Blog: Bear necessities
Chris Brook-Carter | 11 November 2003
This weekend sees the launch of the Russian International Wine & Spirits Fair, during a period of anticipation for the wine market, which continues to grow at 20-30% per annum. However, chaos still characterises the spirits sector, as the government and private business – in particular SPI - fight on for the ownership of the country’s most powerful brands. It is a situation that has been given an added edge by the arrest earlier this month of Mikhail Khodorkovsky, CEO of Russian oil company Yukos.
In terms of PR, the arrest has been an unmitigated disaster for a country desperately trying to convince the foreign business world to direct investment its way.
President Putin’s opponents fear that the arrest may set a precedent as the government moves for greater control over business and the economy – an accusation that has been levelled at the administration by SPI for some time now.
However in an interview this week on the business website cantos.com, Christopher Granville, the chief strategist with United Financial Group, the Russian investment bank, tried to allay those fears.
“This is a prosecution against certain individuals. It will not develop into a campaign against business, either Yukos as a company, as opposed to the prosecution of its individual major shareholders, let alone against business more widely in Russia.”
Worryingly though, he did admit that there were elements in the Putin administration which have an “agenda which goes well beyond the President’s declared agenda. That more radical agenda does seem to involve an idea that the privatisations of the ‘90s need to be reversed.” That said, he implied these elements were under control and that “the line of the President is holding”.
That line, according to Granville, includes doubling GDP in the next ten years, which depends on the investment culture. “It depends on strong investment, especially from foreigners, and therefore he wants to welcome in foreign investors,” he said.
Those after more information on the Russian drinks market should know just-drinks is giving away a report by the investment analysts Standard & Poor's on the future growth prospects of Russia’s brewers.
It is available to members here.
Philadelphia’s soda tax came into force on Sunday, and is reportedly causing a stir in the city's check-out aisles....
Earlier this month, I was most-kindly invited by Accolade Wines to visit the Royal Albert Hall in London. The reason? They wanted to see a tennis great in action, and then give them a guided tour thro...
Do you like whisk(e)y? And, I mean, really like whisk(e)y? Are you at a loose end in the first half of 2017? If so, then I've found just the job for you....
Most of the time, changes at the top of a company present themselves in press releases, stock exchange filings or responses from a spokesperson....
- Chile's winemakers caught out by Brexit "disease"
- What's coming up in beer in 2017? - Comment
- Interview - Pernod Ricard's luxury director
- The just-drinks Analyst - 2017 forecasts
- What's coming up in wine in 2017? - Comment
- Suntory sends staff to fat camp - report
- Diageo Australia names new commercial head
- Pernod Ricard's Absolut Lime - NPD
- Former Stoli Group CEO joins Perfect Vodka owner
- US craft beer growth slows again - IRI figures
- Global vodka insights - market forecasts, product innovation and consumer trends
- The Next Seven Big Beverage Markets
- Global Cognac insights - market forecasts, product innovation and consumer trends
- Global gin insights - market forecasts, product innovation and consumer trends
- Darker Than Before: Global Prospects for Brown Spirits