The spirits industry has long been dominated by a select few, but Dia Simms is determined to change that. With over two decades in the business, she isn’t just making a name for herself – she’s creating opportunities for others. As the CEO of Lobos 1707 and co-founder of Pronghorn, Simms is leading an effort to bring real diversity to the $284 billion U.S. liquor market. And she isn’t waiting for permission.
Simms and her Pronghorn co-founders, Erin Harris and Dan Sanborn, set an ambitious goal to generate $2.4 billion in economic value for the Black community by 2032. The numbers speak for themselves: Black consumers make up nearly 12% of the spirits industry’s customer base yet hold only 8% of the workforce and just 2% of executive leadership roles. Pronghorn is actively addressing this disparity by investing in Black-owned liquor brands and creating a pipeline to put 1,800 Black professionals in corporate roles over the next decade.
A mission for long-term change
In an interview with Food & Wine published on Tuesday (March 4), Simms described her approach to long-term change. “The cheetah would win if it was a sprint,” she said. “But if you really want to go for the long haul in a race, the pronghorn will win every single time. We’re trying to catch up on centuries of inequity. We have a very long road [ahead], but we don’t have a lot of time.”
This movement is about more than just representation – it’s about ownership. For too long, Black entrepreneurs influenced the culture of the liquor industry without benefiting from its massive profits. While white-owned brands historically secured major deals, Food & Wine revealed that the only recorded sale of a Black-owned liquor brand exceeding $1 million was JAY-Z’s D'USSÉ cognac stake being relinquished to Bacardi.
That’s why Pronghorn is investing in brands like Ten To One, a company redefining premium rum with a modern approach. And they’re not alone. Kevin Hart’s Gran Coramino tequila and (along with D'USSÉ) JAY-Z’s Armand de Brignac champagne are all part of a growing wave of Black ownership in the spirits industry. LeBron James, a major investor in Lobos 1707 through the Main Street Advisors group, has also been making strategic moves in the space.
Other products, such as Uncle Nearest whiskey – founded by Fawn Weaver to honor the first-known Black master distiller – are also breaking barriers. According to Inc.com, Uncle Nearest became the fifth Black woman-owned entity to reach a $1 billion valuation. Weaver made it clear that she has no plans to sell and instead pledged to pass the business down to Nearest Green’s descendants. Meanwhile, Beyoncé expanded her entrepreneurial footprint with SirDavis Whisky. In an interview with GQ, the music icon reinforced her belief that “it's a fulfillment of a legacy.”
Removing barriers and building legacies
Simms knows that achieving success in the spirits industry is no easy feat. Strict regulations vary from state to state, and without the right connections, breaking in can be nearly impossible. That’s why Pronghorn isn’t just providing capital. It’s offering mentorship, strategy and industry expertise to help Black-owned brands navigate these challenges and achieve long-term success.
In her aforementioned conversation, Simms explained her no-nonsense approach to industry change. “We were like, ‘Don’t call me if you want to paint a mural,’” she expressed. “If you’re serious, I’m going to come with a serious plan.” This is not about small wins as much as it’s about a fundamental shift in the industry. As she put it, “It’s not a game of musical chairs. It’s a game of building a bigger table.”