WEBVTT - Ten To One Rum Founder Marc-Kwesi Farrell Talks UK Launch

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<v Speaker 1>Many types of alcohol have rebranded, refined, or looked for

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<v Speaker 1>a new cohort of consumers, think tequila, whiskey or cognac,

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<v Speaker 1>but not rum. Now the brand ten to one is

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<v Speaker 1>looking to change that. It is launching here in the UK,

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<v Speaker 1>having won a Hall of accolades in the beverages world

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<v Speaker 1>has Britain Mark's Black History Month this October. Joining me

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<v Speaker 1>now in studio is Bloomberg Reported tia Adebayo, who spotted

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<v Speaker 1>this story, and Mark Cuasey Fowl, who is founder and

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<v Speaker 1>CEO of ten to one Rum. Mark Cuaisey, Welcome to

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<v Speaker 1>Bloomberg Radio. Thank you for your time. Just first ye

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<v Speaker 1>tell us a little bit about the product, how you

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<v Speaker 1>came up with it and how you're selling it.

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<v Speaker 2>Yeah. Absolutely, Well, first of all, thanks so much for

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<v Speaker 2>having me on the program. You know, I'm somebody who's

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<v Speaker 2>very proudly from the Caribbean, born and raised in Trondad,

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<v Speaker 2>and to be able to have spent most of my

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<v Speaker 2>adult life living between the US and the UK, and

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<v Speaker 2>that's been a big part of the inspiration for ten

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<v Speaker 2>to one.

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<v Speaker 3>You know, I looked at the category.

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<v Speaker 2>First as a consumer with a bit of a point

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<v Speaker 2>of curiosity, and a point.

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<v Speaker 3>Of frustration really believing that RUM.

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<v Speaker 2>Had been relegated to a fairly underappreciated place in the

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<v Speaker 2>hearts and minds of medic consumers and actually didn't bear

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<v Speaker 2>that much resemblance on the international circuit to what I

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<v Speaker 2>know and love and appreciate coming from the Caribbean.

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<v Speaker 3>And so really, after a long.

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<v Speaker 2>Career in different elements of the consumer products world, decided

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<v Speaker 2>to venture out on my own and really bring the

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<v Speaker 2>brand tend onto life with this idea to reimagine the

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<v Speaker 2>RUM category, to reinvigorate it and bring a little bit

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<v Speaker 2>more of that Caribbean authenticity and Caribbean magic to market.

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<v Speaker 4>So you've successfully launched this reimagination of RUM in the US.

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<v Speaker 4>Now you're expanding to the UK. What sort of differences

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<v Speaker 4>have you noticed in the process and why now in

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<v Speaker 4>the UK?

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<v Speaker 2>Yeah, I mean, you know, the UK has been on

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<v Speaker 2>my ridar for quite some time, you know, for a

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<v Speaker 2>number of reasons.

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<v Speaker 3>I mean, first and foremost, I mean the UK.

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<v Speaker 2>When you think about some of the top markets globally

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<v Speaker 2>where you want to capture the hearts and minds of consumers,

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<v Speaker 2>the UK ranks right at the top of that list.

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<v Speaker 2>You know, so many incredible accounts, not just in London

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<v Speaker 2>or the greater London area, but throughout the broader United Kingdom,

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<v Speaker 2>and so really I think sort of bringing some of

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<v Speaker 2>that story, having now now seen five years of success

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<v Speaker 2>in the US, bringing that to the UK has been

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<v Speaker 2>I think again forefront for us as a business for

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<v Speaker 2>quite some time. It is also worthwhile noting that there

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<v Speaker 2>is a very strong Caribbean diasporic population that is a

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<v Speaker 2>force there in London and in the UK, and certainly

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<v Speaker 2>being able to share some of this story with them

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<v Speaker 2>is you know, I think brings on a different level

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<v Speaker 2>of meaning and inspiration for us as a brand.

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<v Speaker 3>And last but not least, some of my own personal connections.

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<v Speaker 2>You know, actually I studied at Cambridge many years ago.

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<v Speaker 2>My twin sister lives in the UK with her family

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<v Speaker 2>as well, and so obviously it's nice to bring a

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<v Speaker 2>little bit of the tent to one magic for them

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<v Speaker 2>to enjoy as well.

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<v Speaker 1>I wonder what you're hoping for in terms of sales

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<v Speaker 1>and also whether you're trying to raise funds in the UK.

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<v Speaker 1>A new survey by Opinion Matters that took place last

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<v Speaker 1>year shows that three quarters of UK black business owners

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<v Speaker 1>who asked have found it challenging to raise funds to

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<v Speaker 1>kickstart businesses compared to forty six percent of their non

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<v Speaker 1>black counterparts. Are their challenges to raising money? Were you

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<v Speaker 1>to go down that route in the UK?

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<v Speaker 2>Yeah, you know, I think, I mean listen approaching the

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<v Speaker 2>UK market with a ton of optimism and excitement. To

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<v Speaker 2>be honest, I think there's a very fertile ground there

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<v Speaker 2>for us, certainly in the rum category. As I said,

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<v Speaker 2>to bring a little bit more of that magic that

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<v Speaker 2>maybe the category is the blacking over time, I think

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<v Speaker 2>the point that you're raising around black businesses or black

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<v Speaker 2>calendar businesses is a very valid one. I think one

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<v Speaker 2>of the big challenges that those types of businesses have

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<v Speaker 2>often faced is a little bit of a this perception

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<v Speaker 2>that the stories that they're telling are perhaps for a

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<v Speaker 2>a fairly narrow audience or a fairly narrow set of

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<v Speaker 2>product offerings.

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<v Speaker 3>And I think that's not true.

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<v Speaker 2>In the case of ten to one, for example, I

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<v Speaker 2>often tell people that so much of the story of

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<v Speaker 2>ten to one does not require you to be from

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<v Speaker 2>the Caribbean with a Trinidad you know, Jamaican passport. You know,

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<v Speaker 2>if you're right there in London or in Manchester. Inspired

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<v Speaker 2>by the Caribbean music, the art, the fashion, the food,

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<v Speaker 2>You're going to find so many points of resonance with

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<v Speaker 2>what we're creating. And so I think for us, we've

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<v Speaker 2>always tried to, I think, expand that aperture and make

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<v Speaker 2>sure that the story, the brand, the product feel like

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<v Speaker 2>it's accessible to more folks. And the hope is that

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<v Speaker 2>then when you think about our fund raising and attracting

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<v Speaker 2>investors and things of that nature, you are able to

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<v Speaker 2>maybe sort of climb.

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<v Speaker 3>That hill where others have struggled in the past.

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<v Speaker 4>I mean, you mentioned that you don't necessarily need to

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<v Speaker 4>be from a Caribbean background to appreciate rum, but you

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<v Speaker 4>have noted that the marketing of the drink definitely relies

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<v Speaker 4>on some old tropes around pirates and plantation you're trying

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<v Speaker 4>to change. Can you speak to the importance of having

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<v Speaker 4>black founders and executives when it comes to challenging perceptions

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<v Speaker 4>like these.

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<v Speaker 3>Yeah. Absolutely.

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<v Speaker 2>I had a mentor of mine many years ago who

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<v Speaker 2>very wisely and very simply.

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<v Speaker 3>Said, you know, if you don't tell your.

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<v Speaker 2>Own story yourself, someone else is going to tell it

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<v Speaker 2>for you.

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<v Speaker 3>I think if you look.

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<v Speaker 2>At RAM as a category historically, that's exactly what has happened.

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<v Speaker 2>I think this reliance on a fairly narrow, caricatured sort

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<v Speaker 2>of view of the space, a lot of a lot

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<v Speaker 2>of pirates, a lot of sea monsters, a lot of

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<v Speaker 2>plantations and old fables and anybody who has been anywhere

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<v Speaker 2>around the Caribbean.

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<v Speaker 3>But if you have a friend who's from the Caribbean,

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<v Speaker 3>you know it's.

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<v Speaker 2>An incredibly rich cultural tapestry. There's ra de vive, the spontaneity,

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<v Speaker 2>the high energy, the love of life.

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<v Speaker 3>There's so many other incredible stories to be told, and.

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<v Speaker 2>So at Tanjhan we made a very simple decision, which

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<v Speaker 2>is to tell of those stories instead. And from the

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<v Speaker 2>five years that we've had in market in the US,

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<v Speaker 2>I think there's been a lot of resonance around that.

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<v Speaker 3>It seems to be a story and a point of

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<v Speaker 3>view that has been working quite well. And so now

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<v Speaker 3>I'm excited to bring that to the UK. Up.

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<v Speaker 1>Yeah, absolutely, and that surely chimes in also with Black

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<v Speaker 1>History Month, of course, which is a celebrated marked in

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<v Speaker 1>October in the UK, the theme this year being reclaiming Narratives.

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<v Speaker 1>I wonder what is your view though, as you say,

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<v Speaker 1>when you have a foot in both the US and

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<v Speaker 1>the UK on the role back in the US of

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<v Speaker 1>DEI programs in universities and also in some businesses in

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<v Speaker 1>the US, is that a concern? Is that becoming an

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<v Speaker 1>issue actively for you when you seek funding.

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<v Speaker 2>It hasn't presented as an issue for US just yet

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<v Speaker 2>when it comes to whether it's fundraising or seeking out

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<v Speaker 2>new partners or thinks of that major look. I think

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<v Speaker 2>the reality is that you're going to see a little

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<v Speaker 2>bit of a pendulum string over time with these things, right,

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<v Speaker 2>I mean, over the last four five years, probably from

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<v Speaker 2>the rise of you know, the COVID global pandemic till now,

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<v Speaker 2>I think you saw a pretty big spike in the

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<v Speaker 2>number of D and I initiatives in the US and

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<v Speaker 2>further afield. And now obviously you've seen a.

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<v Speaker 3>Little bit of a pushback or pullback rather for some

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<v Speaker 3>of those initiatives.

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<v Speaker 2>The good news is and you're always going to find

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<v Speaker 2>pockets of folks who understand the value of and to me,

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<v Speaker 2>those things are less about sort of the DEE and

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<v Speaker 2>I per se, but really about an acknowledgement that there

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<v Speaker 2>are different cultural viewpoints different perspectives and all have a

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<v Speaker 2>seat of the table and all have something to offer.

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<v Speaker 2>We found that there are enough of those pockets in

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<v Speaker 2>the US. My hope is that we'll find that there

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<v Speaker 2>are also a number of those pockets in the UK.

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<v Speaker 2>And with that sort of support, was that sort of

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<v Speaker 2>win in your sales because you every chance to be.

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<v Speaker 4>Successful Staying with that theme of di in the States,

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<v Speaker 4>before you founded ten to one, you also had a

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<v Speaker 4>very illustrious career at Starbucks, the youngest VP at the time,

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<v Speaker 4>I believe. And it's a company which has had its

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<v Speaker 4>fair share of issues when it comes to race relations.

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<v Speaker 4>Bloomberg reported that its suffered big losses in negative press

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<v Speaker 4>reports related to a racist incident at a store in Philadelphia.

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<v Speaker 4>As a former employee of star Wars, can you point

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<v Speaker 4>to opportunities for the brand to improve when it comes

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<v Speaker 4>to race relations.

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<v Speaker 2>Yeah, listen, I think you know they're opportunity for everyone

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<v Speaker 2>across the board. And I think a lot of these

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<v Speaker 2>things should start with being a more active and more

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<v Speaker 2>willing listener. I'm happy to sit across the tieble from

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<v Speaker 2>someone else and understand their point.

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<v Speaker 3>If you want to figure out how where you can

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<v Speaker 3>lean into support.

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<v Speaker 2>Listen, I'll see that as a former executive at Starbucks,

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<v Speaker 2>I had nothing but an incredible experience there. I was

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<v Speaker 2>very lucky and privileged to have someone like Howard Schultz,

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<v Speaker 2>who was the founder and CEO of Starbucks, a personal

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<v Speaker 2>mentor of mine, who gave me an incredible opportunity there

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<v Speaker 2>at the company for a number of years, an incredible

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<v Speaker 2>place to grow and learn, and actually I would almost

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<v Speaker 2>describe it as a bit of a finishing school for me,

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<v Speaker 2>as a bit of a precursor to my time at

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<v Speaker 2>ten to one. I do know that the folks that

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<v Speaker 2>were there and shared the executive suite at the time

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<v Speaker 2>had a great deal of passion and compassion for issues

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<v Speaker 2>around sort.

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<v Speaker 3>Of building a place, a sense of belonging, a super

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<v Speaker 3>welcoming nature.

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<v Speaker 2>I don't think every company gets it right all the

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<v Speaker 2>time everywhere, and so I think it's a function of

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<v Speaker 2>whenever those moments happened during what you can to again

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<v Speaker 2>actively the sun, engage communities wherever possible, and.

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<v Speaker 3>You know, I think, do what you can to set

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<v Speaker 3>up right.

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<v Speaker 2>But overall, I would say my experience there was was

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<v Speaker 2>an overwhelming, overwhelmingly positive one.

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<v Speaker 1>Okay, that's an interesting point. I just want to end

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<v Speaker 1>on something light to tell me how you drink your rum.

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<v Speaker 3>It's a good place to end.

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<v Speaker 2>So you know, with ten to one, one of the

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<v Speaker 2>hall marks of our is it's versatility where we're creating

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<v Speaker 2>these exceptional pan Caribbean blends, bringing RUMs together from Trinidad, Barbados, Jamaica,

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<v Speaker 2>the Dominican Republic, even Ghana.

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<v Speaker 3>Be's of the cribbin in a single bottle.

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<v Speaker 2>And with that versatility, we encourage folks to experience to

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<v Speaker 2>run on the tone sibly rocks, the splash of soda,

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<v Speaker 2>water of coconut water, which is how we would enjoy

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<v Speaker 2>it intro of that in the Caribbean. So really clean,

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<v Speaker 2>easy mixers that maintain the integrity of the rum. If

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<v Speaker 2>you're looking for a delightful part deal a rum, Old

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<v Speaker 2>Fashion with our dog is extraordinary and a classic actory

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<v Speaker 2>with our white I think we also we'll also think

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<v Speaker 2>to capture hats and change some minds along the way.

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<v Speaker 1>Okay, Mark crazy Foul, thank you so much for joining

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<v Speaker 1>us and for your recommendations. Mark Crazy Fowl is the

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<v Speaker 1>founder and CEO of ten to one Rum and Tiblinberg

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<v Speaker 1>Reported too Audabaya, Thank you so much for joining me

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<v Speaker 1>on this story, for bringing it to our attention as

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<v Speaker 1>the UK, of course, marks at Black History Month also

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<v Speaker 1>this month. Thank you