Kendall Jenner founded 818 Tequila in 2021. Mike Novy, the CEO of 818 Tequila and Calabasas Beverage Company, talks about what Jenner's brand is doing to separate itself from a crowded field of celebrity-backed spirits companies.

"What we did is we took a look at taking her vision and putting that into a business plan and fundamentally, it's three parts: It's all about having good times with friends, it's about quality craftsmanship, and it's about social responsibility," Novy tells Yahoo finance. "I think because we are doing all three of those in harmony and in balance, we've actually separated ourselves from the pack."

Novy goes on to explain how Jenner guides the company's marketing of the brand and how to do so in an environmentally-conscious way. He also talks about trends in the alcohol industry with consumers preferences shifting from beer to wine to spirits and no ready-to-drink cocktails.

Watch the video above to hear Novy's take on alcohol industry trends.

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This post was written by Daniel A. Nelson