Market Watch, Summer 2020
38 MARKET WATCH MARKETWATCHMAG COM SUMMER 2020 T here was a time not too long ago when Tequila was defined by shots and the classic Margarita and was led by only a few big brands There was Cuervo or Patrón and it was mixto or 100 agave says Martin Hoff stein co founder of Jaja Tequila Now in many ways Tequila is experiencing what whisk e y has seen there are so many different styles on offer with brands playing around with differ ent casks aging periods and more Tequila has moved into 2020 telling a markedly different story than the one it told a decade ago A flurry of activity has resulted in a proliferation of prominent new brands and unique expressions many at the luxury end of the category Such wide ranging innovation has consequently expanded the very notion of what Tequila can be Its no longer relegated to high octane lowbrow celebrations at the bar As the cate gory has received more attention its U S volume has risen in tow in 2019 some 227 million cases of Tequila were imported from Mexico up 112 from the year prior and a vast increase from 2010 when imports stood at 1315 million cases according to Impact Databank Tequila is cementing its status as a star of the spirits industry BY JULIA HIGGINS On Fire As more Americans embrace Tequila more brands are in turn looking to the luxury end Premium priced Tequila mainstay Jose Cuervo Hotel Solar de Animas bar pictured for example debuted the first ever añejo within its 100 blue agave Tradicional lineup in April PHOTO BY BEN OLIVERAS Tequila
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