This week in spirits & wine, featuring Diageo's departing chairman, Moet Hennessy's Q1 numbers and Freixenet's takeover speculation
This week in spirits & wine
Here's a basic guide to importing bottled alcoholic beverages into the US, with links to relevant pages on regulator the Alcohol & Tobacco Tax & Trade Bureau's (TTB's) website.
For the multinational spirits companies, the US is a market of vital importance. As well as being the world's largest market for spirits in value terms, the country also offers relative reliability, in terms of its economy, its regulatory environment and its consumption trends. Most importantly, the US offers growth. In a note to clients late last week, analysts at Bernstein considered the current and future performances of the seven biggest companies in the spirits space.
Diageo is looking for a new chairman as Franz Humer prepares to step down after eight years in the role.
Strong Champagne sales in Q1 combined with a bounce-back in China to give LVMH's wines & spirits unit, Moët Hennessy, a solid start to the year.
Jack Daniel's owner Brown-Forman has launched its first new Bourbon brand in 20 years.
Spanish Cava producer Freixenet has declined to comment on a report it has received a takeover offer.
LVMH's CEO has given the first official confirmation of a Chinese New Year rebound for Cognac, revealing at least mid-single digit growth during the critical selling period.
Stock Spirits has followed last week's call from a major shareholder for its CEO to resign with an upbeat trading statement for the first quarter.
Patrón's marketing head has said an influx of "opportunistic" Tequila brands using inferior agave is hurting the category.
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