Founder and CEO of Ten to One Rum, Marc Farrell, says global developments have resulted in the rise of a new generation of consumers who values provenance, authenticity and transparency as part of their purchase criteria.
This environment comes with new opportunities that local manufacturers must not let pass them by, said Farrell as he delivered the feature address at the Trinidad and Tobago Manufacturers’ Association (TTMA) President’s Dinner and Awards on Tuesday night.
During his address, Farrell spoke of being steeped in gratitude for the opportunity to return to his home country and share some of his own experiences, in the hope that it might serve as a small catalyst for other local entrepreneurs.
He launched Ten to One Rum in 2019 in New York, and the brand has since become one of the most-awarded rum brands in the world, gaining the attention of Grammy award-winning artist and entrepreneur Ciara as investor and co-owner in October 2021, and growing its territory to over 20 US markets in a short timespan.
“We must galvanize our collective efforts in the pursuit of new verticals that can provide incremental avenues of wealth for our nation, and we must mobilise these same efforts in search of new market frontiers, whether in the US, Latin America, Europe and beyond,” said Farrell, in his address to the audience of mainly local manufacturers.
“From steelpan to cocoa to Carnival, we have to challenge ourselves to turn our own nascent domestic superpowers into downstream industry, with tangible goods and services made available both here and abroad. For a long time we’ve thought of ourselves as ‘resource rich’ but seemingly only in the context of oil and gas. It’s now time to challenge and expand that definition to include the many other aspects of our resourcefulness, our aptitude, and our culture that will enable us to chase and to create new opportunities for ourselves in the future.”
Farrell shared that 20 years of living outside T&T has taught him that Trinbagonians are an exceptional people, ready to rise to this challenge. He urged entrepreneurs and local businesses to seek to enter untapped global markets for greater prosperity, confident in the knowledge that our small country has already seen an outsized and significant impact on the global stage.
The current portfolio of Ten to One Rum blends rums from all over the Caribbean, including Jamaica, Trinidad & Tobago, the Dominican Republic and Barbados, and currently includes several expressions.