‘Deadpool’ Star Ryan Reynolds Sold His Gin Company for $610 Million
Many notable actors seem to be getting into the alcohol business … that is, producing their own to make a good side income if their careers ever wither. A notable like Ryan Reynolds probably has nothing to worry about in his career ever faltering. Nevertheless, it never stopped him from delving into creating his own gin company.
What is it attracting celebrities to creating their own libation brands? It seems gin is now the most popular to take on beyond tequila being ubiquitous.
Sales for all celebrity alcohol products are truly paying off. Reynolds’ new partnership with his own gin company will give him a bigger payday than any movie he makes.
What is the name and purpose of Ryan Reynolds’ gin company?
Known as Aviation Gin, Reynolds teamed up with Davos Brands to create a gin with a unique taste supposedly more appealing than most brands available. This grabbed the attention of Diageo, known for their alcoholic products such as Smirnoff vodka. Those who drink gin will probably know Diageo has other gin products out there, including Tanqueray being one of their most popular.
When they saw the combination of Reynolds’ marketable name, plus how good his gin reportedly tastes, Diageo decided to invest immediately. The amount they paid to partner with Reynolds is also off the charts.
CBS News reports Diageo will pay him an incredible $335 million upfront. An additional $275 million will be paid to him, contingent on sales over the next decade.
If this made a few jaws drop, it just goes to show why so many celebrities are going into this market as an investment opportunity. With something like gin paying out large sums, it likely gives reassurance America will never see another Prohibition era.
Ryan Reynolds used some clever marketing tactics for his gin
Most marketing experts say humor always wins when used in ads to sell a product. Very few people have ever used comedy to help market a gin product.
Reynolds managed to based on a notable commercial he put together for Aviation Gin last year utilizing a poke at an infamous Peloton ad, reports Vulture. In the video, Reynolds hired the actress who played the notorious wife in the original Peloton exercise bike ad, this time seated at a bar with friends and being served a glass of Aviation Gin.
Thanks to Reynolds already having an astute sense of comedy in movies and TV, the ad became popular on social media. Had it not been for the ad, perhaps Diageo would not have acted so quickly on their purchase.
Then again, what goes into making gin is what really matters. More and more premium gin brands are hitting the marketplace nowadays for use in various types of cocktails.
Will more celebrities go into the gin market?
No doubt other celebrities took a good look at the amount of money Reynolds is going to pocket with his Aviation Gin. According to information from The Drinks Business, an astonishing 402 gin brands entered the marketplace over just the last four years.
Few if any other celebrities have gone into producing gin, though, which is somewhat interesting. However, royalty has gotten in on the gin game, with Buckingham Palace releasing their own gin.
Tequila seems to be the favorite of many A-list stars in marketing their own concoctions. A famous one from recently is Dos Hombres mezcal from Bryan Cranston and Aaron Paul, as reported by Business Insider.
Because Reynolds’ Aviation Gin has a spicy and sweet taste, it may be no contest at this point. One thing for sure is it may not be the last time someone famous tries to market gin based on the potential large paydays.
In an age of quarantine, they may have extra time to do gin creation experiments in their libation laboratories.