Marvin R. Shanken, B.B.A. ’65, built an empire around two early loves: fine wine and cigars.
For years he toiled without returns to parlay those passions into successful luxury brands such as Wine Spectator and Cigar Aficionado.
“Nothing is out of reach if you work hard enough and are willing to take risks,” the 2009 UMAA Alumnus in Residence told University of Miami students in February during his two-day visit to School of Communication and School of Business Administration classes.
The founder, chairman, and CEO of M. Shanken Communications, Inc. offered insights about everything from journalistic integrity to strategic brand management, explaining how dreams and drive helped him develop a dynasty of top-shelf lifestyle publications geared to novices and pros alike.
“Magazines led by committee dilute content,” he said. “The magazines have to reflect your soul.”
After graduating from UM and earning an M.B.A., Shanken hit Wall Street. But when business landed him in California wine country, it was love at first sip. His passion for wine inspired him to buy and revive a failing newsletter in 1973. He did it again in 1979 with a 12-page tabloid called Wine Spectator. Defying naysayers, he launched Cigar Aficionado in 1992 after a trip to Cuba, sparking a cigar boom. Today Wine Spectator is a thick glossy with 400,000 paid subscribers, 2.7 million readers, and a comprehensive Web site that boasts up to 10 million views per month. Aficionado reports a quarter-million subscribers and 1.9 million readers.
And Shanken, an active philanthropist with wife Hazel, remains married to his mission. “I don’t consider myself a publisher,” he told UM students. “I’m an educator. I educate and entertain people about life and the interests they have.” |