Bacardi vs Pernod Ricard | The Liquor Lobby | 4

Business Wars

Wondery

History, Business, David Brown, Management

4.6 • 13.2K Ratings

🗓️ 26 July 2021

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Bacardi has one-upped Pernod Ricard by deploying a U.S. trade embargo to block imports of Pernod Ricard and Cuba’s rum. So Castro announces that Cuba will make copycat products of American companies, ignoring their U.S. trademarks.

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Transcript

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0:00.0	Hey, prime members, you can listen to business wars, add free on Amazon music.
0:04.8	Download the app today.
0:07.0	It's December 1996 in Washington, D.C.
0:21.0	Leanne Rhymes sings for a bundled up crowd of the national Christmas tree lighting ceremony
0:26.0	outside the White House.
0:28.0	The president Bill Clinton is about to flip the switch to turn on the tree lights and start the holiday season.
0:34.0	But only a few hundred yards away.
0:37.0	Things aren't quite so festive.
0:41.0	Inside the Ornate U.S. Treasury building, 35-year-old Ignacio Sanchez, the attorney for Bacardi,
0:48.0	nervously taps his foot as he waits to make his case.
0:52.0	He'll be arguing against the French-spirits maker Prenaud Recards claim to Havana Club.
0:57.0	Prenaud Recard has just filed suit against Bacardi in U.S. Court to prove it's the rightful owner of the brand.
1:05.0	Sanchez has come to Washington hoping to blow a potentially fatal hole in the French-spirits maker's case.
1:12.0	He waits outside the office of Rick Newcombe, the no-nonsense 49-year-old head of the Treasury's Office of Foreign Assets Control,
1:20.0	better known as O-FAC.
1:23.0	Newcombe's door suddenly swings open.
1:26.0	Okay, Sanchez, get in here and tell me exactly what you think I don't understand about U.S. law.
1:32.0	Sanchez hurries inside.
1:35.0	He pulls up a chair, wipes his sweaty hands on his pants, and then sits down.
1:40.0	I'm here because, in 1995, O-FAC granted a trademark license to the joint venture between Prenaud Recard and the Cuban government to make Havana Club.
1:49.0	I think that was a mistake.
1:51.0	Newcombe's office is responsible for imposing sanctions on foreign governments that violate U.S. trade laws.
	...

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