Keep pulling the thread on George Clooney.
The three co-founders of Casamigos provided the initial capital for the company with a $1.8 million investment, with each partner contributing $600,000.
Casamigos' initial production run of 24,000 cases sold out within the first two days of its launch.
After the founders' initial $1.8 million investment, Casamigos was capital efficient and never required any further funding.
The founders sold Casamigos for $1 billion just four years after its launch.
Casamigos tequila was founded by George Clooney, Randy Gerber, and a third partner to create a product with a taste profile they preferred over existing brands like the 'a little sweet' Clase Azul and the 'a little bitter' Don Julio 1942.
Casamigos tequila was specifically designed to have a taste profile that is less sweet than Clase Azul and less bitter than Don Julio 1942.
The initial go-to-market strategy for Casamigos was not for broad retail, but for personal use and for sale at Discovery Land Company properties and Randy Gerber's bars.
Distributor Southern Wine and Spirits required Casamigos to develop a Blanco tequila, in addition to their preferred Reposado, before agreeing to a distribution deal.
Larry Ruvo of Southern Wine and Spirits advised the Casamigos founders that Blanco tequilas constituted 85% of the tequila market at the time.
A co-founder believes the primary reason for Casamigos' success was the high quality of the tequila itself, which was more important than the celebrity status of its founders.