As a female African American co-founder of a spirits brand, Fawn Weaver had her work cut out for her. But since the whiskey's debut in 2017, she and her team have found great success while remaining dedicated to the legacy of its namesake, Nathan "Nearest" Green.
Green worked for Jack Daniels and was the first African American master distiller. Many connoisseurs consider him the godfather of Tennessee Whiskey.
"He is the person that we know that has essentially perfected the difference between Kentucky Bourbon and Tennessee Whiskey," Weaver, co-founder, CEO, and chief historian of Uncle Nearest Premium Whiskey told Cheddar on Thursday.
Weaver says that the Lincoln County Process, when a distiller filters bourbon through sugar maple charcoal, was a practice brought over from West Africa.
"You cannot make Tennessee Whiskey without following the process that he taught," she said.
While staying true to growing awareness about Green's legacy, Uncle Nearest Whiskey has seen sales rise at a neck-breaking speed. According to Weaver, her company is the fastest growing independent whiskey brand in U.S. history.
But plans to expand internationally were put on pause after the EU slapped tariffs on whiskey exports from the U.S. As a result of those retaliatory tariffs, American whiskey sales in the EU dropped 27 percent in 2019, according to The Distilled Spirits Council of the United States.
"I hope they get this worked out soon because it's harmful to American businesses," Weaver said of the tariffs. "We completely changed our strategy ... We just decided to beef up here domestically."
While demand at home is healthy, Weaver says she is careful to build out the right team and culture for Uncle Nearest.
"We're not going out and selling whiskey," Weaver said. "We are literally the stewards of a man's legacy that we brought forward."
<i>Descendents of Nearest Green with Uncle Nearest co-founder and CEO Fawn Weaver. / Uncle Nearest Whiskey</i>
As a female-founded company in a male-dominated industry, Uncle Nearest has had to find creative ways to build business relationships. In the early days, Weaver said she recruited her husband to make important phone calls because the appearance of a man running a distillery resulted in higher interest from potential partners. He portrayed this leadership role despite working a full-time job as an executive at Sony.
Still, Weaver says she unintentionally built an all-female executive team at Uncle Nearest.
"I didn't even realize until a year and a half in that that was the case," Weaver said. "I wasn't looking for that."
Weaver says that more women in the spirit industry are being promoted into roles traditionally held by men, like master distiller and general manager.
"The success of Uncle Nearest is really leading the way for other women, for other people of color to come out and do well in this industry," Weaver said. "Not selling to a specific demographic, but selling to everybody. It just so happens that we're a different gender."
Wealthfront’s CFO Alan Iberman talks the $2.05B IPO and the major moment for robo banking as the company bets on AI, automation, and “self-driving money."
A rare magnum of Dom Pérignon Vintage 1961 champagne that was specially produced for the 1981 wedding of Prince Charles and Lady Diana has failed to sell during an auction. Danish auction house Bruun Rasmussen handled the bidding Thursday. The auction's house website lists the bottle as not sold. It was expected to fetch up to around $93,000. It is one of 12 bottles made to celebrate the royal wedding. Little was revealed about the seller. The auction house says the bids did not receive the desired minimum price.
The New York Times and President Donald Trump are fighting again. The news outlet said Wednesday it won't be deterred by Trump's “false and inflammatory language” from writing about the 79-year-old president's health. The Times has done a handful of stories on that topic recently, including an opinion column that said Trump is “starting to give President Joe Biden vibes.” In a Truth Social post, Trump said it might be treasonous for outlets like the Times to do “FAKE” reports about his health and "we should do something about it.” The Republican president already has a pending lawsuit against the newspaper for its past reports on his finances.
OpenAI has appointed Slack CEO Denise Dresser as its first chief of revenue. Dresser will oversee global revenue strategy and help businesses integrate AI into daily operations. OpenAI CEO Sam Altman recently emphasized improving ChatGPT, which now has over 800 million weekly users. Despite its success, OpenAI faces competition from companies like Google and concerns about profitability. The company earns money from premium ChatGPT subscriptions but hasn't ventured into advertising. Altman had recently announced delays in developing new products like AI agents and a personal assistant.
President Donald Trump says he will allow Nvidia to sell its H200 computer chip used in the development of artificial intelligence to “approved customers” in China. Trump said Monday on his social media site that he had informed China’s leader Xi Jinping and “President Xi responded positively!” There had been concerns about allowing advanced computer chips into China as it could help them to compete against the U.S. in building out AI capabilities. But there has also been a desire to develop the AI ecosystem with American companies such as chipmaker Nvidia.