Sallie Jian, Head of North America Ventures for Diageo, says the spirits giant is paying attention to the non-alc category as younger generations moderate and abstain from bev-alc.
During her presentation at BevNET Live Summer 2024 earlier this month, Jian, who has specialized in investing in startups for her entire career, shared how Diageo invests strategically and supports its core portfolio of over 200 brands. The company originally expanded into non-alc with pioneering brand Seedlip through its independent incubator Distill Ventures.
“The non-alc category is over a billion-dollar category,” she said, which means the venture arm sees taste profiles, occasions and expanding outside of traditional spirits and cocktails as drivers.
Jian said corporate VC is less affected than traditional investors during an economic slowdown, and the company has a long-term commitment to deploying capital. “If we see something that’s strategic that we think is a standout brand, we will continue to invest,” she said.
Watch the replay to learn more about how Jian’s department supports brands once they make it into the portfolio and other categories that may welcome additions.