- Diageo (NYSE:DEO) is looking to get vodka brand Smirnoff back on track after losing market share over the last few years. Smaller brands such as Tito's, Ciroc, and Burnett's all added market share at the expense of heavyweights Smirnoff and Pernod Ricard's (OTCPK:PDRDF, OTCPK:PDRDY) Absolut.
- Sales of Smirnoff fell off 4% after a price hike didn't go over with consumers well and new products didn't sizzle.
- "Adding 42 flavors, all of which are almost the same, was a bad decision," noted global brand director Matt Bruhn.