Virgin Wines, one of the UK’s leading online wine retailers, has announced a new growth strategy which aims to increase the company’s yearly revenue to £100m within five years. This would represent a substantial increase as the retailer's revenue for the 2024 financial year stood at £59m.
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Britain’s leading restaurant, pub and bar groups delivered fractional like-for-like sales growth of just 0.1% in February, signalling a challenging start to 2025 for the sector as consumers continue to remain watchful of their disposable income.
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Following portfolio additions and a team restructure, there’s an upbeat mood at Fells, as Andrew Catchpole discovers.
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Hospitality business confidence has hit a low not seen since October 2022, when inflation peaked at a 40-year high.
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New data from the Office for National Statistics (ONS) can reveal hospitality had another strong month in December 2024, with output for the food and drink sector growing 2%. This made it the largest contributor to growth for the wider consumer-facing services industry.
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Sake exports grew by +6% year on year for 2024 compared to the year prior, with the export value reaching 43.5bn yen (approximately £230mn) with 3.45mn cases of the rice wine reaching a record 80 countries and regions.
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Few followers of Harpers newsfeed could have missed the massive drive by Hallgarten & Novum Wines to bring aboard new agencies and staff in the wake of its acquisition by Coterie Holdings in December 2023. In the past 12 months alone, some 30 producers, along with 300 wines, have been added to the portfolio, backed by 30 new faces that have joined the team. And the upshot is a strengthened import and distribution business that is a serious force to be reckoned with, anchored by the investment and stability that Coterie has been able to provide.
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The export curve of Austrian wine suffered a blip in 2024. After particularly strong growth in 2023, total export value for the first three quarters of 2024 sank 5.1%, while the export volume remained almost steady.
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New figures from CGA RSM Hospitality Business Tracker shows year-on-year growth of 3.2% for December 2024, reflecting a month of boosted sales for hospitality.
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Britain’s leading hospitality groups recorded year-on-year sales growth of 2.7% in November 2024, marking the first ‘real-terms growth’ since June this year.
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A new report by Wine Cap suggests that investors are prioritising Super Tuscans over Chambertin, with modest declines in price compared to the most prestigious blue chip Burgundies.
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The UK’s leading hospitality groups achieved overall year-on-year sales growth of just 0.6% in October 2024, despite an increase in new openings recorded last month.
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Britain’s leading hospitality groups recorded modest year-on-year sales growth in September, continuing a trend of like-for-like growth that has been in situ since the beginning of the year.
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In a New Year message, UKHospitality (UKH) has outlined its priorities for the year ahead, with “respite from endless price rises” among those at the top of the pile.
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Many years ago I was asked to act as a strategic consultant to a Chilean wine business. They wanted help with reformulating their strategy, first to achieve break even, then to reach sustainable profitability. The business was 100% targeted at export markets, with the UK a key priority.
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According to research across 36 countries by IPSOS, a majority of people think the global economy will get worse in 2023. A whopping 79% think prices will rise faster than incomes, 57% believe it will be the hottest year on record in their country, and an alarming 48% think nuclear weapons will be used in a conflict somewhere in the world.
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Jascots Wine Merchants has recorded strong results for 2022, laying growth at the door of new business and an ongoing focus on range premiumisation.
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Low & no drinks are set to accelerate over the coming years, the IWSR has revealed, with analysts predicting that consumption will increase by a third by 2026, exceeding earlier growth rates.
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"How is the electorate feeling? Anxious, in a word. Our August optimism score was the lowest we’ve ever recorded.
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A new report issued by Rabobank, the multinational banking and financial services company, has examined the potential for a looming US recession to shrink the hitherto booming market for luxury brands.
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