(Brooklyn, NY) – The Brooklyn Brewery co-founder, Steve Hindy, joined Bloomberg to chat about the company’s growing efforts when it comes to exports.
It is well-documented that Brooklyn’s top market outside of its backyard is Sweden. When asked why the brewer has been successful there in particular, Hindy is as befuddled as anyone.
“I can’t really tell you.”
Success has come there, in some part, due to a partnership with the world’s #4 brewery, Carlsberg, which also handles Brooklyn beer across other parts of Scandinavia. Furthering that partnership, the two companies announced in January that they plan to open a Swedish brewery along with D. Carnegie & Co.. The company plans to add a full-time salesperson in Sweden within the next year.
Brooklyn is very active in other countries, too. An endeavor that began a decade ago in Japan is now set to be 25% of Brooklyn’s revenue this year, which Hindy says will fall between $50-60 million. While domestic growth is currently at 15-20% annually, exports are up more than 50%.
“I think we’re very comfortable allowing that to increase,” says Hindy. “I think it could become maybe half of our business in the next few years.”
Domestically, Brooklyn is not adding any more markets beyond its current 25-state footprint for now and beyond France, which Brooklyn added six months ago, the company has no set plans to expand in further foreign markets.
“It is possible we will be doing a joint venture in Asia, maybe in the next year. We are looking at a possibly maybe in Korea.”
Piggybacking on the recent Bloomberg piece about possible craft beer acquisitions, Hindy was also asked whether Brooklyn would sell.
“Brooklyn Brewery is not for sale. My partners are young guys, Eric and Robin Ottaway. They are very committed to the future of the company. They are the next generation of The Brooklyn Brewery.”
Hindy can’t say the same for some of his peers.
“I think some of my colleagues in the craft brewing industry may be looking to sell because we are the first generation of this industry and a lot of them do not have the next generation figured out.”
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