209 - Warehouse Fires and Heaven Hill’s Bottled in Bond Relaunch on Bourbon Community Roundtable #34

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🗓️ 11 July 2019

⏱️ 80 minutes

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Summary

A warehouse disaster is a large concern for the bourbon industry, but some people in the community make jokes and laugh at the situation. Should this be considered normal? Heaven Hill phased out their 6 Year Bottled in Bond product that was a true bargain brand to many bourbon consumers and launched a very similar product with a 3X price increase. Was this a good move by Heaven Hill? Are they competing in a high price bracket? Did they just cannibalize their own products? Is this the first #KentuckySnub? We tackle all this and more on Bourbon Community Roundtable #34. Show Notes: This week Ryan talks about launching a bourbon brand. Look for a new segment called Whiskey Quickie launching next week. Brian Harra’s Sazerac Brands v. Peristyle: Bourbon History Matters as a Matter of Law - https://brianhaaracom.files.wordpress.com/2019/07/haara-bourbon-history-matters-as-a-matter-of-law-ky-jeanrl-2019.pdf Jim Beam Warehouse Fire Heaven Hill 7-Year Bottled-in-Bond Was it the right move to discontinue 6-Year BIB and relaunch with 7-Year at a higher price point? Do you think this product competes with the Woodford and Knob Creek price point? Is Heaven Hill competing against themselves? Why wouldn't Heaven Hill launch in Kentucky on day one? How do you best support retailers that elevate prices for hard to find bottles?

Transcript

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0:00.0	my wife was like, I was like, remember I got podcast, she goes, oh, it's so annoying.
0:06.5	Can you just do one of those round tables? And I'm like, that was last month.
0:20.3	Hey everybody. It is episode 209 of Bourbon Pursuit. I'm one of your host, Kenny, and the
0:25.7	bourbon news cycle, it moves quick. What's trending one day is going to become pretty stale soon.
0:31.6	And I'm sure many of you are like myself. When a bourbon warehouse collapses or when 45,000 barrels of bourbon go up in flames
0:38.9	from a lightning strike at a Jim Beam warehouse, we probably get a lot of messages on our inbox
0:43.2	about it. And I kind of want to focus on this and say, where are we at today on the current
0:48.4	situation? So on July 4th, the Woodford County Fire Department waited to extinguish the fire for a few days because, as they said, there is less environmental impact to allowing the ethanol and just letting it continue to burn.
1:01.6	Beam Suntory put out a press release saying that the barrels in the warehouse contain relatively young whiskey from the Jim Beam Mashville, and thus it will not impact availability of the product to its
1:12.4	customers, and they are going to be working with local, state, and federal agencies to conduct
1:17.1	response operations. And now, beyond just the whiskey, Jim Beam is looking at a $50 million loss.
1:24.4	That would be the bourbon loss at around 45 million with an estimated additional
1:28.9	$5 million in the damages to the warehouses and the cleanup process. And that cleanup is going
1:34.4	to be in response to a mass amount of bourbon that has entered the Ohio River after traveling
1:40.0	more than 20 miles down the Kentucky River. And the Kentucky's division of fish and wildlife is already characterizing the spill as a
1:47.2	severe fish kill, though officials are still continuing to assess the damage to the aquatic
1:52.4	life.
1:53.4	In a Facebook post on Monday, the Kentucky Energy and Environment Cabinet said that the Department
1:58.7	Fish and Wildlife Resources is on the river again,
2:02.3	and they are continuing to assess the fish count kill, and the results are continued to pen.
2:07.2	They are also going to see dead and dying fish.
2:09.9	People are using the Kentucky River in the area, and they're going to start seeing and smelling
	...

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