FRANCE: Wine, spirits markets under pressure - Pernod Ricard
Market slowdowns have occured in the UK, Spain and France, with the latter also hit by the introduction of a smoking ban in bars and cafes at the beginning of the year, Pierre Pringuet said in an interview published in France's La Tribune newspaper today (29 October).
His comments, which are published 24 hours prior to Pernod's first quarter results, were confirmed to just-drinks by a company spokesperson.
He added that Pringuet was referring to the general market situation in Europe, not specifically to Pernod sales, however.
Pringuet also said that Pernod would not offload non-core spirits brands at bargain prices during the financial crisis. He said in July that Pernod would look to sell several "peripheral" brands, following its purchase of Vin & Sprit, in addition to the ones it must sell to satisfy competition authorities.
Next month, Pringuet will move up to assume the CEO position at Pernod, when Patrick Ricard retires from the position. Ricard will continue in the chairman role he currently holds, however.
Champagne and Cognac group Rémy Cointreau watched its full-year sales slip by 11.6% this week as demand for premium alcohol continued to drop. Michelle Russell assesses the group's prospects....
Reluctance by wholesalers and distributors to order in fresh stock, for fear that consumers will not buy, is proving to be the weak spot in drinks companies' handling of the economic downturn in early...
Pernod Ricard has lined up a flavour extension to its Malibu rum brand in the US....
A shake-up is underway in the global spirits industry, with Beam Global Spirits & Wine potentially under threat and the emergence of a "new Maxxium" on the cards, an industry analyst has told the Worl...
Pernod Ricard is rolling out its recently-previewed television commercial for Absolut vodka across the world....
Pernod Ricard has launched an ultra-premium, limited edition brand extension for its Martell Cognac brand in the US....
The top ten stories published on just-drinks this week:...
Bacardi has declined to comment on a report that it is interested in acquiring a stake in Indian spirits firm Radico Khaitan....
- Has the politics of M&A changed? - Analysis
- Fruit-flavoured beer? Think of the kids - Comment
- Most Valuable Spirits Brands in 2017 - The facts
- Most Valuable Beer Brands in 2017 - The facts
- Interview, Fever-Tree's founders
- Anheuser-Busch readies US executive switches
- Brexit paperwork offers alcohol smuggling opp's
- Diageo's Captain Morgan LocoNut - NPD
- Asahi’s Peroni Ambra - NPD
- Irish whiskey hails bid to relax distillery sales
- Central and East Europe Report Package
- Battle of the Generations - The fight for iGen, Millennial, Gen X and Baby Boomer consumers
- Global vodka insights - market forecasts, product innovation and consumer trends
- The Next Seven Big Beverage Markets
- Global rum insights - market forecasts, product innovation and consumer trends