Made tempting by 17th century lore and repeals on its ban, absinthe seemed like a sure win for Altamar Brands, a distilled spirits sales and marketing company.
Initially, it was. Sales of Kubler Absinthe Superieure, which was exclusively represented by Altamar Brands, skyrocketed.
In order to meet distribution demands, Altamar rapidly expanded into 30 states, and its owner moved quickly to capitalize on the craze. In the process, he abandoned his methodical growth strategy.
Then, the unthinkable happened.
In late 2008, when U.S. financial markets bottomed out, so did demand for the “green fairy.”
Turns out, people did not particularly favor the taste of black licorice.
To find out how Altamar’s brand bounced back and continues to flourish today, read “Dazzled by a Growth Opportunity? Think Twice” in the Darden School of Business/Washington Post “Case in Point” series.