Ivan Cites “Recovery” in Super Premiums
It's been well documented in this publication that Diageo has improved its price-mix by scaling back on promotions in the US, which has consequently taken a toll on volumes. Ivan Menezes, president of Diageo North America, said as much this morning, noting that "while overall consumer confidence remains subdued we have seen some recovery," particularly in the "premium, and especially the super premium, segments." Commenting on the year ended June 30, Ivan said that they have shifted their focus "on value creation" by yes, reducing promotions, and also investing behind premium brands and driving innovation.
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