This year LeBron James made NBA history by leading his third franchise to a title. Now, he’s making spirits.
On Wednesday, The Wall Street Journal announced James’s decision to back Lobos 1707. A new premium spirit, the brand will offer tequila and mezcal, with bottles ranging in price from $45 to $150. While Bronny isn’t the first celeb to dive into the tequila business, what makes these bottles special is they’re aged in former Pedro Ximénez (PX) sherry barrels.
Lobos 1707 was founded by the actor and entrepreneur Diego Osorio, and it was his decision to use PX barrels.
James is known for loving bold, thousand dollar red wines, but his move into spirits is a smart one. According to the Distilled Spirits Council, from 2002 to 2019, gross revenues of high-end tequila suppliers in the U.S. increased by more than 570 percent. More specifically, revenues for super-premium tequilas have grown by 963 percent.
Building on rich traditions — and even richer investors — it’ll be interesting to see how James’s Lobos 1707 compares to other NBA backed tequilas. Will it hold up to Michael Jordan’s Cincoro, or will LeBron eventually have to chalk this one up as a loss?