16 - 01:04:48:07
Nicolas
So, you know.

01:04:48:09 - 01:04:57:08
Nicolas
Now because of globalization and they started to have and people care, but for the most part, French didn't care. They just want a.

01:04:57:12 - 01:04:58:09
Nicolas
Gin and gin and.

01:04:58:09 - 01:04:59:23
Nicolas
Tonic and whiskey and coke. And that.

01:04:59:23 - 01:05:13:07
Nicolas
Was it. Yeah, that was it. And maybe tequila in that. But again, I think it's culturally now it's.

01:05:13:07 - 01:05:16:08
Nicolas
Starting to change. But, you know.

01:05:16:10 - 01:05:18:04
Nicolas
And it's also very.

01:05:18:04 - 01:05:37:18
Nicolas
I would say again, it's changing the way young. It's also very cultural. A French would have a hard time understanding why needs to pay, you know, three times more expensive for a brand of vodka. They can understand it for wine. But you're telling vodka is bobcat vodka. And it's like, okay, I'm is good enough. I'm going to mix it.

01:05:37:18 - 01:05:38:03
Nicolas
I don't.

01:05:38:03 - 01:06:29:13
Nicolas
Feel it. I don't care. I don't know. It's a bit I don't know. I think he will come. I think the end of it all.

01:06:29:15 - 01:06:49:10
Nicolas
Luckily, no alcohol will be a big thing because a lot of people, you know, they need they need option. I mean, I would take the analogy with food and vegan versus, you know, normal vegan was nowhere to be seen before. And now it pops up everywhere.

01:06:49:10 - 01:06:54:19
Nicolas
I think. I think you get there again. I think it's it's if.

01:06:54:19 - 01:07:19:01
Nicolas
You look at consumer, the same consumer may drink and non-alcohol one day and an alcoholic. I think it really depends we have the ability as long as the taste profile of there depending on whether you want to you want to the bars of alcohol or just feel that you're social without, you know, the potential effect that you're waking up the next day with a hangover or tired or so.

01:07:19:01 - 01:07:22:12
Nicolas
I think France may fight it.

01:07:22:14 - 01:07:29:18
Nicolas
Or it will take time, but I think it will come no matter what. How quickly? I don't know.

01:07:29:20 - 01:07:30:19
Nicolas
I just read an.

01:07:30:19 - 01:07:37:09
Nicolas
Article this morning. They're really the first nonalcoholic champagne in France.

01:07:37:11 - 01:09:17:11
Nicolas
So if it is, it will come. Yeah. Yeah, yeah, yeah. No, I'm think.

01:09:17:17 - 01:09:21:23
Nicolas
I think it is. And you have it already with mocktails. That was.

01:09:22:01 - 01:09:23:20
Nicolas
Wasn't was.

01:09:23:22 - 01:09:34:10
Nicolas
Anything ten years ago and it's now on every, every cocktail list. So and I think it tells you a little bit the how our mind works because most of it.

01:09:34:12 - 01:09:35:20
Nicolas
You know still feel that.

01:09:35:20 - 01:09:36:19
Nicolas
They have a buzz even.

01:09:36:19 - 01:09:38:03
Nicolas
Though there's no alcohol.

01:09:38:05 - 01:09:45:23
Nicolas
But the association of having a beer makes you for a cocktail will give you the same perceived value.

01:09:45:23 - 01:09:48:22
Nicolas
I feel, you know, a little looser.

01:09:48:23 - 01:10:08:12
Nicolas
Or I feel in a good mood, but with other hard calls. Yes, I think it'll come it'll come to trends as well. I don't think there will be an issue with, you know, I'll come anywhere.

01:10:08:14 - 01:10:12:02
Nicolas
After William Grant that went to Mariposa.

01:10:12:02 - 01:10:34:21
Nicolas
Which was at the time, so which is a French publicly listed company, was bankrupt. I was approached as part of the senior management, the new senior management team to turn that business around. And I took over the Americas. So we had a big importer in the US and we had a production and distribution company in Brazil at the time.

01:10:34:23 - 01:10:41:06
Nicolas
So we did that for seven years, tried to turn around the business. Very interesting because throughout my career I've worked.

01:10:41:06 - 01:10:41:14
Nicolas
For a.

01:10:41:15 - 01:10:50:01
Nicolas
Publicly listed company and family businesses and my business was very interesting because it was.

01:10:50:03 - 01:10:52:13
Nicolas
When we were.

01:10:52:15 - 01:11:16:08
Nicolas
Working at turning that business around, it was, you know, I think one of the worst rotten apples in the business that we're every time we're talking to analysts, to PE firms, private equity and so on, they say, you know, we get involved when there is maybe 1 to 3 problems to fix. We have eight or nine. It's too much.

01:11:16:09 - 01:11:18:15
Nicolas
But it was super interesting.

01:11:18:17 - 01:11:21:18
Nicolas
Very interesting also because.

01:11:21:20 - 01:11:25:14
Nicolas
Very big challenge, very, very exciting.

01:11:25:16 - 01:11:29:13
Nicolas
Very interesting. Also because it was at the time were in the US, we.

01:11:29:13 - 01:11:30:05
Nicolas
Were.

01:11:30:07 - 01:11:31:01
Nicolas
Dependent on.

01:11:31:01 - 01:11:32:01
Nicolas
Vodka.

01:11:32:03 - 01:12:01:05
Nicolas
Right at the time when Absolut started taking prices down and you had a price pressure on vodka. So it was a very interesting time as an importer. And he also got me to really learn the Brazilian market. So I used to to be down there, you know, a week every six weeks to run the business there. So it was very, very interesting, very, very interesting market to be, to be active in it.

01:12:01:07 - 01:12:31:19
Nicolas
So fantastic element. Fantastic. Seven years got involved into more boards matters M&A and all this but he was know very interesting seven years there trying to understand how to try and target your business.

01:12:31:21 - 01:12:38:16
Nicolas
I think the I think like everything if you look at it Brazilian as a.

01:12:38:16 - 01:12:59:16
Nicolas
As a market go to market is very similar to is a mix between the US and Europe. It is a very large market culturally there I think was interesting is like a lot of Latin and Latin culture they don't say no.

01:12:59:18 - 01:13:01:03
Nicolas
That and.

01:13:01:03 - 01:13:26:01
Nicolas
They never they don't like conflict too much. So it's very difficult because they they're just always very nice. But it doesn't mean that you have a business to be up and there is always a sense of, you know, there is a trust. Mexico is even worse than that, but there's a trust. They need to know you. They need to feel that you're part of the of the culture.

01:13:26:02 - 01:13:41:10
Nicolas
You understand it. They remain very proud, which they should be who they are. So they don't like too much when people come and try to tell them we no matter. But it's it's a very dynamic market and very.

01:13:41:11 - 01:13:43:23
Nicolas
Very evolved market.

01:13:44:01 - 01:13:54:11
Nicolas
Complex, complex one. But no, it was it's super interesting.

01:13:54:13 - 01:14:00:22
Nicolas
Yeah. No I got that's very different. But you know, they're very.

01:14:00:22 - 01:14:37:11
Nicolas
Dynamic usually, you know very driven, different way than American teams. They are a lot more social, a lot more about, you know, the issue than potentially the American companies where performance and and policies are very important. When when you talk to American teams they want to they want to see the value of the hard work they doing.

01:14:37:13 - 01:14:41:00
Nicolas
So then at the end, the company went public.

01:14:41:00 - 01:14:46:21
Nicolas
It was purchased over time by another player and friends, family, business called them articles.

01:14:46:23 - 01:14:48:01
Nicolas
Who.

01:14:48:03 - 01:15:11:12
Nicolas
Throughout the years increased their presence in the capital of the company. I think now they are about 90% for that company. And in the U.S., what we did is we actually folded the distribution company and gave the right of distribution to Sazerac. So, you know, we looked at different options from Jay-Z to, you know, everything was on the table.

01:15:11:12 - 01:15:31:01
Nicolas
And we selected at the end to get away. And I was like, as a very interesting character in the industry, Mr. Calloway, the owner of LA Martini, because one of the most interesting character I've seen, very much like.

01:15:31:03 - 01:15:32:10
Nicolas
You know.

01:15:32:12 - 01:15:58:02
Nicolas
The the Gordon the father there, you know, the difference I've seen with Mr. K and Mr. Carlos, the industry person, he likes to own assets. He likes to run clients, but he is one of the very people who doesn't have a strong income. So know, you know what I've noticed in the US, everybody wants to be big in the US.

01:15:58:02 - 01:16:15:05
Nicolas
Everybody has an ego. It's the US. The U.S. wants to care, doesn't care. He knows he can win. So you'll just pull away and do the right thing. And there are very few owner in the business that are capable of taking their emotion out of the table.

01:16:15:10 - 01:16:16:23
Nicolas
Or their ego.

01:16:17:01 - 01:16:37:13
Nicolas
And look at the business saying, you know what? This is what I can do. This is what it would take me to be successful. This is not something and makes sense. I'm walking away and what I've seen is very few players have the ability to do that.

01:16:37:15 - 01:16:42:11
Nicolas
Is so important. So one of their many.

01:16:42:11 - 01:16:45:09
Nicolas
Division is the importer.

01:16:45:11 - 01:16:46:05
Nicolas
Who now.

01:16:46:05 - 01:16:54:06
Nicolas
The portfolio managers are flush. La Martinique is for a lot of their brands.

01:16:54:08 - 01:16:58:17
Nicolas
Then and I'd say it was it was the right move to make for.

01:16:58:17 - 01:17:02:00
Nicolas
That company at the time and it's been a very good move for them.

01:17:02:02 - 01:17:04:10
Nicolas
Again, what I think he.

01:17:04:10 - 01:17:26:08
Nicolas
Has been very good. He was very clear on what matters to him and what were the criteria to to have to make a decision. And he stuck to it. And I think that's, you know, having worked a lot that some time with, you know, founders lacking the ability to stick to a clear set of.

01:17:26:10 - 01:17:27:04
Nicolas
Priorities.

01:17:27:06 - 01:17:30:05
Nicolas
Clear set of decision.

01:17:30:07 - 01:17:31:10
Nicolas
Tools.

01:17:31:12 - 01:18:01:06
Nicolas
To drive their business, you know, and that's that. So Mr. Kaya is one of the best actors in the market. GORDON And late Mr. Gordon was incredible as well and his knowledge of the business, the knowledge of the distributor, I think those you know, those those people are foreign to these states in the industry. They really understood it and they have an ethic and.

01:18:01:08 - 01:18:01:12
Nicolas
A.

01:18:01:12 - 01:18:06:22
Nicolas
Way to do business that is quite unique.

01:18:07:00 - 01:18:10:22
Nicolas
Mr. Gordon was the son, the father of Glen Gordon.

01:18:11:03 - 01:18:24:01
Nicolas
Charles Gordon We used to be the one who really brought Glenfiddich and single malt to to the US. He was the chairman of One Ground and he the one who really.

01:18:24:03 - 01:18:24:18
Nicolas
Built wall.

01:18:24:19 - 01:18:43:19
Nicolas
And ground. But he was a character. He was 80 years old and I remember being in marketing better at the business than I did and my friends and would come up every Monday with the results of the depletion to say, what's happening, Why did that distributor only order this? They usually do three times more water. I mean.

01:18:43:21 - 01:18:49:13
Nicolas
The knowledge that that gentleman had was incredible. So you have those people been.

01:18:49:13 - 01:18:57:08
Nicolas
In the business forever understand it. But whatever knowledge they gave Gary, they have a very clear set of.

01:18:57:10 - 01:18:59:05
Nicolas
Sort of it. They have a tool kit.

01:18:59:05 - 01:19:13:18
Nicolas
That they use to assess everything and to stick to it. And I think that's the most important in their business is, you know, you've got to have consistency in whatever you do.

01:19:13:20 - 01:19:17:07
Nicolas
Exactly. Which we all seen can.

01:19:17:08 - 01:19:19:09
Nicolas
Disappear and said.

01:19:19:11 - 01:19:43:20
Nicolas
A lot Yes, it's I mean, some people have that ability. You never know. Right after the bizarre, I went into the wine.

01:19:43:20 - 01:19:44:23
Nicolas
Business and worked for.

01:19:45:00 - 01:19:46:16
Nicolas
Job at home.

01:19:46:18 - 01:20:06:22
Nicolas
Which is one of the largest French wine producer outside of my Nancy to run their business in the US. Very, very charismatic gentleman. One of the big visionary of the wine really started the whole organic biodynamic trend 23, 24 years ago.

01:20:07:00 - 01:20:07:18
Nicolas
Very.

01:20:07:18 - 01:20:24:22
Nicolas
Very successful in the US with a very strong relationship with at every level, especially with the customers. So it was very interesting, stayed there for two years and then joined for a couple of months a Romanian entity to help them.

01:20:24:22 - 01:20:27:19
Nicolas
Share but shut up.

01:20:27:21 - 01:20:31:12
Nicolas
Their business worldwide. So totally different.

01:20:31:14 - 01:20:32:05
Nicolas
I've moved a.

01:20:32:05 - 01:20:57:22
Nicolas
Lot. Well, I've done long stint with some companies, but I've also been involved in a lot of different businesses. So wine was different but very interesting in terms of the way we had built its presence in the US. And then Romania was a lot about structuring businesses with a very large business in Romania market. I didn't know, so I spent a lot of time managing it.

01:20:58:00 - 01:20:59:02
Nicolas
You know.

01:20:59:04 - 01:21:25:01
Nicolas
They were that company's market leader in Romania with 17% share of the market. So much bigger than Diageo and everything. So it was super interesting to manage a very large business and a very big player in that in the market, I think.

01:21:25:03 - 01:21:28:05
Nicolas
And one of those very there's.

01:21:28:05 - 01:21:37:13
Nicolas
Quite a few, but I've always been in between two worlds. I mean in the US and the European American and I'm French and so on a lot of time.

01:21:37:15 - 01:21:38:08
Nicolas
Also because.

01:21:38:08 - 01:22:08:02
Nicolas
I've been in the industry for 25 years now, it's a small industry we all know each other. And so skill set is what people are looking for. And any large company at some point needs a presence in the US. So having someone based in the US, I spend a lot of time in Queens, but it doesn't really matter these days where you're based and the structure and go to market and the principles are the same everywhere.

01:22:08:02 - 01:22:33:16
Nicolas
So that's, that's why I went from the US to most. Our business unit were Southern Europe and we also had Brazil. So but they had they have plans to develop themselves in, the US. So it made sense for them to have a local person after that.

01:22:33:16 - 01:22:35:21
Nicolas
So now I just.

01:22:35:23 - 01:23:17:04
Nicolas
You know, finished with them. I'm looking at, you know, to your point about leadership and everything, I'm looking at starting my own business around distribution and in the us and because I believe there are, as you were saying, room for two African solution.

01:23:17:06 - 01:23:19:22
Nicolas
Yeah. I don't I mean if you're in law school I don't.

01:23:19:22 - 01:23:31:19
Nicolas
Think you need to I'm not too sure if if I wasn't owner of a no alcohol, I wouldn't use a distributor. Why go through a model? You don't need to.

01:23:31:21 - 01:23:34:12
Nicolas
I would I would actually state law.

01:23:34:12 - 01:23:41:04
Nicolas
College different because depending on the state, you're still stuck with a distributor. But I don't think that you have.

01:23:41:04 - 01:23:43:18
Nicolas
To a lot of them do go.

01:23:43:20 - 01:23:48:09
Nicolas
Because it's they see themselves as.

01:23:48:11 - 01:23:49:11
Nicolas
They see themselves.

01:23:49:11 - 01:24:13:23
Nicolas
As spirit brand or alcoholic brand with a twist. That's not cool. And I'm not too sure you need to do that. I think you can you can totally change your route to market and save a lot of money in the value chain by doing that because you know your distributor doesn't work for nothing. And they used to very large margin.

01:24:14:01 - 01:24:45:03
Nicolas
And whether you're non-alcohol low alcohol or with alcohol, they're not going to dry the number down just, you know, just for your for you.

01:24:45:05 - 01:24:47:08
Nicolas
I think I was I.

01:24:47:08 - 01:24:53:15
Nicolas
Was very fortunate to to have a lot of good people I worked with. So I think in every company.

01:24:53:21 - 01:24:54:23
Nicolas
I've worked with.

01:24:55:01 - 01:24:57:03
Nicolas
The had always people.

01:24:57:05 - 01:24:58:17
Nicolas
Who.

01:24:58:19 - 01:25:06:23
Nicolas
I could go to and were straightforward, you know, and helped you. So I think, you know, whether it's William Grant.

01:25:07:01 - 01:25:08:06
Nicolas
You know.

01:25:08:08 - 01:25:12:07
Nicolas
Where you had Jonathan use and you used to be my boss at a time and, and so I.

01:25:12:09 - 01:25:13:12
Nicolas
Had a lot of people.

01:25:13:12 - 01:25:29:23
Nicolas
Sort of giving me a chance, trust in me. And I think, you know had the same at Remy make Mike Thomas at the beginning of when I joined was instrumental so I think you can always find that and I think what makes a good mentor.

01:25:29:23 - 01:25:31:00
Nicolas
I never had someone.

01:25:31:00 - 01:25:57:05
Nicolas
Who sort of followed me throughout my career was and more people who serve as anchor when I was in roles. And I think what I've noticed is most of them just were straight, straight, straight with you, very honest, I think figures, as I mentioned, that people really were inspiring. I would say that people like, you know, Mr. Kaya Charles Gordon.

01:25:57:07 - 01:25:58:03
Nicolas
Even, you know.

01:25:58:08 - 01:26:07:14
Nicolas
The better people who are so visionary, so interesting that it's it's sort of very, very.

01:26:07:16 - 01:26:09:14
Nicolas
Very good role.

01:26:09:14 - 01:26:28:19
Nicolas
Models. But I think a mentor and I know if you remember Alan Hertzfeld, that Remy was really good as well. She was a great marketer, good, good people skills. So I think it's it's really having the chance if people care. I think as long as you find someone who care and are looking.

01:26:28:21 - 01:26:34:13
Nicolas
And are able to guide you and have their tough chat.

01:26:34:16 - 01:26:38:04
Nicolas
When they need to because we all tend to stray. And I was.

01:26:38:10 - 01:26:40:07
Nicolas
Really good at that. You know.

01:26:40:09 - 01:26:43:06
Nicolas
I got lucky to if people would just tell me you're.

01:26:43:08 - 01:26:46:08
Nicolas
You know, calm down, you're out of your mind.

01:26:46:08 - 01:26:49:18
Nicolas
This is not working. Or what you're doing is getting.

01:26:49:20 - 01:26:58:22
Nicolas
The absolute opposite of what you want to do. So I could name so many people in a way that really have served me help me.

01:26:59:00 - 01:27:24:11
Nicolas
But I think it came to their true desire to help and care for their people and their ability to to be honest with with with with the people in their team.

01:27:24:13 - 01:27:31:03
Nicolas
No, because, I mean, I wish I could be a lot more like that and more of a I learn by.

01:27:31:03 - 01:27:34:12
Nicolas
Doing so.

01:27:34:14 - 01:27:36:18
Nicolas
As I have a hard.

01:27:36:18 - 01:28:01:20
Nicolas
Time or I think there is none. I think for me it's been always being exposed to different things. So love that help me is curiosity and I've been able to be in a lot of different markets being with a lot of different project brands at different stage of their, their lifecycle. So I think it's the exposure and the curiosity that you have because whatever notices.

01:28:01:22 - 01:28:02:09
Nicolas
You can.

01:28:02:09 - 01:28:04:09
Nicolas
Always and we've all been there, you.

01:28:04:13 - 01:28:05:08
Nicolas
Know.

01:28:05:09 - 01:28:07:01
Nicolas
If you've, if you show.

01:28:07:01 - 01:28:33:21
Nicolas
Interest and passion, people will give you more. They will want you to learn and they will look at you your best. So it just having the right attitude and now being able to try different things or things different.

01:28:33:23 - 01:29:20:22
Nicolas
So you have to send me the list so I can listen to them as well. It it's the routine. I know that.

01:29:20:22 - 01:29:49:02
Nicolas
With pleasure. Thank you very much.

01:29:49:04 - 01:29:50:16
Nicolas
I think to me, the most important.

01:29:50:16 - 01:29:58:05
Nicolas
For a lot of people is going back to your priorities is a knowledge that a lot of time it's understanding what matters.

01:29:58:09 - 01:29:59:03
Nicolas
A lot.

01:29:59:07 - 01:30:24:07
Nicolas
Between what people say and what truly matters. If you look at what I've seen often and spirit is a perfect thing, there is a difference between the declared time. You have to do something in the reality. So the pain point has always that they tell you, Take the time, let's build a brand, let's do the right thing. In six months after this is sorry, we need volume, we need this, we need that.

01:30:24:09 - 01:30:32:15
Nicolas
So I think as a business, it's always your ability to balance what's right, what you are saying to the brand.

01:30:32:19 - 01:30:33:18
Nicolas
With.

01:30:33:20 - 01:30:49:10
Nicolas
The immediate needs that the business may. Have you mentioned earlier some people go and want to move some stock and drop it and then it affect their price. You know, consistency. It's all of those. And I think you have to learn how to.

01:30:49:12 - 01:30:51:07
Nicolas
Not lose your head.

01:30:51:09 - 01:31:14:20
Nicolas
Because you know that a move may be wrong. But if a business needs it, then it's how do you how do you navigate those waters? And as a business owner, I would say I always ignore the fallacy that you can make a lot of money on on our business quickly. And what I always say, it's the very rare interview that the only one you hear about.

01:31:14:20 - 01:31:25:02
Nicolas
But if you take, you know, one of the biggest successes in the last 20 years, which is Tito, I mean, the guy was bankrupt twice. He took.

01:31:25:03 - 01:31:26:19
Nicolas
Him eight.

01:31:26:22 - 01:31:32:17
Nicolas
Years to be the brand that no one can now purchase. And he is you know, he's a mammoth.

01:31:32:19 - 01:31:35:10
Nicolas
But, you know, people forget that for eight.

01:31:35:13 - 01:31:39:19
Nicolas
Year, the poor guy has been struggling, suffering and leaving every.

01:31:39:19 - 01:31:41:15
Nicolas
Pain possible.

01:31:41:17 - 01:31:55:20
Nicolas
But he stuck to what what he thought was right. And I think that's the most important in the industry that, you know, it takes time to build brands.

01:31:55:21 - 01:32:06:14
Nicolas
Yeah. Or they want to know in a podcast because it's fun. They just want to have to go through it. They just want to hear about it.

01:32:06:16 - 01:32:27:14
Nicolas
But I think that to me is one of the major pain points we have in that dichotomy of immediacy and return with the reality that, as you were saying, especially in the US, as you don't control the entire flow, you may have the best desire or the best tool, but it is to get through. And there's multiple layers, not every one of the same objectives.

01:32:27:14 - 01:32:54:02
Nicolas
So it just you have to take that into consideration and never forget that point.

01:32:54:04 - 01:32:54:22
Nicolas
There's so.

01:32:54:22 - 01:32:57:04
Nicolas
Many things. I think it's.

01:32:57:06 - 01:33:00:00
Nicolas
An ever evolving thing. You know.

01:33:00:02 - 01:33:26:02
Nicolas
Everybody talks about it, but it is going to be in a game changer because at the end, you know, you're just going to change everything we do and force us to be different. I think ability to gather and utilize that. I will also change a lot. We are an industry where there was very little data available and more data becomes available.

01:33:26:02 - 01:33:51:08
Nicolas
The more that where we go to market to people, I think you're going to lose a little bit of the mystique that we had in the business. But you're also going to get a lot more efficiency in terms of how you manage it and I think that's going to be the trick is you've seen a lot of the players are PAYG and very hardcore consumer goods used to really analyze data.

01:33:51:10 - 01:33:52:02
Nicolas
I think.

01:33:52:04 - 01:33:52:17
Nicolas
You know.

01:33:52:19 - 01:33:58:22
Nicolas
We are evolving. I don't think we'll go all that way, but we can just three or.

01:33:59:00 - 01:34:00:13
Nicolas
Four.

01:34:00:15 - 01:34:18:21
Nicolas
Little tricks of relationship only based business.

01:34:18:23 - 01:34:25:16
Nicolas
No? Well, we talked about we talked about it. I can I mean, I play soccer.

01:34:25:18 - 01:34:37:20
Nicolas
So I'm a big soccer person. I like to travel. So if I if I can I go just travel and discover new things, new culture or otherwise. I'll watch this year, read a book.

01:34:37:22 - 01:34:42:15
Nicolas
That you know, and have a very active.

01:34:42:17 - 01:34:49:07
Nicolas
Artist wife. So she's the one who keeps and open up a lot, as you were saying. Is she the one who.

01:34:49:08 - 01:34:56:06
Nicolas
Listen to podcast reads? And as a so I'm just a sponge just trying to parasite and learn.

01:34:56:06 - 01:35:00:04
Nicolas
From what she does because she's a totally different world, which I love. I think when I.

01:35:00:06 - 01:35:02:01
Nicolas
Get out and I love working.

01:35:02:03 - 01:35:06:22
Nicolas
I try not to. I want to totally.

01:35:07:00 - 01:35:07:16
Nicolas
Think and.

01:35:07:16 - 01:35:10:14
Nicolas
Learn about something totally different.

01:35:10:16 - 01:35:12:14
Nicolas
As a.

01:35:12:16 - 01:35:21:09
Nicolas
Yeah, well, I learned I don't know, my wife would tell you that I don't learn and that I'm too stuck in my ways. But I think I.

01:35:21:10 - 01:35:28:12
Nicolas
Like to look, I like to observe, try to understand how other do I find it.

01:35:28:14 - 01:35:28:23
Nicolas
Super.

01:35:28:23 - 01:35:58:02
Nicolas
Interesting to learn about other businesses because you know, it's a different you were saying how do you learn? I think some tend to just looking at different industry, totally different problem that makes you either reconsider what you do or give you ideas that you would never have had. If you're always in the same bubble.

01:35:58:04 - 01:36:26:11
Nicolas
Mm hmm. Yeah, I I moved to Dallas. Right?

01:36:26:13 - 01:37:25:14
Nicolas
The company that was, you know, definitely let's let's have a nonalcoholic alcohol or drinks together. Exactly. Exactly. You we go. Here we go.

01:37:25:16 - 01:38:35:18
Nicolas
Na, na na na na. And thank you. Thank you for the kind words. Thank you all fully. In a few months we can get back and I can tell you all the stories of those founders and all the awfully not too that sorry definitely you. Yeah. Mm.

01:38:35:20 - 01:38:36:03
Nicolas
Yeah.

01:38:36:07 - 01:38:39:00
Nicolas
And I totally agree and agree more.

01:38:39:02 - 01:38:48:18
Nicolas
Well, thank you, Jessie. Thanks My.

01:38:48:18 - 01:38:53:20
Jessie Ott
This week's episode was produced by Fedora J Productions.