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Speaker 1: Global business news twenty four hours a day at Bloomberg

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Speaker 1: dot Com, the Radio plus Mobile Act and on your radio.

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Speaker 1: This is a Bloomberg Business Flash for on Bloomberg World Headquarters.

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Speaker 1: I'm Charlie Pellet. An update and an up week. Four

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Speaker 1: up weeks in the row for the SMP five hundred index.

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Speaker 1: The SMP heading into the weekend of seventy five a record.

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Speaker 1: They're up nine points today, a gain of five tenths

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Speaker 1: of one percent. Investors showing confidence and corporate earnings will

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Speaker 1: not derail a rally that is heading for a fifth week.

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Speaker 1: The Dow Industrial is up fifty three points to eighteen thousand,

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Speaker 1: five hundred seventy. Again, there are three tens of one

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Speaker 1: percent and has stack up twenty six, a gain of

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Speaker 1: five tenths of one percent. Gold down seventy ounce to

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Speaker 1: thirteen twenty three, a drop there of six tents of

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Speaker 1: one percent. And Oil West Texas Intermediate down one point

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Speaker 1: three percent to forty four eighteen of barrel. I'm Charlie Pellett,

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Speaker 1: and that's a Bloomberg Business Flash. You're listening to Taking

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Speaker 1: Stock with Kathleen Hayes and Pim Fox on Bloomberg Radio alright,

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Speaker 1: get ready to grab your lime and your assault, your tequila,

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Speaker 1: and perhaps even your Amazon Alexa Echo. Speaker. Here to

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Speaker 1: tell us more about this confluence of technology and spirits

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Speaker 1: is David Allen. He is a manager of trade education

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Speaker 1: and Mixology for Patron Spirits, joining us from Austin, Texas. David, welcome,

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Speaker 1: tell us about this combination of Patron and Amazon's Alexa.

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Speaker 1: This is the speech, the speech automated Alexa voice service

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Speaker 1: by It's Echo. I believe that's right. Well, the timing

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Speaker 1: couldn't be more perfect. We have International Tequila Day right

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Speaker 1: around the corner, and so as we celebrate brand new

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Speaker 1: cocktail website that we have launched called Cocktail Lab. It's

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Speaker 1: at Patron Tequila dot com. Amazon has come out with

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Speaker 1: Alexa and we've partnered with them and based with our

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Speaker 1: cocktail Lab. It's sort of as few your preferences, feels

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Speaker 1: you out, sort of sees what kind of drinker you

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Speaker 1: are and makes uh recommendations. It's sort of like a

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Speaker 1: cocktail recommendation engine. And with Alexa you can do that

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Speaker 1: hands free. Use tell her what you're looking for and

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Speaker 1: she can give you the recipes so that you're in

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Speaker 1: the kitchen and don't have your laptop out or want

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Speaker 1: to get your cookbooks dirty. Alexa will do the talking.

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Speaker 1: So you can almost treat this Amazon Alexa as a bartender, right,

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Speaker 1: she's your personal bartender assistant in the kitchen or or

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Speaker 1: in the office wherever you may be mixing cocktails that day. Now,

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Speaker 1: this is not the first time, but an it means

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Speaker 1: that the Patron has used technology in order to highlight

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Speaker 1: its products. Tell us about the art of Patron Virtual

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Speaker 1: reality experience. What is that? Well, as far as we know,

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Speaker 1: we were we were the first Spirits company to work

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Speaker 1: with the Oculus technology and so you know, we we

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Speaker 1: literally flew drones through our facilities in Mexico because the

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Speaker 1: best way to tell the story of the Toron tequila

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Speaker 1: is by showing people, you know, the field that it

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Speaker 1: comes from, the and the and the distillery where we

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Speaker 1: make it. But obviously we can't get everybody down there.

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Speaker 1: But with that virtual reality technology, we're able to capture

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Speaker 1: the experience of being at the Hacienda India gave field,

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Speaker 1: in the distillery, in the bottling line and uh and

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Speaker 1: and really you know, show that to people in a

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Speaker 1: portable thing that literally packs into like a little case

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Speaker 1: that we can take in our suitcases. Now, one thing

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Speaker 1: you may want to take in your suitcase is a

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Speaker 1: super high end premium tequila. Tell us about the investment

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Speaker 1: qualities of high end tequila. Well, you know, we've always

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Speaker 1: been a pioneer in the category, and if you look

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Speaker 1: at look at how this category has grown from the

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Speaker 1: nineties to the present, um, the super premium category is

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Speaker 1: just has just skyrocket and I think we had a

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Speaker 1: lot to do. I think there's a strong correlation between

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Speaker 1: our work and promoting high end tequila and the growth

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Speaker 1: of that category. Well, tell us about some of the

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Speaker 1: ones that are collectible. I understand that the Bardos as

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Speaker 1: well as Grand Piedra. Sure, so the Grand the Grand

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Speaker 1: Patron line are are sort of our our finest and

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Speaker 1: rarest Grand Patron Piedra was the first Extra in Diego

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Speaker 1: that we produced, and it was the first time we

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Speaker 1: did a four year old extra oneo with just tna

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Speaker 1: crushed tequila. The Piedra name refers to the stone of

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Speaker 1: the tejona that crushes the agave. Is a very ancient

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Speaker 1: method that's largely been phased out of the industry, and

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Speaker 1: we're still the biggest producer of Tahna tequila, and Piedro

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Speaker 1: was an opportunity for us to show what that Tejona

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Speaker 1: tequila tastes like, um, when it spends up to four

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Speaker 1: years and would what kind of rice point are we

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Speaker 1: talking about here? You know, I live in Texas. It's

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Speaker 1: about three retail in Texas. I'm not sure what it

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Speaker 1: is in New York there. Bordeos was is an even

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Speaker 1: kind of more innovative process, something that our masters distiller

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Speaker 1: Francisco Alcarez came up with where he took on Jeho

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Speaker 1: Patron read distilled it and then ages ages it ten

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Speaker 1: months in French oak and finishes it for four months

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Speaker 1: in Bordeaux barrels and it's bottled on a really beautiful

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Speaker 1: decanter um And that one can be, you know, in

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Speaker 1: the five dollar range depending on where you are. What

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Speaker 1: happens if you'd like your Patron tequila in some kind

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Speaker 1: of Lalak crystal, what does that end up doing? You

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Speaker 1: have to have to have to dig very deep. Um Uh.

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Speaker 1: There were only five hundred of those made in the

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Speaker 1: first series um and it was gorgeous decanter that that

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Speaker 1: the Lalak Studio modeled after our original patron bottle UM

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Speaker 1: with a very rare tequila and if they made five

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Speaker 1: bottles and depending on where you are and is in

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Speaker 1: the sixty range, um, you know, so maybe not the

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Speaker 1: best to make sure, Margaart read it with no undoubtedly, uh, David.

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Speaker 1: With the popularity of tequila, and just to note that

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Speaker 1: the US is the largest market. It's got about global

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Speaker 1: tequila sales in the United States more than I guess

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Speaker 1: more than fourteen and a half million cases. Um it

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Speaker 1: can you tell us? Uh? That is the agave plant

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Speaker 1: in danger of being overused? I mean, what happens when

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Speaker 1: it just becomes so popular that they're no more a

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Speaker 1: Govey plans to make tequila. Well, that's something obviously that's

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Speaker 1: a great concern to all of us in the industry.

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Speaker 1: Beaker bett is our primary raw material. UM. We work

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Speaker 1: very closely with the farmers that we produced a gobby

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Speaker 1: for us. We write long term contracts. Were always paying

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Speaker 1: above the market rate, and so by paying above the

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Speaker 1: market rate and guaranteeing a sustainable price to the grower

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Speaker 1: depending on what the market, you know, it fluctuates all

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Speaker 1: the time. These growers are always going to give us

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Speaker 1: the best products because they know that they're going to

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Speaker 1: get their money back and that they're gonna make a

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Speaker 1: handsome return on the agave. But sure, there's a lot

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Speaker 1: of research into the sustainability efforts right now just to

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Speaker 1: make sure that that that a Gobbs supply does sticker

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Speaker 1: on for a long time for us. Well, David, I

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Speaker 1: guess here's the most important question. What's the proper way

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Speaker 1: to do with tequila shot? Well, the very personal question, um,

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Speaker 1: you know the way that has become so popularly, you know,

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Speaker 1: uh aware is the training wheel. We call it a

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Speaker 1: fault and lin but but we we are of the

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Speaker 1: belief that that is sort of an old fashioned way

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Speaker 1: to make inferior tequila taste better. And it's just very

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Speaker 1: jolting and jarring when you put the fault and lime

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Speaker 1: in your mouth, and it really appears the flavor of

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Speaker 1: the sequelo, which I think was was its original purpose.

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Speaker 1: So I guess he's a purist, that David Allen, manager

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Speaker 1: of Trade Education and Mixology patron spirits this is Bloomberg

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