Why Pernod Is Investing in Bumbu Rum Maker Sovereign Brands

The video discusses the strategic shift to e-commerce by spirits companies, driven by the need to adapt to changing market conditions, such as bar closures due to COVID-19. It highlights the importance of innovation and education in driving sales and explores the impact of market dynamics in China, including government crackdowns on the wealthy. The video also covers the acquisition of niche brands in the US as a strategy to diversify and enhance the company's portfolio.

What role does innovation play in the cocktail industry according to the text?

Why might acquiring niche brands be a strategic move for companies in the spirits industry?