Dear Client: A group of bev alc industry veterans are taking their collective expertise and capital to help entrepreneurs through a new investment and operating group called No Sleep Beverage. To get the lowdown on the new company, your editor recently chatted with former Pernod Ricard exec and now No Sleep Beverage founder and ceo … Continue reading "New Investment Group Aims to Assuage Brand-Building Pain Points"
Dear Client: Brown-Forman reported net sales growth of 2% for the first half of its fiscal 2024, ended October. This was driven by emerging and developed international markets as well as the travel retail channel, and was partially offset by declines in the US. In Q2, reported net sales were up 1%, as "key drivers" … Continue reading "B-F Lowers Guidance Amidst Continued High Comps"
Dear Client: Constellation Brands cfo Garth Hankinson took the stage this afternoon at the 2023 Morgan Stanley Global Consumer and Retail Conference. Morgan Stanley analyst Dara Mohsenian kicked off the conversation with the fact that Constellation has "been through a period of very pronounced change" the last couple of years, particularly from a governance perspective. Indeed, Garth … Continue reading "Why Constellation Remains Confident in High-End Growth"
Dear Client: Inflation in wine has been lower than overall CPG over the last 12 months, at 4% and 8%, respectively. That difference has been attributed to things like consumer pushback, the nature of the three tier system, and more. A panel at the recent Wine Industry Financial Symposium discussed the current wine pricing environment … Continue reading "What’s Influencing Wine’s Pricing Power"
Dear Client: Online bev alc marketplace Drizly recently released a couple of reports looking back on sparkling wine and Champagne trends from the past 12 months and forecasting holiday season trends. After riding a pandemic-era rocketship, the sparkling wine category's performance is still strong, but leveling out. "Sparkling wine is increasingly seen as suitable for … Continue reading "Drizly: Consumers Bring Out the Bubbly in 2023"
Dear Client: It's becoming increasingly apparent that there are some shifts taking place in the red-hot agave spirits category. The IWSR released a report this week that predicts that the "era of rapid growth for high-end tequila in the US could be at an end after a dramatic slowing of growth for premium-and-above products during … Continue reading "Is Agave Premiumization Over?"
Dear Client: While we wait for Thanksgiving numbers to roll in, here's a look at category growth (or lack thereof) leading up to the major holidays in NielsenIQ-measured off-premise channels through November 4. SPIRITS STILL GROWING. Total spirits sales were up 3.4% for the 52 weeks through November 4, with volumes outpacing sales growth at … Continue reading "NielsenIQ: Pre-Holiday W&S Temp Check"
Dear Client: Pernod Ricard announced today that Conor McQuaid will take over as ceo of North America, effective January 1. He will succeed Ann Mukherjee, who has decided to step down "to focus her time and energy on her family's well-being," per release. Conor has been with the company for the last 25 years, holding … Continue reading "Pernod Names New North America CEO"
Dear Client: The Thanksgiving holiday is now behind us and so is the 2023 wine grape harvest. This year's California wine grape harvest was "large and late," said The Ciatti Company partner Glenn Proctor at the recent Wine Industry Financial Symposium. Glenn estimated the statewide grape crush will total about 3.5 million to 3.6 million … Continue reading "2023 Wine Grape Crop Bigger than Needed or Expected"
Dear Client: Last week your editor made the trek to Napa Valley for the 32nd annual Wine Industry Financial Symposium. The Wine Business Institute at Sonoma State University presented the findings from their annual wine executive survey at the event, providing insight into multiple facets of the wine business from pricing and inventory to growth … Continue reading "Survey: Wine Execs Optimistic Despite Industry Headwinds"