117 | The Spirits Apocalypse | How Steve Grasse's Brand Mysticism Principles Separate Survivors from Casualties in Market Correction
Mon Feb 02 2026
Happy 2026. This Episode is hosted by Chris Maffeo and brought to you by MAFFEO DRINKS. A Deep-Dive Analysis of This Episode is Available at maffeodrinks.com
Steve Grasse returns to MAFFEO DRINKS for a conversation about the current state of the spirits industry. Grasse, founder of Quaker City Mercantile and Tamworth Distillery, brings perspective from both the brand building and distillery sides of the business.
His previous work includes Hendrick's Gin and his current portfolio spans luxury craft spirits at Tamworth to the non-alcoholic Pathfinder brand. The previous episode with Grasse (Episode 27, recorded roughly two years ago when Brand Mysticism first came out) was one of the best-performing episodes on the podcast.
The discussion examines what Grasse calls the "Spirits Apocalypse," a structural correction facing the industry through overproduction of bourbon and whiskey, shifting consumer habits, and the fading novelty of craft distilling. The conversation moves from macro industry dynamics to brand fundamentals, exploring how core brand strength determines survival when market conditions turn hostile. The talk emphasizes the importance of strong brand fundamentals, challenges of rapid expansion, and the rise of new-to-world Ready-To-Drink innovations, providing actionable advice for both established and emerging brands navigating this tumultuous market.
Timestamps
00:00 Introduction and Welcome Back
00:19 The Spirits Apocalypse: An Overview
01:15 Craft Distilling: Challenges and Changes
03:47 Brand Fundamentals and Market Shifts
05:23 Advice for Craft Distillers
08:54 Innovative Success Stories
11:53 The Importance of Core Brand Values
13:50 Adapting to Market Changes
16:07 Tamworth Distillery Portfolio and Business Model
18:45 The Celebrity Exit Delusion vs Building for Passion
21:30 Experimentation and Pragmatism Over Big Bets
23:15 Brand Ambassadors Must Drive Sales, Not Just Talk
25:40 FMCG Invasion vs Old School Intuition - Industry Polarization
28:20 On-Trade vs Off-Trade Debate is Obsolete
30:10 Board Pressure and Why Solid Brand Core Enables Tactical Freedom
33:25 Physical Fitness Core Analogy - Brand Strength as Insulation
35:54 Conclusion and Final Thoughts
This episode is brought to you by MAFFEO DRINKS, an Advisory helping drinks leaders execute bottom-up growth while managing stakeholder expectations. You can get in touch at bottomup@maffeodrinks.com
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Happy 2026. This Episode is hosted by Chris Maffeo and brought to you by MAFFEO DRINKS. A Deep-Dive Analysis of This Episode is Available at maffeodrinks.com Steve Grasse returns to MAFFEO DRINKS for a conversation about the current state of the spirits industry. Grasse, founder of Quaker City Mercantile and Tamworth Distillery, brings perspective from both the brand building and distillery sides of the business. His previous work includes Hendrick's Gin and his current portfolio spans luxury craft spirits at Tamworth to the non-alcoholic Pathfinder brand. The previous episode with Grasse (Episode 27, recorded roughly two years ago when Brand Mysticism first came out) was one of the best-performing episodes on the podcast. The discussion examines what Grasse calls the "Spirits Apocalypse," a structural correction facing the industry through overproduction of bourbon and whiskey, shifting consumer habits, and the fading novelty of craft distilling. The conversation moves from macro industry dynamics to brand fundamentals, exploring how core brand strength determines survival when market conditions turn hostile. The talk emphasizes the importance of strong brand fundamentals, challenges of rapid expansion, and the rise of new-to-world Ready-To-Drink innovations, providing actionable advice for both established and emerging brands navigating this tumultuous market. Timestamps 00:00 Introduction and Welcome Back 00:19 The Spirits Apocalypse: An Overview 01:15 Craft Distilling: Challenges and Changes 03:47 Brand Fundamentals and Market Shifts 05:23 Advice for Craft Distillers 08:54 Innovative Success Stories 11:53 The Importance of Core Brand Values 13:50 Adapting to Market Changes 16:07 Tamworth Distillery Portfolio and Business Model 18:45 The Celebrity Exit Delusion vs Building for Passion 21:30 Experimentation and Pragmatism Over Big Bets 23:15 Brand Ambassadors Must Drive Sales, Not Just Talk 25:40 FMCG Invasion vs Old School Intuition - Industry Polarization 28:20 On-Trade vs Off-Trade Debate is Obsolete 30:10 Board Pressure and Why Solid Brand Core Enables Tactical Freedom 33:25 Physical Fitness Core Analogy - Brand Strength as Insulation 35:54 Conclusion and Final Thoughts This episode is brought to you by MAFFEO DRINKS, an Advisory helping drinks leaders execute bottom-up growth while managing stakeholder expectations. You can get in touch at bottomup@maffeodrinks.com