Pernod Ricard, the No.2 worldwide producer of wines and spirits, has announced its sales for the first nine months of FY22, and the results are very strong despite a volatile global market.
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A collection of five of South Africa’s finest and most historic wines have been sold as NFTs, marking a first for the South African fine wine industry.
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According to the latest data from Lumina Intelligence, consumer spending in the on-trade has declined by -9%, in the 12 weeks ending 20/03/2022.
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South African auction house Strauss & Co has partnered with five of SA's most respected fine wine producers to offer Africa’s first fine wine Non-Fungible Tokens (NFT) on auction from 18-15 April.
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Champagne sales surpassed pre-pandemic levels last year, with over 320 million bottles shipped worldwide and the US overtaking the UK as Champagne’s top export market by volume.
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In a sector facing soaring costs and plummeting consumer confidence, today’s increase in VAT gives operators a tough decision to make on price rises.
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Yesterday, the cross-party, cross-business UK Trade and Business Commission heard that post-Brexit import checks would create less choice and higher prices for UK wine consumers.
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After a 6% drop in 2020, winery sales bounced back by 9% last year, according to data released by the Provence Wine Council (CIVP). The recovery is mainly due to good export figures, fuelled by booming European markets, and increased sales in channels such as wine merchants and hospitality outlets.
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The Bourbon Alliance and its members have welcomed the announcement of a resolution to a trade dispute, which resulted in destructive tariffs on American Whiskeys.
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Today, the government has officially returned the VAT rate for the hospitality and tourism industry to 20% (24 March).
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The Wine and Spirit Trade Association (WSTA) has convened a meeting of MPs and Lords to hear first-hand from British businesses how the ‘punishing’ proposals for duty reform from three to 27 tax bands will negatively impact the drinks industry and consumers.
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While there was little to celebrate in 2020, Champagne was back with a bang last year, which seemed to take everyone – including the Champenois – by surprise.
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Virgin Wines, one of the UK’s largest direct to consumer online wine retailers, announced its interim results for the six months ended 31 December 2021.
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Britain’s managed restaurant, pub and bar groups raised sales above pre-pandemic levels in February, thanks mainly to the removal of Covid-19 restrictions. Still, high inflation continues to make real-terms growth challenging.
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As the cost of living increases, consumers are looking to reduce spending, and recreational drinking could bear the brunt.
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In April, the VAT on hospitality sector purchases will return to the pre-pandemic rate of 20%. The increase follows two years of reduced rates for the industry; in July 2020, rates were reduced to 5% before rising to 12.5% in October last year.
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Concha y Toro, the UK’s second-largest wine company by retail sales, will mark B Corp month with a wide-ranging social media campaign.
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Hospitality sectors in major British cities including Bristol and Manchester are recovering their vibrancy as Covid restrictions wind down, according to new research.
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The UK has signed a far-reaching trade deal with New Zealand to remove trade barriers on many UK goods and services and provide new opportunities for British businesses.
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Independent retailers in Northern Ireland have cautiously welcomed the announcement that non-domestic rates are to be frozen for the next financial year and that businesses will still receive a three-month rates holiday.
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