How Renais is trying to make ultra-premium gin popular in the U.S.

Renais has lofty ambitions to be the leading global ultra-premium gin brand. The company, which launched in 2023 in Europe and expanded to the U.S. last year, just raised a fresh round of capital and is working on expanding even further. It was founded by CEO Alex Watson and his sister, actress Emma Watson. Renais Gin isn't cheap -- it retails for around $60 a bottle. But it offers a product that reuses pressed wine grapes from the Watson family's vineyard in France, ultimately making a more sustainable and higher-level gin offering. According to Alex Watson, who joined this week's Modern Retail Podcast, Renais' growth comes at a fortuitous time. "Martinis are having a moment right now," he said. And while people are drinking less -- especially this month -- they are seeking better options. "People generally are consuming less alcohol these days, but they're trading up," Watson said, "so the volume and the share is all shifting into higher value products." That gives Renais a clear path to growth. Still, Watson admitted, there are some big competitors in the space. "Some of the headwinds that we face [are] both going up against the likes of the big boys and hundreds-of-years-old brands," he said. However, he thinks gin may be the best place to introduce a new higher-end product. "Although there's been a lot of innovation in gin -- and there are a lot of gins out there -- there are very few in what we would call the ultra-premium segment of the category," Watson said.