Market Watch July/August 2017

Tequila’s ascent has been a sight to behold. Unlike the whisk(e)y boom, which seemed to come out of nowhere, Tequila’s entry into the luxury realm can largely be attributed to the vision of one player, Patrón, which spearheaded the movement and dominates the luxury end with a market share of more than 70 percent. But now its competitors are also making their mark in a race to see who else can fly far in a category rich with opportunity. In many ways, that race has only just begun. Tequila accounts for just 7 percent of all U.S. spirits volume, compared with vodka’s 34 percent. Over a relatively recent time span, all the major multinationals have boosted investment in their own upscale labels, and they’re still getting their arms around this…

Pernod Ricard Buys Del Maguey Mezcal.... Pernod Ricard has taken a majority stake in Del Maguey Single Village mezcal for an undisclosed sum. Established in 1995, Del Maguey ($35 to $200 a 750-ml.) offers a range of super-premium mezcals sourced from Mexico’s Oaxaca region, with each expression highlighting the village in which it’s made. Under the terms of the deal, Del Maguey’s management team—which includes founder Ron Cooper, Michael Gardner and Steve Olson—and existing Mexico operations will remain in place. Del Maguey, which sells under 50,000 cases in the United States, according to Pernod, joins the company’s New Brand Ventures division, an incubation unit established last year that also markets the Smooth Ambler, Lot 40 and Aberlour whiskies; the Monkey 47 and Plymouth gin brands; and Lillet aperitif. NFL Allows…

Ancient Brews Biomolecular archeologist and experimental beermaker Patrick McGovern has written a book that traces the history of fermented drinks and reveals the science behind them. Published by W.W. Norton, “Ancient Brews: Rediscovered and Re-created” ($26.95) travels from prehistoric China to ancient Egypt to present-day Peru, emphasizing how alcoholic beverages shaped culture. McGovern partnered with Dogfish Head Craft Brewery—whose founder, Sam Calagione, wrote the foreword—to produce a line of historical re-creations called Ancient Ales, and this 336-page hardcover provides recipes for making the beers at home. Each chapter highlights one of the Ancient Ales, sharing the story behind the brew, the process of creating it, a “Homebrew Interpretation” and a meal pairing suggestion. For more information, visit Wwnorton.com. Kelvin Frosé Brooklyn, New York–based Kelvin Slush Co. introduced its newest flavor—Frosé—in…

Chicago Rooftop Lounge Offers Dramatic, Stylish Drinks Serving over-the-top cocktails in an opulent setting that overlooks Chicago’s River North neighborhood, the upscale lounge Apogee opened in May atop the Dana Hotel and Spa. The venue, operated jointly by the hotel and The Fifty/50 Restaurant Group, offers an impressive beverage menu crafted by local barman Benjamin Schiller that features single-serve and large-format cocktails. Specialty drinks ($13 to $18) include the Panda Party, mixing Cruzan Blackstrap rum, Pierre Ferrand 1840 Original Formula Cognac, Kübler absinthe, Angostura Aromatic bitters and ginger syrup, topped with sesame seeds, orange powder and an edible flower, and the 221 B, comprising Ford’s gin, Aperol aperitif, Pimm’s No. 1 liqueur, Peychaud’s bitters, tangerine extract, muddled strawberry and fresh aprium, topped with cotton candy and basil powder. Large-format drinks…

??Miami’s SLS Brickell hotel, owned by hospitality firm SBE, welcomed the indoor-outdoor, safari-themed lounge Saam in May. Restaurateur José Andrés created the concept’s menus, offering warm weather–friendly specialty cocktails and light fare like sandwiches and charcuterie. ??Nestled atop The Robey and Hollander hotel complex in Chicago’s Wicker Park, the rooftop lounge Cabana Club opened in May. The venue, which features a pool and has a vacation-like atmosphere, boasts outdoor seating and views of the city’s skyline, along with craft cocktails and Latin- and Mediterranean-inspired small bites. ??New York City–based Gerber Group unveiled The Campbell in Manhattan’s Grand Central Terminal in May in the former space of The Campbell Apartment, which closed in July 2016. The revamped concept includes its long-standing main bar, as well as two additional smaller side bars.…

Latin American Cuisine Takes Center Stage In Las Vegas The Venetian Las Vegas welcomed its first Latin food restaurant with the debut of Chica Las Vegas in May. Operated by 50 Eggs, which also runs The Venetian’s Yardbird Southern Table & Bar, Chica boasts a wide-ranging Latin menu that incorporates foods from Venezuela, Peru, Brazil, Mexico and Argentina. Chef and TV personality Lorena Garcia created the concept’s Latin-fusion menu, offering hot and cold small plates, as well as larger entrées. Starters include grilled corn lollipops, ceviche, grilled Peruvian octopus and chicken chicharrones ($10 to $16), while main dishes range from a roasted Brazilian beef tenderloin to asado negro short rib to pepita-crusted lamb ($22 to $39). Chica’s drinks program features various takes on the Margarita alongside creative cocktails that incorporate…