Bargain Sobieski continues its climb

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Sobieski Premium Vodka maker Belvedere SA has been experiencing a few financial blips in recent months, but then who hasn't?

Nevertheless, the most recent industry figures show the year-old vodka has quickly grown to be the seventh largest globally-selling premium vodka, an astounding achievement given the ever-increasing glut of vodka products on the world market.

When the brand was launched last summer, it was with what it termed a "Truth In Vodka" marketing campaign. The idea was to spread the word that excellent vodka didn't have to cost a fortune. Relying on inexpensive plastic bottles, as just one element of controlling costs, Sobieski has kept its prices low -- $10.99 for a 750ml bottle, $19.99 for a 1.75-liter bottle. However, I've found it even cheaper in numerous spirits shops.

Last fall, Sobieski was ranked the No. 1 premium vodka by the Beverage Testing Institute (BTI) in a blind tasting of 108 vodkas, the largest review of vodkas in its history, and earned both a gold medal and Best Buy Award. It was also ranked first in a blind tasting of 25 major international vodka brands conducted by La Revue du Vin de France, one of France's top wine and spirits publications.

[Go here for my tasting notes on Sobieski.]

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Sobieski vodka rescue possible

• Last month, I reported on the financial problems of Belvedere, makers of the bargain-priced, high-quality Sobieski vodka. Here's the latest update, from Bloomberg News:

Belvedere, the French maker of Sobieski vodka, is in advanced talks with private equity funds about a stake sale as it seeks to emerge from creditor protection, its chief executive, Jacques Rouvroy, said.

Potential buyers of 400,000 Belvedere shares, or a 15% stake, include a foreign company in the beverage industry, Mr. Rouvroy, said in an interview. He would not elaborate.

Go here for my tasting notes on Sobieski vodka.

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Polish 'bargain' vodka hits U.S.

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In an industry enthralled with premium-priced vodkas, Sobieski is looking to find a niche at the other end of the scale.

The vodka, named for Poland's King Jan III Sobieski (1629-1696), is made from Dankowski rye at a distillery dating to 1846. It will go on scale nationwide this fall at suggested retail prices of $10.99 for a 750ml bottle and $19.99 for a 1.75 liter bottle.

Speaking of the bottle, the fact that this vodka is packaged in a plastic bottle certainly helps with cost containment.

"It's time vodka drinkers knew the truth about vodka," said Chester Brandes, head of Imperial Brands Inc. which is the sole
importer of Sobieski Vodka.

"Consumers are spending between $30 to $60 a bottle for so-called super-premium vodkas. In essence, they are paying for fancy packaging and bloated marketing costs. It's time to get back to basics with an honest, premium vodka at a price that won't make consumers' heads swim."

Sobieski is entering an extremely crowded market. Last year alone, 60 brands of vodka were introduced, according to Adams Beverage Group which tracks industry activity.

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Time to top off your Sobieski supply

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Belvedere SA, the French maker of bargain-brand Sobieski vodka, has been in financial trouble for the past 12 months. The price of its shares has dropped 70% and this week it received a six-month bankruptcy protection order from a French court.

Despite myriad procedural and financial woes, Olivier Balva, the company's head of investor relations, said in an interview with Bloomberg News that "Our only goal is to have more time to restructure the company.''

"There haven't been any payment defaults and the company has enough cash to run,'' he said. "We did this for reasons of prudence.''

You can get the background on Sobieski vodka here and read my tasting notes on the product here.

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Bruce Willis a diehard Belvedere man

John McClane, actor Bruce Willis's action hero character in the "Diehard" movie trilogy, took a lot of chances. But, he could always forget about them once the director yelled "Cut!"

Willis's newest character also is taking a chance. It's his real-life role as a spokesman for Belvedere, the French wine and spirits maker that is having a financial dip.

He has signed a four-year "strategic agreement" that allows the company to use his image for advertising purposes in exchange for giving him a 3.3% share of its capital as part of a long-term investment, as reported in The Wall Street Journal.

It's a particularly interesting arrangement in that Belvedere, the world's No. 7 vodka producer, is operating under bankruptcy protation while it restructures a $760 million debt.

Belvedere, however, has a better prognosis for improving its financial situation since it introduced the bargain-brand Sobieski to its U.S. pipeline.

In the fall of 2007, Sobieski -- a quality spirit packaged in a plastic bottle that helps cut its cost to the below-$20 range --i was ranked the No. 1 premium vodka by the Beverage Testing Institute (BTI) in a blind tasting of 108 vodkas, the largest review of vodkas in its history, and earned both a gold medal and Best Buy Award.

Go here for one of my reports on Sobieski, and look for a live link to my tasting notes as well.

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