News Get In! Get Rich! Get Out! (Conor sells off Proper 12! Doubles Net Worth!) - Updated

[Fraz]

Yet to see any evidence of it doing well.
Has anyone seen it for sale?
Granted I don’t drink but I have been to hundreds of super markets, bars and restaurants since the launch of Proper 12 and never once seen it for sale anywhere.
I’ve seen JD, Jameson, Famous Grouse etc etc as they are truly global brands that are popular all over the world, but Proper 12, no. Nothing.

It's projected to be the first trillion dollar company, some African nations are even replacing drinking water with Proper 12 and more countries will follow suit.

The magnanimous McGregor doesn't need the money. He actually gave away all his shares to the less fortunate

 

[FireKidWS]

Doesn’t make sense to me though. Why would they buy him out like that? Their association with him was the only thing that brought value to the whiskey. Everything I’ve read said it’s just bottom shelf whiskey sold at a premium price

Lots of good posts in here, this might be top.

Why kick out free publicity?

Plot twist, he didn't sell Proper 12, it looks like he didn't even have any say in the matter.

https://whiskycast.com/conor-mcgregors-future-with-proper-no-twelve-irish-whiskey-in-question/

Yeah, it makes it sound like the other owners exercised their right to buy all the shares at a certain (and lower I'm assuming) price.

Problem is, like I said above, they just lost their central marketing tool.

I bought the whiskey once mostly because I read about it a lot on here, and even with terrible reviews, it was worth it to try it for myself.


Now, it's just overpriced low quality whisky.

 

[FIGHTING TALK]

They were really going for it, wherever you are. In my area it's been $23 since it was released.

Do they make different size bottles? I saw an add online and it was something like €29 so am assuming that was a full size bottle, 75cl?

 

[Rear Naked Toke]

Do they make different size bottles? I saw an add online and it was something like €29 so am assuming that was a full size bottle, 75cl?

I'm pretty sure they only sell the one size.

 

[FIGHTING TALK]

I'm pretty sure they only sell the one size.

A mark of a lower level whiskey maker if ever there was one.

 

[Rear Naked Toke]

A mark of a lower level whiskey maker if ever there was one.

Indeed.

 

[Megalodon]

I wonder if his image was hurting the company in any way or if he is just moving on.

I'd imagine he's just striking while the iron is hot. Here in Ireland anyway while it was popular with young lads when it was initially released they wouldn't be the sort who usually drink whiskey, I don't think it has maintained that initial buzz about it, smart move for him to sell now.

 

[nevernamed]

Likely he's experienced the height of his popularity as well as the whiskey brand. Probably a safe play to get out now.

this.. i just dont see that brand doing well. or being a huge seller. i know nobody that has tried it.. it will fade off into bolivion

 

[FIGHTING TALK]

Indeed.

Tbf it is sold in 75cl and 70cl but that is likely just for the specific markets respectively and not to offer any kind of real choice in size.

I wonder why they wouldn’t make either a flask sized one or a magnum

 

[DivineMind]

Anyone that thinks Conor has cashed out big with this brand knows nothing about business whatsoever.
Clearly it is a failed venture from start to finish and Mcgregor has had no choice but to cut his losses.

Eh ? If the valuation of the business increased over time his stake surely will have gotten more valuable and hence a profit would be realized ?

I haven't seen the earlier data point of how much he bought in for, however. We're just now seeing the 200 m valuation for 2020.

 

[Rear Naked Toke]

Tbf it is sold in 75cl and 70cl but that is likely just for the specific markets respectively and not to offer any kind of real choice in size.

I wonder why they wouldn’t make either a flask sized one or a magnum

Probably a lot to do with what you said about low quality product. Also, I don't think they are necessarily marketing to whiskey drinkers, so they don't feel the need for size options.

Conor or no Conor, they are marketing to fight fans that are going to grab a bottle or two for a fight night party.

 

[FIGHTING TALK]

Eh ? If the valuation of the business increased over time his stake surely will have gotten more valuable and hence a profit would be realized ?

I haven't seen the earlier data point of how much he bought in for, however. We're just now seeing the 200 m valuation for 2020.

Exactly.
No one knows what Conor has invested in the beginning, over time reinvested, and how much he is cashing out for.
Seems so obvious it was a marketing hype machine which has failed to blossom, but that’s just coming from an eyes open common sense point of view more than a background in big drink marketing.

 

[FIGHTING TALK]

Probably a lot to do with what you said about low quality product. Also, I don't think they are necessarily marketing to whiskey drinkers, so they don't feel the need for size options.

Conor or no Conor, they are marketing to fight fans that are going to grab a bottle or two for a fight night party.

Seems like a ridiculously limited market given the immense choice in the sector. Was doomed from the start.
Only someone as green as Mcgregor would possibly have put so much energy and effort into this without proper thinking it through.

 

[DivineMind]

Exactly.
No one knows what Conor has invested in the beginning, over time reinvested, and how much he is cashing out for.
Seems so obvious it was a marketing hype machine which has failed to blossom, but that’s just coming from an eyes open common sense point of view more than a background in big drink marketing.

The wrinkle in this is that he didn't actually sell, the business backer exercised an option to buy McGregors stake. Could be that they ascertained his star power is diminishing and now's the time for him to get out. I am not a finance expert, so I don't really know what would motivate them to make the purchase.

I'm sure some analyst will let us know why in the financial press in the days to come.

 

[Zaar]

That makes me feel awful, for you.

Haha, don't, please. I'm better off than at least 50% of my country

 

[FIGHTING TALK]

The wrinkle in this is that he didn't actually sell, the business backer exercised an option to buy McGregors stake. Could be that they ascertained his star power is diminishing and now's the time for him to get out. I am not a finance expert, so I don't really know what would motivate them to make the purchase.

I'm sure some analyst will let us know why in the financial press in the days to come.

Could be they have plans to rebrand, especially if sales are unthinkably low, which wouldn’t surprise anyone.. the physical assets of the company and ability to produce whiskey is its clear value right now.

 

[Ace70 V2]

But for how long?

Odds are he owns/partner in multiple businesses that he's not the face of. And even tho his mma career is not where he wants it to be, he's still marketable.

 

[Rear Naked Toke]

Seems like a ridiculously limited market given the immense choice in the sector. Was doomed from the start.
Only someone as green as Mcgregor would possibly have put so much energy and effort into this without proper thinking it through.

I think he knew going into it that it was for short-term gains. It was launched solely on the success of his career, and his fans were the target demographic. it was never about getting behind a great product with any kind of longevity. How well they do without him remains to be seen, but their peak has hit; I see their sales dropping drastically over the next couple years.

 

[DivineMind]

Could be they have plans to rebrand, especially if sales are unthinkably low, which wouldn’t surprise anyone.. the physical assets of the company and ability to produce whiskey is its clear value right now.

Hehe we'll find out soon enough, especially if Conor ends his relationship with the brand completely.

I agree though, $200 m valuation doesn't seem like the ideal maturity value for this sort of thing, so it's probably something to do with rebranding.

Whether Conor's pocketbook was hurt is another matter. I would think that based on the fact that they have the right to buy him out at any time, he didn't put up much money. He probably put in some nominal amount, they gave him majority equity, he built the brand solely on his own name but they provide the manufacturing, they have a call option to buy out his stake. Basically, unlimited upside for Conor, but bad terms. This is just a guess though.

 

[Super Grover]

The amount of people making wild assumptions based on absolutely nothing is pretty hillarious.