OF PLEASURE AND GOOD CHEER
“THIS INDUSTRY FACES A SIGNIFICANT LACK OF DIVERSITY AT EVERY LEVEL—FROM PRODUCERS/DISTILLERS TO DISTRIBUTION AND RETAIL. ”
distribution and retail. Our goal is to introduce HBCU students to opportu- nities in this traditionally overlooked field, expanding their career horizons, said Williams. “While African American culture greatly influences the success of many brands, ownership within the commu- nity remains scarce. Many companies rely on Black celebrities and athletes to promote their products, yet these influencers often lack meaningful ownership or decision-making power.” Lockett said, “we aim to change that dynamic by empowering future leaders and fostering true representation and ownership within the spirits industry.” To ensure the brand resonates with a diverse audience, the group empha- size inclusivity in its messaging and representation, while maintaining authenticity. “We’ll continuously gather feedback to adapt our approach to different markets and demograph- ics, ensuring that GO3 Vodka becomes a symbol of unity, celebration, and cul- tural significance for all,” said Lockett. Jubilee Spirits has plans to expand their product offerings with a focus on blended whiskey and flavored vodka. “Blended whiskey allows us to explore traditions of craftsmanship while creat- ing a product that resonates with diverse
cultural influences, honoring both our history and our mission to connect communities. Flavored vodka presents an opportunity to innovate, bringing unique, bold flavors to the market that speak to our commitment to creativity and inclusiveness. Both ventures will be more than just products; they will continue to reflect our dedication to uplifting and empowering others, while celebrating the rich legacy of those who came before us,” said Williams. “Currently, we are in the early stages of raising capital outside our immediate group, with a target of approximately $3 million. This funding will support our market expansion as we look to establish a strong presence leading into our sixth year, after which we anticipate needing additional capi- tal for further growth,” said Lockett. “We are particularly eager to engage African American investors to ensure that we remain a 100% Black-owned brand. Our long-term vision for GO3 Vodka includes a majority acquisition by a large beverage alcohol company, while we maintain our commitment to allocating 8.65% of profits to support HBCUs,” said Williams. “Large spirit brands and beverage suppliers, such as Constellation, Diageo, and Beam, have the capacity
to produce and distribute our product at significantly lower costs. They can integrate emerging brands like ours into their extensive supply chains and global distribution networks. These companies are actively seeking to purchase unique brands with proven traction and are willing to pay based on case sales and revenue multiples,” Lockett concluded. ♦
54 THE JOURNAL ♦ WINTER 2023-2024
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