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While You Weren't Looking Absolut Vodka Lost Its Cool

Absolut Vodka encased in ice.

Absolut Vodka encased in ice.

Photographer: Alastair Miller/Bloomberg

Absolut vodka’s U.S. debut in 1979 excited U.S. drinkers and even inspired Andy Warhol’s artwork. Almost four decades on, America’s tastes have changed.

The market value of Absolut, one of the world’s largest vodka brands, was written down by 404 million euros ($454 million) on Thursday by Paris-based distiller Pernod Ricard SA.