A true story: a friend was in line at BevMo last week, and was behind someone buying massive amounts of booze. It wasn’t for a party - he had just been laid off, and was stocking up for the holidays. It’s a brutal story, but perhaps also a sign that beer and spirit makers like Diageo, the brand behind Guinness, Smirnoff, and Johnnie Walker, might be one of the few companies to be recession-proof.
Still, it’s a little shocking to read in the TIMES ONLINE (UK) that in a time when sports advertising and endorsement deals worldwide are being impacted, Diageo is planning on going ahead full scale with their deals in 2009. Chief among these deals is one that places the Johnnie Walker logo square on the visor of Formula One champion Lewis Hamilton. The cost? Roughly $22 million a year.