Growth, Brands and More

Growth at any cost is still a mantra. But toxic growth creates more problems than it solves. In part two of the chat with François Bazini, the host continues a conversation about “toxic growth” and why CMOs fail, arguing that marketers often chase glamorous, short-term levers, flavour “innovations,” promotions, ill-conceived category moves, or new consumer targets that look good on paper but poison brands, instead of doing the harder work of growing the core. François illustrates toxic growth through Ribena’s decline from a top UK brand in 2015 to outside the top 100 by 2022 after shifting away from families, launching non-credible flavoured water and sparkling RTDs, and becoming promotion-dependent. They discuss how companies mismanage brands, avoid postmortems, and misread success, citing Celsius’ growth as driven largely by a competitor’s delisting and a COVID-era shift to no-sugar. He also predicts that successful CMOs must both strengthen core brand growth and build disruptive new brands.00:00 The types of Growth00:43 Fake Innovation and Incentives02:26 Defining Toxic Growth06:33 Ribena Case Study Breakdown26:46 Future of the CMO This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.filibertoamati.com/subscribe

Nicotine Products are not a smoking cessation category anymore.The Blurring Boundaries of Nicotine. And that changes everything.Nicotine pouches show this shift clearly.They look less like medicine and more like mints.Consumers prefer formats that don’t make them feel like patients.In this episode, Filiberto interviews Joel Rubenstein, an LBS alumnus and consumer health veteran, about his career in consumer health and the evolution of nicotine products. Rubenstein explains why tobacco companies are moving into cessation/harm reduction: nicotine is both the addictive problem and the cessation ingredient, it is hazardous to manufacture, and cigarette sales are declining. He contrasts highly regulated pharmaceutical players with rapidly innovating non-pharma products (vapes, gums, strips, and especially nicotine pouches), predicting recreational products will outcompete pharma’s. He stresses policymakers often wrongly equate tobacco with nicotine, notes inconsistent regulation (e.g., marijuana legalisation vs pouch bans), and warns unethical marketing, teen targeting, and ultra-strong pouches could trigger backlash, arguing for stronger retailer/supply-chain accountability and self-policing. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.filibertoamati.com/subscribe

Why do companies in FMCG choose low probability growth?In the big data era, why are most of the FMCG launches supply-driven instead of demand-driven?Today’s guest is Todd Kirk, Principal and Managing Director at Middle Game Services. Kirk explains his background across client-side (e.g., Coca-Cola), retail data (IRI), and consulting, and says Middle Game focuses on performance marketing at the shelf—assortment, merchandising, pricing, and their overlaps, such as promotion—using a shopper-centric, “wide-angle view” of choices. He contrasts shifting existing tactics with “better things” like line-filling, imitation, and true innovation, and describes applying choice-based analytics to tracking data (e.g., Nielsen/IRI and e-commerce). Discussing a key growth problem, he argues that companies overload on low-probability innovations, starving the core “base” (a Jenga analogy), creating value-chain inefficiencies, and often generating transfer demand rather than incremental value, urging portfolio and retailer impacts to be modelled before launch.00:00 Show Intro01:01 Meet Todd and Middle Game04:11 Shelf Choices and the Four Ps11:26 Do Better Things Wide Angle Growth20:15 Growth Problems and Closing This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.filibertoamati.com/subscribe

The Beverage industry is undergoing a global, structural reset. And here I will explain why.Podcast host Filiberto discusses a structural “reset” in beverages, especially beer and spirits, as the aggressive pricing playbook used to offset inflation has hit consumer limits and investors now prioritise volume growth. He traces how industry messaging shifted from post-pandemic cyclical softness to normalisation and transition, citing inventory overhang and weaker consumption, including pressures even in stronger categories like tequila. Spirits players such as Diageo and Pernod Ricard are adapting portfolio and operating models, while beer leaders like AB InBev and Heineken emphasise operating leverage, productivity, digital B2B platforms, and cost resets, alongside investment in no/low alcohol and beyond-beer offerings that still don’t fully offset traditional volume declines. He highlights category boundary blurring, diversification by bottlers and brewers, affordability ceilings, geopolitical supply-chain risk, and GLP-1 impacts, and outlines 2026 mandates: prioritise volume, shed complexity, localise smarter, stay consumer-close, and build better distribution systems.00:00 Podcast Welcome01:02 Beverage Reset Begins04:26 From Cyclical to Structural16:31 Total Beverage Playbook21:13 2026 Mandate and Wrap This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.filibertoamati.com/subscribe

What do authenticity and purpose mean for Gen Z?Why so many paradoxes and contradictions in the relationship between brands and Gen Z?In this episode, host Filiberto chats with Inga Dangel about the evolving landscape of branding and marketing, especially for Generation Z. Inga, with a rich career spanning roles at DHL, Mattel, and Pepsi, shares insights from her work with young consumers through her initiative, Young Blossom 25. They explore the generational shift towards authenticity and purpose, contradictions within Gen Z, and how brands can adapt to these changes. Inga highlights the importance of creating experiential connections and maintaining a strong reputation. The conversation also touches on successful adaptive branding strategies by companies like PepsiCo, Sephora, and Red Bull.00:00 Introduction to Global Brands and Board01:01 Meet Inga Dengel: A Branding Expert02:37 The Changing Landscape of Branding04:08 Understanding Generation Z07:19 The Importance of Purpose and Authenticity10:07 Reaching the Right Audience19:26 The Role of Experience in Branding23:57 Strategic Partnerships and Cultural Platforms26:23 Conclusion and Next Steps This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.filibertoamati.com/subscribe

Why do so many business transformations fail to achieve any results?In this episode, host Filiberto discusses various aspects of business transformation with repeat guest Leon. The conversation focuses on the multi-stage process of business transformation, which includes becoming lean, adapting the organisation for future needs, and investing in innovative projects. They emphasise the importance of balancing operational efficiency with innovation to remain competitive. The discussion also addresses psychological barriers to change, the role of corporate venturing, and the significance of sustainability in transformation efforts. The episode concludes with a reminder to put acquired knowledge into action and a call to the audience to participate and share their insights.00:01 Introduction01:14 Exploring Business Transformation02:21 The Stages of Business Transformation06:18 Agile and Frugality in Business09:38 Barriers to Real Transformation14:37 Overcoming Transformation Challenges22:22 Balancing Innovation and Efficiency27:09 Corporate Venturing and Long-Term Innovation36:19 The Second Chapter of Transformation37:50 Conclusion This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.filibertoamati.com/subscribe

Why can only a few companies balance the need for a global brand with local relevance?In this episode, our esteemed guest is Kostantinos Delilalis, a seasoned general manager with extensive experience with international companies such as Coca-Cola, Danone, and Kraft Heinz. We discuss the differences between global and local brands, emphasising the importance of balancing global scale and local relevance. He shares insights from his career, including the need for continuous improvement, strategic alignment, and the impact of consumer trends like cost-of-living crises and post-COVID behavioural changes. The conversation covers key lessons from navigating complex markets and the evolving consumer needs across various geographies.00:00 Introduction01:06 Meet Konstantinos: A Journey in FMCG04:47 Global vs Local Brands: Key Lessons18:59 Consumer Evolution and Market Trends23:55 The Impact of GLP-1 and Future Innovations28:28 Conclusion This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.filibertoamati.com/subscribe

Bluerrification in electronics is nothing new, but wearables are now developing as both functional products with services and luxury accessories.In this episode, Elisabetta Borghi is back as co-host with Filiberto. They discuss innovations with guest Alex Cerret, an entrepreneur developing luxury wearable safety jewellery. Alex introduces Cerret, a startup that creates safety-focused bracelets and necklaces, combining pleasing jewellery aesthetics with practical safety features. The discussion covers Cerret’s inception, product developments, market strategies, and partnerships. Alexandre emphasises Cerret's mission to provide discreet, beautiful safety solutions that empower users, catering to both young adults and the elderly. He explains the company’s focus on user feedback, continuous improvement, and future goals, including expansions into various markets and collaborations with security firms and NGOs.00:00 Introduction01:06 Meet the Hosts and Guest01:53 Alex’s Entrepreneurial Journey02:32 The Concept of Safety Wearables07:06 Target Markets and Product Development09:02 Challenges and Innovations in Safety Jewellery22:45 Market Strategy and Future Vision32:56 Customer Experience and Data Privacy41:04 Closing Thoughts This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.filibertoamati.com/subscribe

In this episode, host Filiberto interviews his long-time friend and mentor, Leon Ramselaar, who has extensive experience in marketing, strategy, and consumer insights within the consumer electronics industry. The discussion delves into the evolution of marketing, consumer trends, and brand strategy, emphasising the importance of insights-driven innovation. Ramsell shares personal anecdotes from his 25-year tenure at Philips, followed by a transition into consulting and investing in startups. He offers critical perspectives on industry challenges such as the rush to release new product versions, the complexities of smart home integration, and the pitfalls of technology-driven initiatives that fail to meet consumer needs. The episode ends with a discussion on the future of consumer electronics, potential technological developments, and the importance of responsibly managed content in the digital age.00:00 Introduction 01:01 Interview with Leon Ramselaar: Career Journey and Insights 05:18 Challenges and Trends in Consumer Electronics 22:14 Consumer Experience and Brand Impact 23:33 Smart Home Trends and Target Groups 32:03 Technological Pushes and Market Failures This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.filibertoamati.com/subscribe

Cross Over Episode! How are market dynamics changing in the Beverage Industry?Why is beverage striping a fundamental insight, and why should all beverage companies master it?Second part of my chat with Chris Maffeo on the Maffeo Drinks Podcast. We discuss the significant shifts in consumer behaviour and market dynamics, including the importance of understanding when and how to adopt new brands, the industry's return to pre-COVID trends, and the impact of on-premise consumption closures. The conversation covers the rise and fall of different beverage categories, the strategic movements of brands and distributors, and how consumer preferences and cultural trends influence brand success. We also highlight the concept of 'blurring occasions' where consumers switch between alcoholic and non-alcoholic beverages based on the context rather than traditional categories. The podcast emphasises the need for brands to create cultural significance and adapt to changing consumer behaviours to thrive in the current market.00:00 Introduction 00:16 Industry Trends and Challenges 00:50 Distribution Strategies and Market Dynamics 01:48 Consumer Behaviour and Brand Success 02:16 Post-COVID Market Adjustments 04:51 On-Premise vs Off-Premise Dynamics 16:09 Blurring of Categories in the Spirits Industry 25:17 Emerging Trends and M&A Activity 31:47 Cultural Insights and Rituals 39:51 Conclusion This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.filibertoamati.com/subscribe

Cross Over Episode! Shrinking for Growth is happening across a number of FMCG verticals. And Beverages and Spirits are not immune. Here we explain what it means.First part of my chat with Chris Maffeo on the Maffeo Drinks Podcast. The focus is on trends and strategies in the spirits and beverages industry, particularly the 'Shrink for Growth' strategy, where companies divest non-core brands to focus on core strengths. Key examples include Campari, Diageo, and Brown-Forman. The conversation covers shifts from economies of scale to economies of scope, the impact of mergers and acquisitions, and the differences in strategy between listed companies and privately owned companies. The episode highlights the changing landscape of the industry and predicts significant transformations over the next 10-15 years.00:00 Introduction 00:57 Overview of the Spirits Industry 01:40 Shrink for Growth Strategy 02:12 Impact of Mergers and Acquisitions 02:25 Distribution and Market Dynamics 02:52 Challenges in the Spirits Industry 09:31 Listed vs. Privately Owned Companies 10:05 Industry Consolidation 12:08 Distribution Challenges 17:44 Long-term Viability of the Spirits Industry 28:17 Final Thoughts and Recap This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.filibertoamati.com/subscribe

In this episode, host Filiberto interviews Maciej Grajewski, founder of SG Papertornics, a liquid diagnostic company for craft beverages. Grajewski discusses her journey from academia to entrepreneurship, the development of the core product, Beer-o-meter, and how it helps brewers ensure consistency and stability in their beer. He explains the technology behind Barometer, its ease of use, and the importance of process control in brewing. The conversation touches on the challenges and insights gained from working with brewers, the importance of building trust, and the potential for expanding diagnostics to other beverage types. The episode concludes with reflections on the entrepreneurial journey and future goals.00:00 Introduction 01:04 The Liquid Side of the Beverage Business 01:21 Meet the Guest: Maciej Grajewski02:44 Revolutionising Brewery Process Control 09:21 Challenges and Learnings in the Brewing Industry 29:04 Expanding Horizons: From Beer to Other Beverages 31:05 Entrepreneurial Journey and Future Plans 47:23 Closing Thoughts This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.filibertoamati.com/subscribe

In this interview, Filiberto speaks with Brian, a long-time friend and fellow IESE alumnus. Brian shares his diverse, entrepreneurial background, from his early days growing up on a farm to becoming a DJ, venturing into landscape architecture, and eventually starting multiple businesses. He discusses his notable endeavour, Death's Door Spirits, which began as an effort to revive farming on Washington Island, Wisconsin, and evolved into a widely respected craft spirits brand sold nationwide and internationally. Brian also recounts the challenges of scaling the business, including the regulatory complexities and intense competition of the alcohol industry. After selling Death's Door in 2019, Brian shifted focus to mentoring and education, teaching high school business and entrepreneurship classes, and launching Ollie and Oona—a fantasy book series designed to teach kids about business principles. The discussion highlights Brian's philosophy of learning through hard work, creative problem-solving, strategic focus, and building meaningful connections.00:00 Introduction and Welcoming Brian 01:38 Brian's Early Life and Entrepreneurial Journey 02:56 Landscape Architecture and MBA Experience 05:18 Transition to Entrepreneurship and Distilled Spirits 06:00 Post-Death Door Ventures and COVID-19 Innovations 09:37 Educational Ventures and Writing for Kids 21:04 Future Plans and Strategic Insights 27:05 The Birth of Death's Door Vodka 27:51 Learning the Craft of Distilling 30:21 Expanding the Product Line: Gin 30:50 Scaling Up and Distribution Challenges 31:43 International Expansion 33:55 Building the Distillery 36:01 Reflecting on the Journey 43:48 Advice for Aspiring Entrepreneurs 53:11 Conclusion and Final Thoughts This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.filibertoamati.com/subscribe