Michael Jordan’s Cincoro Tequila Announces Leadership Shakeup
Michael Jordan’s uber-expensive Cincoro Tequila has just tapped Jeff Agdern as its new president in a renewed push toward global expansion.
An industry veteran with over twenty years of experience at Pernod Ricard, the world’s second-largest wine and spirits seller, Agdern was described as a “first-round draft pick” by Cincoro CEO Emilia Fazzalari.
Cincoro Tequila was first founded back in 2019 by an unlikely group of basketball rivals turned allies; NBA Hall of Famer Michael Jordan, Milwaukee Bucks co-owner Wes Edens, Los Angeles Lakers owner Jeannie Buss, and Wyc Grousbeck and Emilia Fazzalari of the Boston Celtics.
Since its founding, Cincoro has differentiated itself from the crowd of celebrity-owned tequilas with slender, eye-catching bottles and truly mind-boggling price tags. While their Blanco sells for $72, their Extra Añejo runs the gamut up to $1,500.
Ultra-premium seems to be the name of the game for Cincoro Tequila. Of course, Michael Jordan’s stardom has gone a long way in justifying those exorbitant price tags.
All throughout The Last Dance, the acclaimed 2020 docuseries chronicling the 1997-98 Chicago Bulls season, Jordan could be seen conspicuously sipping on Cincoro during his interviews.
To date, Cincoro has sold just under two million bottles nationwide. International distribution is still a work in progress, and is likely the reason behind their recent appointment of Agdern as new brand president.
In a September 2022 interview with Forbes, the Cincoro team named Europe, Brazil, Southeast Asia, Australia, Germany and the UK as their key markets for expansion.
“Our focus is to continue to grow the brand domestically and then go global,” says Fazzalari, Cincoro CEO. “I think with this ownership group we have a really amazing opportunity to do that in a big way. Innovation is in our DNA. We launched our fifth expression and have more in the queue that will come out in the future.”
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