"Although the American whiskey business once used to be passed on from one generation to the next, it now largely is not, yet the business of making bourbon country's most crucial equipment still is, and maybe that counts for something".
The above is a quote from page 189 of, "Bourbon, Straight", the recent, essential bourbon book by our Charles K. (Chuck) Cowdery.
Chuck is referring to Vendome, the distillery equipment maker based in Louisville, a business that is over 100 years old.
My questions are, why has Vendome survived for so long? Why has it not encountered local competition?