White Claw helped make hard seltzer a staple for American drinkers. Now it's getting into the spirit business with its own vodka brand because of new rules passed during the pandemic.
The company's new vodka line was made possible by a change in regulations by the Alcohol and Tobacco Tax and Trade Board (TTB). Previously, the agency required spirits to be "without distinctive character, aroma, taste, or color," but that rule was lifted in 2020.
"We believe that quality vodka shouldn't be defined by what it lacks, and we seized the enormous opportunity to create a distinctive spirit," said Anthony von Mandl, O.C., O.B.C., founder & CEO of The Mark Anthony Group of Companies, which owns White Claw.
"We disrupted the industry, creating an entirely new taste in the Hard Seltzer category with White Claw by bringing new thinking, technology breakthroughs, and our unmatched iconic flavors to market."
The company said it uses a high-pressure filtration process that gives the vodka a smooth, aromatic taste.
"We spent almost a decade researching and developing a new way to show drinkers what complexity looks, tastes, and feels like within the minimalist experience of vodka," von Mandl said.
White Claw's venture into spirits comes amid an industry-wide push to innovate alcoholic beverages, with many companies embracing "ready-to-drink," low-calorie, and healthier options.
The stunning indictment that led to the arrest of more than 30 people — including Miami Heat guard Terry Rozier and other NBA figures — has drawn new scrutiny of the booming business of sports betting in the U.S. The multibillion-dollar industry has made it easy for sports fans — and even some players — to wager on everything from the outcome of games to that of a single play with just a few taps of a cellphone. But regulating the rapidly-growing industry has proven to be a challenge. Professional sports leagues’ own role in promoting gambling has also raised eyebrows.
Tesla, the car company run by Elon Musk, reported Wednesday that it sold more vehicles in the past three months after boycotts hit hard earlier this year, but profits still fell sharply. Third-quarter earnings fell to $1.4 billion, from $2.2 billion a year earlier. Excluding charges, per share profit of 50 cents came in below analysts' estimate. Tesla shares fell 3.5% in after-hours trading. Musk said the company's robotaxi service, which is available in Austin, Texas, and San Francisco, will roll out to as many as 10 other metro areas by the end of the year.
Starbucks’ AI barista aims to speed service and improve experience. Nick Lichtenberg, Fortune Business Editor, explains its impact on workers and customers.
As Big Tech reports Q3 earnings, investors await proof that massive AI and cloud investments from Meta, Apple, Microsoft, and Alphabet are driving real growth.
