Early Times 150th Anniversary

[Josh]

Just found this item on the Michigan Supplemental Price list for March 28, 2010. Anybody know anything else about this? Is it supposed to be similar to the OF 75th anniversary of repeal edition, w/the giftbox, etc?

EARLY TIMES 150TH ANNIVERSARY 100 proof 375 ml $9.96

It's listed under Straight Bourbon. But the regular ET is too.:skep:

[Gillman]

Good catch on that one, all further details appreciated.

Gary

[bourbonv]

Chris Morris was talking about this at the Woodford Academy last Saturday. This is going to be an aged version of the Kentucky Whiskey, I think he said 6 or 8 years old, but still some used cooperage in this product. It is the prelude to the re-release in the United States of Early Times Bourbon later this year.

Mike Veach

[cowdery]

Every bourbon-maker, it seems, owns a piece of the Beam family legacy. Brown-Forman is no exception, as the founder of Early Times 150 years ago was Jack Beam, Jim's uncle. They were, apparently, pretty close, as Jack was best man at Jim's wedding.

[bourbonv]

Brown-Forman is also reproducing the old Early Times label from Jack Beam's day for this bottle. It is interesting how close it looks to the Jim Beam white label.

Mike Veach

[craigthom]

That's a much better price than the Repeal release of OF.

I remember when Early Times switched from a bourbon to what it is now. I was working at a liquor store, and I noticed the difference when stocking the shelves.

Are they switching it back to bourbon, or are they going to have both?

[bourbonv]

They are going to have both on the shelves. Early Times Kentucky Whiskey is still a major seller for Brown-Forman so there is no reason to pull it from the market. They simply want to have the Early Times Bourbon back in the United States. The Bourbon has been available in Japan all along and the Kentucky whiskey is still a majority boubon in the bottle so they have plenty of the bourbon made already.

Mike Veach

[Josh]

I can't help wondering if the relaunch of ET KSBW has anything to do with the release of Old Crow Reserve. Historic brand, lower shelf, there seem to be a lot of parallels.

[bourbonv]

Actually it has more to do with competing with Jim Beam White label. About a year ago, the Bourbon Society participated in a blind taste test to determine if Early Times Bourbon should be re-released in the United States and it was Jim Beam white that was used as the competitor bourbon. Needless to say, Early Times Bourbon fared very well and Brown-Forman decided it was worth bringing back to the United States.

Mike Veach

[wadewood]

Matching up against Jim Beam White is not much of a test. I know Jim Beam White is huge, but I bet 98% of it when consumed gets mixed with Coke or something else or drunk swiftly as a shot. IMHO, it's not a sippin whiskey. Jim Beam Black is another story, pretty good stuff, and usually just a few dollars more. If the Early Times bourbon will be 6-8 YO, then Jim Beam Black would probably be the better comparison.

[bourbonv]

The price point they plan to compete at is the Jim Beam White price point. They are hoping to win over some of those Jim Beam White drinkers. I think they will do well in that competition. I think their bourbon is going to be a 4-5 year old product like their overseas bourbon, but Brown-Forman heats their warehouses so they do not like to talk years, but maturity of the whiskey. They feel their 4yo product is as mature as many 6yo products because of the extra heat cycling during the winter.

Mike Veach

[OscarV]

a blind taste test to determine if Early Times Bourbon should be re-released in the United States and it was Jim Beam white that was used as the competitor bourbon.

[craigthom]

Matching up against Jim Beam White is not much of a test. I know Jim Beam White is huge, but I bet 98% of it when consumed gets mixed with Coke or something else or drunk swiftly as a shot. IMHO, it's not a sippin whiskey. Jim Beam Black is another story, pretty good stuff, and usually just a few dollars more. If the Early Times bourbon will be 6-8 YO, then Jim Beam Black would probably be the better comparison.

But it's the best-selling bourbon in the world, which I think is the point. It's not us they want to sway, it's some of those Jim Beam buyers.

[Josh]

But it's the best-selling bourbon in the world, which I think is the point. It's not us they want to sway, it's some of those Jim Beam buyers.

Of course, Brown-Forman also owns the best selling whiskey in the world, JD.

What I know about business could fill a post-it note, but I can't decide if a relaunch of ET KSBW is smart or pointless. Smart, in that they are going after one segment of the market they don't dominate, pointless in that JD makes a gazillion dollars a year anyway, so why bother going after JBW?

[jburlowski]

Of course, Brown-Forman also owns the best selling whiskey in the world, JD.

What I know about business could fill a post-it note, but I can't decide if a relaunch of ET KSBW is smart or pointless. Smart, in that they are going after one segment of the market they don't dominate, pointless in that JD makes a gazillion dollars a year anyway, so why bother going after JBW?

So they can make more than a gazillion dollars. :bigeyes:

[bourbonv]

The stock holders would love to see Early Times increase its sales and make more money for them. That is the point. Without profit they go out of business and there is no bourbon from Brown-Forman, so I am encouraged they are investing in Early Times. I would love to see them do a premium version of Early Times... Something similar to Old Forester Birthday Bourbon.

Mike Veach

[unclebunk]

They are going to have both on the shelves. Early Times Kentucky Whiskey is still a major seller for Brown-Forman so there is no reason to pull it from the market. They simply want to have the Early Times Bourbon back in the United States. The Bourbon has been available in Japan all along and the Kentucky whiskey is still a majority boubon in the bottle so they have plenty of the bourbon made already.

Mike Veach

Thanks for all the info, Mike. So, has the ET Bourbon hit the market yet here in the US? I haven't seen it but wondered when it will be available. My elderly neighbor will be thrilled when I buy him a bottle and leave it on his doorstep!

[bourbonv]

I believe the Bourbon will hit selected markets this fall. I am not sure that Kentucky is going to be one of the selected markets. I believe they will hit the markets that are big Jim Beam White markets first and I am not sure Kentucky fits that criteria.

Mike Veach

[Josh]

The stock holders would love to see Early Times increase its sales and make more money for them. That is the point. Without profit they go out of business and there is no bourbon from Brown-Forman, so I am encouraged they are investing in Early Times. I would love to see them do a premium version of Early Times... Something similar to Old Forester Birthday Bourbon.

Mike Veach

[Ultra]

I am aware that businesses go out of business without profits. That much is on the post-it note. My question was, why invest in ET when JD is such a cash cow that they could coast on that alone?

[cowdery]

This sudden interest in the bottom shelf is being driven by a couple of things.

First, sales in that segment have finally started to grow again after declining for something like 30 years. Margins aren't as good down there, but that's where the volume is, and if that volume is picking up, no major producer wants to pass that up.

Second, the vagaries of the aging cycle mean a shortage can quickly turn into a surplus and vice-versa. In this case, after a few years of tight supplies and production ramp-ups, Australia starting taxing ready-to-drink (RTD) cocktails (which is how most bourbon there is sold) at a many-times higher rate. Since they didn't similarly tax competing beverages, like beer, people just switched to beer and sales of the RTDs plummeted. Since RTDs use 2-year-old whiskey, all of the producers suddenly had way too much young whiskey. What to do with it? Old Crow Reserve, Early Times Bourbon.

Third, much like Diageo almost instantly regretting its 1999 exit from the American whiskey business, Brown-Forman has always had some doubts about its decision to change Early Times, which at one time was very close to Jim Beam white in sales. Early Times has remained a bourbon not just in Japan but everyplace else it is sold except the United States.

I haven't heard much about this reintroduction so it will be interesting to see how Brown-Forman does it. I don't think they'll do it the way some of the cats and dogs people do, where Old Fishbones is Kentucky whiskey in some (U.S.) markets but bourbon in others, although it's state-by-state and they're nowhere on the shelf together. I think BF will treat it as a line extension, like Old Crow Reserve, with a distinctly different label.

For one thing, they don't want to wake up the people who still think Early Times is a bourbon.

[bourbonv]

Chuck,

Very perceptive post, as always. It is my understanding that they do plan to keep the Kentucky Whiskey on the shelf and the Bourbon will have a different label. Chris points out that the Kentucky Whiskey does sell quite well already and Brown-Forman does not want to loose that. He states that if you are a fan of the lighter tasting product at a an affordable price (Early times Kentucky Whiskey) then it will still be available. If you want something with a little more flavor and only slightly higher price, then there will be Early Times Bourbon.

I will be interested in seeing how the Kentucky Whiskey sales hold up to the market with the bourbon as a competitor. I suspect that the Whiskey will remain at the same price point or even drop a few cents, while the bourbon will eventually fall in line with the Old Forester price point. In any case, I am glad to see this old Brand get some new attention.

Mike Veach

[jburlowski]

And, of course, sales from the "bottom shelf" have grown because of the recession.

[Hawg73]

John Hansell has the press release up on his blog.

http://www.whatdoesjohnknow.com/2010/04/08/new-early-times-150th-anniversary-whisky/

[p_elliott]

Other reasons....

Nothing lasts forever. JD's fantastic sales aren't guaranteed in the future. One must try to market all products in their portfolio to the best of their ability or they shortchange the potential their prior efforts have built into the product. Brown-Forman's future is no more secure than yours or mine. Ask GM.

Customers of current products are earned and maintained through proper brand management. To search for and attempt to recognize where their brands can be grown is something that we as bourbonites should be encouraging in all of the distillers. So much better than letting quality old brands literally languish and die on the shelves. The profit motive benefits all of us, producers and consumers.

You might explain that to Jim Beam.