Bacardi - Fast selling and famous across the Globe
"Bacardi has been one of the most famous export product of Cuba to the world. It has almost attained the cultural quotient that signifies the spirit of Cuba. The origins of the company can be traced back to the year 1862, when Don Facendi Bacardi Masso bought a small distillery in Santiago, Cuba. His knowledge of science helped him to transform the dark rum of Cuba into the white one. This has become the unique representation of the brand. The company opened its first offshore office in New York City, but later relocated completely out of Cuba during 1960. In exile, the company registered tremendous growth and became the number one company in the world in terms ODF spirits in the year 1986.
The Bacardi brand has a lot of depth with a lot of the products distributed over a wide range, which include the brands like Bacardi Breezer, Bacardi Coco, the iconic brands like Rossi Vermouth and the Bombay Sapphire gin. The average growth rate that is experienced by Bacardi is around 2 percent for a year, this has been the trend that has been followed for the past few years. It is the fourth largest company in the world in terms of the market revenue and the sales production. The companies that are the market leaders include Diageo, Allied Domecq and Pernord Richard. The company has around five thousand employees who are spread all over the world and has around hundred employees at its headquarters in Hamilton, Bermuda. The estimated current sales of the company stand at five billion dollars. There has been a growth of about seventeen percent over the last fiscal.
The general strategy of Bacardi has changed over the years. In the beginning, Bacardi only concentrated on the marketing of Rum, but over a period of time the strategy has been to diversify. This has lead the company to make newer introductions in terms of the product line, with the introduction of a large number of newer products. The organizational structure has also undergone a lot of changes over the period of time.
Earlier, the organization was divided loosely into five independent divisions that worked independently and marketed the products. Over a period of time, the strategy of the company has changed and it has become more global in its approach. It faces a stiff competition from emerging players in the newer markets. Therefore, given the circumstances; it can be said that Bacardi shall enthrall the ?spirit? of the people for a long time to come. "