Beer Before Liquor

It's been a while since we've anything to say about the travesties of the modern market for booze, as reflected in the ownership of Guinness by multinational drinks conglomerate Diageo. But our eyebrows were raised upon seeing (WSJ -- subs. req'd) the company's assessment of how its drinks relate to each other strategically:

Looking ahead, Mr. Rose [Diageo finance director] said future growth will be driven by "product innovation" and "premiumization," or customers "trading up" to more expensive brands.

Mr. Rose said Diageo "sees great opportunities at the super-premium end, "with products like Ciroc vodka encouraging consumers to move up Diageo's product portfolio."

Incidentally, that Ciroc may or may not be a vodka, since it's made from grapes and not the more customary grains or spuds. But anyway, if Ciroc is at the top of Diageo's "product portfolio," what, one wonders, is at the bottom? In this world of cognacs accidentally named after towns in Meath and coffee liqueurs, can the humble pint get any respect?