Diageo Strikes Deal To Trade Cîroc and Lobos 1707 Rights, Foster Collaborative Growth
Diageo has formed a strategic joint venture with California-based Main Street Advisors to gain majority ownership interest in Lobos 1707 Tequila in exchange for Cîroc Ultra-Premium Vodka’s North American brand rights.
The partnership looks to leverage Diageo’s supply chain scale, route-to-market, marketing capabilities, and consumer insights, combined with Main Street’s experience for incubating and accelerating consumer businesses.
Also read: Diageo launches standalone luxury division
Cîroc Vodka and Lobos 1707 will each maintain their respective identities and leaders as part of the joint venture, including Lobos 1707’s founder and chief creative officer Diego Osorio.
About the Brands
Cîroc Vodka is gluten-free and created with fine French grapes. It is distilled a fifth time at the historic Distillerie de Maison Villevert - Chevanceaux in the South of France.
Lobos 1707 launched in 2020 backed by athlete LeBron James. It ages its agave spirits in American oak barrels and finishes in Pedro Ximénez Sherry wine barrels.
Nick Tran at the Helm
Nick Tran, previously global head of marketing at TikTok, has been named president and chief marketing officer for the joint venture. He brings a track record in transforming brands and developing consumer and digital strategies targeted toward Gen-Z audiences, according to Diageo.
"The way modern consumers engage with spirits continues to evolve. That requires brands to evolve at the same pace,” said Tran in a statement. “Today, social experiences are more intentional, digital spaces drive discovery, and transparency matters more than ever.”
In order to grow brands, he added, the companies must reimagine storytelling, rethink engagement, and create experiences that are bigger than just the liquid.
Diageo struck the deal as part of its growth ambition strategy to drive business expansion in North America and focus on strengthening the company long term.
