Latest / Family Business Stories with Fexingo: Succession, Legacy, and Multi-Generational Companies / How the Ricard Family Built Ricard Pastis
Transcript
- Lucas: So picture this: it's 1932, and a twenty-three-year-old guy from Marseille is sitting in a bar, sipping a mix of anise and licorice, and he thinks, 'I can sell this.' That guy was Paul Ricard, and the drink was pastis. Luna: And he wasn't exactly an outsider, right? His family had some money in wine and spirits, I think. Lucas: Right, his father was a wine merchant, but Paul wanted to do his own thing. The key moment, though, was that absinthe had been banned in France since 1915, so there was this huge hole in the market for anise-flavored spirits. Pastis filled that gap. Luna: And he didn't just sell it, he branded it. I remember the whole 'Ricard, le vrai pastis de Marseille' thing. Lucas: Exactly. He understood early on that the product alone wasn't enough. He invested in advertising, which was unusual for a small producer at the time. He put up posters all over Marseille, he sponsored local events, and he built the brand around the idea of Provençal leisure and sunshine. Luna: So the brand was basically born as a lifestyle, not just a drink. That's a smart move, especially back then. Lucas: And it worked. By the late thirties, Ricard was selling millions of liters a year. The war interrupted things, but after the war, he doubled down. He even built a factory in Marseille and kept production local, which was a point of pride. Luna: I've read that he was also a bit of a character. He had a passion for sailing, even built a racing yacht. How did that play into the business? Lucas: That's the thing, the Ricard brand was always tied to this image of the good life. Paul Ricard himself was the embodiment of that. He used his celebrity status to promote the brand, and that personal association was a huge part of the marketing mix. Luna: So we're talking about a family business that's not just about the product, but about a whole identity. How did they handle growth and keeping it in the family? Lucas: Well, Paul's son, Patrick, took over in the seventies. But before that, there was a crucial decision: in 1975, they merged with Pernod, their biggest competitor. That created Pernod Ricard, which is now one of the largest spirits companies in the world. Luna: And that merger was a bit controversial, wasn't it? I mean, they were competitors, but also both from Marseille. Lucas: Right, but it was a way to pool resources and expand globally. Patrick Ricard was the architect of that move, and he stayed at the helm of the merged entity for decades. The family kept control through a holding structure, so they didn't lose the reins. Luna: And the Ricard brand itself remained the flagship, even after the merger. That's pretty impressive. Lucas: Absolutely. Today, Ricard is still one of the top-selling pastis brands in the world, and it's synonymous with French summer. But the family's story doesn't end there. Let's talk about the third generation. Luna: Yeah, what happened after Patrick? I think his son, or maybe a nephew, took over. Lucas: Patrick's son, Alexandre, became chairman in 2015, and he's the third generation. He's had to navigate a different landscape: the rise of craft spirits, changing drinking habits, and keeping a brand that's seen as traditional relevant to younger consumers. Luna: So how do you modernize a pastis brand without losing its soul? That's the classic family business challenge, right? Lucas: Exactly. They've introduced new flavors, they've done collaborations with artists, they've pushed into new markets like Asia and the U.S. But they've been careful not to dilute the core image. The brand is still 'the true pastis of Marseille,' and they've doubled down on that heritage. Luna: I also think the family's involvement in local community and sports — like the sailing regatta they sponsor — helps keep that authentic connection. It's not just a faceless corporation. Lucas: That's a good point. They've kept the business anchored in its roots, even as it's gone global. And that's a lesson for any family business: you can grow, but you have to know what you stand for. Luna: Before we get too deep into the future, let's talk numbers. How big is the Ricard brand today, and what's the overall scale of Pernod Ricard? Lucas: Pernod Ricard is a giant. In 2025, they reported revenue of around twelve billion euros. Ricard itself is a significant chunk of that, and the brand has a strong position in the French market, holding about a third of the pastis segment. Luna: A third of the market is solid. And they've managed to keep that for decades, despite competition from lower-priced brands and changing tastes. Lucas: Yeah, and that staying power is partly due to the family's long-term vision. They're not just thinking about the next quarter; they're thinking about the next generation. That's a big advantage in an industry that's often focused on short-term gains. Luna: So when we talk about family businesses, the Ricard story shows that a strong brand identity, a clear set of values, and a willingness to adapt without losing your core can be a winning formula. Lucas: And it's interesting, because at the heart of it, you have a drink that's essentially an anise-flavored spirit, but it became a symbol of a whole culture. That's the power of branding and family stewardship. Luna: It's also a reminder that family businesses don't have to be small. They can scale and still keep that personal touch. I mean, Pernod Ricard is massive, but the Ricard brand still feels like it has a story behind it. Lucas: Absolutely. And speaking of that story, it's a good reminder of why we do this show. We get to dig into these narratives that are often overlooked. And if you're finding value in these conversations, if they've given you a new perspective on your own work or life, you can support the show. It's what keeps us going, and it's a small way to help us keep doing this without ads. Luna: Yeah, we really appreciate that. It's a simple gesture, but it makes a difference. Lucas: You can do that at buy me a coffee dot com slash fexingo. And now, back to the Ricard family. One thing I find fascinating is how they've handled the tension between tradition and innovation. They're not afraid to try new things, but they always tie it back to the brand's roots. Luna: Like that time they released a line of ready to drink pastis cocktails. That was a bold move, but it made sense for a younger audience. Lucas: Exactly. And they've been smart about digital marketing too, using social media to connect with a new generation. But they haven't abandoned the classic image of pastis being served on a terrace in the south of France. Luna: So what's next for the Ricard family? Do you think they'll keep the same approach? Lucas: I think so. They've shown that they can adapt while staying true to their heritage. The key will be whether they can continue to balance growth with authenticity. And that's a challenge every family business faces at some point. Luna: Well, they've been doing it for almost a century, so I'd say they've figured out a few things. It's a great example of how a family can build a lasting legacy. Lucas: And it all started with a young guy in a bar. Sometimes the simplest ideas, combined with smart branding and family persistence, are the ones that last. That's the Ricard story in a nutshell.