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Biography: Facundo Bacardí
Facundo L. Bacardí has been chairman of the board of Bacardí Ltd since 2005 and a director since 1993. He is the great-great-grandson of company founder Don Facundo Bacardí Massó, and a fifth-generation family member.
Mr Bacardí is the managing director of Apache Capital LLC, an investment company based in Coral Gables, Florida, which invests in a broad, diversified class of public and private assets. Mr Bacardí serves on the advisory board of Noro-Moseley Partners and the board of trustees of Emory University. He also serves as the executive director of the Facundo and Amalia Bacardí Foundation.
Mr Bacardí holds a JD from Emory University Law School and a BSBA degree in finance from American University.
RAISING spirits
Facundo Bacardí, the great-great grandson of rum legend Don Facundo Bacardí Massó and this year’s IWSC president elect, explains what makes the competition so special
What have been the most exciting innovations to have emerged in spirits in recent years?
There have been many interesting innovations: for example, the use of more exotic botanicals in the production of gin, or the creation of products like Grey Goose VX that creatively fuse different categories into wonderful new expressions. However, focusing solely on rum, the recently renewed passion for premiumisation stands out. Our core priority is to drive premiumisation of the rum category. If we don’t do it, no one is going to do it. In the past year, we started a shift to make sure we re-establish what rum really means. To do so we are embracing our heritage and origins in an external way by being a true rum and not chasing fads. Premiumising aged rum is in the best interest of the entire rum category that Bacardí, as the leader, is responsible for.
How can the trade better communicate with consumers about wine and spirits? Many brands have invested heavily in platforms and programmes that drive education. Some have been more successful than others, but all with the aim of making sure the trade understands what’s in the bottle, and who are the people behind it. On the other hand, brands continue to invest in reaching consumers with messaging that helps
What attracted you to the role of IWSC president?
The high-quality standard that the IWSC both demands and celebrates is close to my heart. My great-great grandfather, Don Facundo Bacardí Massó, and the creators of the other premium brands in our company’s portfolio, had unique passions for crafting superior liquids. My family is committed to honouring my great-great grandfather’s legacy by ensuring his creation will remain the highest-quality rum available for purchase. The IWSC’s activities and focus are similar in many ways.
How valuable has your success in previous IWSC competitions been to the global development of your brands? The IWSC has a thorough methodology for the evaluation and judging of
products. For us, the double-blind panel is a great focus group of experts. We think of them as a way to evaluate if our products are meeting the look, feel, and taste expectations of those outside of our company. The chemical analysis helps validate the authenticity in the intrinsic messaging of the product as well. By winning an award we have an incredibly valuable asset that assures the trade and consumers of the quality of our products. An example of the value to our brands
is our flagship Bacardí rum. We are
proud that we can say that it is “the
most awarded rum in the world”.
However, we don’t submit it to just
any competition because the quantity of those awards is only as good as the quality of the awards. For us, the IWSC sits among the top shows on our short list of must-have competitions.
12 winners’ guide 2017