How Diageo’s Joint Venture will transform Ciroc & Lobos 1707 - Nick Tran
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Show Notes
Nick Tran, is the CMO and President of First Round, leading Diageo’s new joint venture with Main Street Advisors to oversee two of the world’s most culturally driven spirits brands: Ciroc and Lobos 1707. Nick shares how he’s approaching brand reinvention vs continuation, why product innovation and cultural relevance are key, and what goes into long-term brand growth. We also touch on the future of social media, AI’s role in marketing, and what it takes to build a truly modern CMO career.
00:00 - Intro
00:36 - How the Diageo and Main Street Advisors partnership happened?
02:49 - The long term view for Ciroc and Lobos 1707
06:10 - The plan for Ciroc
08:57 - Reinvention vs continuation when transforming a brand
11:31 - Focusing on product innovation and serve for Ciroc and Lobos 1707
14:14 - Is alcohol drinking trending down?
19:00 - How do you become culturally relevant?
22:07 - Using the Liquid Death challenger mindset
24:08 - The role of celebrities and influencers for drinks brands
27:16 - Why Nick is investing in his personal brand
31:53 - What does it take to become a successful CMO?
37:04 - How Nick invests in other companies
41:59 - Nick Tran’s thoughts on AI
45:47 - Have we reached peak social media?
50:39 - Bonus Question