How will 2025 treat Bacardi? – CEO Mahesh Madhavan speaks exclusively to Global Drinks Intel

Concluding Global Drinks Intel‘s 2024 review/2025 preview series of senior executive interviews is Bacardi’s group CEO, Mahesh Madhavan.

What was your overriding takeaway from 2024?

My biggest takeaway from last year was the enduring power of resilience within a family-owned company like Bacardi. When faced with challenges, we draw inspiration from the generations before us who overcame adversity to build the foundations we stand on today. There’s something deeply personal about working together now to shape the company for future generations.

On 4 February, we celebrate 163 years of Bacardi – a moment to reflect on our humble beginnings in a tin-roofed distillery in Cuba. While Bacardi is now a global leader, we never forget our origins and the hardships the family endured, from natural disasters and Prohibition to the illegal confiscation of assets without compensation and forced exile in 1960 after the Cuban Revolution. Yet, none of these obstacles stopped them. They rebuilt, adapted and supported each other, ultimately shaping Bacardi into the global force it is today. That resilience continues to inspire us as we navigate the future.

Which industry development surprised you the most last year?

While consumer spending habits have become more mindful, certain destinations – such as Ibiza, Mykonos and the Hamptons – continue to thrive as indulgent, experience-driven hotspots. These environments are perfect for introducing ultra-premium innovations like Grey Goose Altius (launched in April last year), which caters to those seeking something truly elevated. Likewise, the popularity of fun, high-energy brands remains strong, evident in the fact that the number one Bacardi rum bar in the world is in Ibiza.

Another standout development was Mexico City’s emergence as a global cocktail capital. The city has long been known for its rich culinary scene, but its rise in mixology is particularly exciting. The increasing appreciation for agave-based spirits, such as Patrón tequila and Ilegal mezcal – has put Mexico City on the map as a cocktail destination. Seeing Handshake Speakeasy take the top spot in the ‘World’s 50 Best Bars’ was a proud moment, reinforcing the city’s growing influence in the industry.

Which consumer group will be your main focus this year?

Rather than focusing on traditional demographic segments, we prioritise psychographics – understanding what motivates people beyond age or location. It’s about shared values, passions and behaviours.

Bacardi rum drinkers, for instance, are driven by a sense of freedom and spontaneity. They’re social, energetic and seek out experiences that allow them to express themselves. That’s why our ‘Do What Moves You’ (marketing) platform has been so successful. A Bacardi drinker isn’t sitting quietly at a bar; they’re moving across the room, dancing and connecting with others.

This psychographic approach has been instrumental in shaping our strategies, allowing us to engage consumers on a deeper, more authentic level.

Which of the brands in your portfolio do you expect to grow the fastest in your portfolio in 2025?

With so many exciting brands, it’s tough to choose, but a few clear standouts include:

• St-Germain Elderflower Liqueur – This brand has seen explosive growth, fuelled by the rising popularity of spritz cocktails. According to our Bacardi Cocktail Trends Report, the spritz has jumped to number three globally for 2025 – a remarkable leap from number 11 last year. In Europe, it’s becoming the go-to drink for social gatherings, even surpassing champagne. This shift signals a strong growth trajectory for St-Germain.
• Ilegal mezcal – The demand for mezcal continues to rise, especially as bartenders experiment with it in classic cocktails. The limited-edition Ilegal Reposado Caribbean Cask Finish, aged in Caribbean rum barrels, is an exciting innovation that highlights mezcal’s versatility. With both US and international interest growing, Ilegal has significant runway for expansion.
• Bacardi & Coca-Cola RTD (Ready-to-Drink) – In 2025, we’re launching a pre-mixed Bacardi rum and Coca-Cola in select European markets and Mexico. This collaboration brings together two iconic brands, offering consumers one of the world’s most popular cocktails in a convenient, high-quality format. This launch will enhance both accessibility and reach, reinforcing Bacardi’s leadership in the ready-to-drink category.

What’s your biggest business worry for the year ahead?

As a global company, we closely monitor shifts in trade policies, particularly tariff changes, which can impact international operations. While uncertainties remain, we pride ourselves on agility – our teams are prepared to navigate challenges and adapt quickly.

Bacardi has thrived for 163 years by embracing change, and we will continue to do so.