Tequila maker says tariffs won't affect his prices. Here's why he plans to absorb costs [MSNBC.com]
Diageo plc (DEO)
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Source: MSNBC.com
While some tequila makers have warned they might have to implement price hikes to offset tariffs, Colorado-based Suerte Tequila said it has been able to keep overhead prices low enough that it will absorb the levies if necessary.The Jalisco-made tequila label will not pass costs on to customers."Absorbing the cost of the tariff goes right along with our philosophy and the way that we were setting up and designing and growing our business," said Laurence Spiewak, Suerte Tequila CEO.Suerte Tequila is a small-batch, single-estate, handcrafted tequila that launched in 2012. One year into operation, Suerte acquired majority ownership of its factory in Mexico from the distiller's family, Spiewak told CNBC.Along with its distillery, Suerte is one of a few re
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