Globally, we may have not been swinging from the chandeliers much over the past two years. When it comes to the secondary market however, Champagne has undergone a period of intense transformation to become one of the most attractive propositions for fine wine investors.
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Inflation is 2022’s pandemic. As we emerge from a health-focused crisis, it’s increasingly becoming clear that the health of the public purse and the damaging cost of living is now society’s most pressing issue. No sector is unaffected. From household items to commercial costs – largely driven by spiralling fuel and shipping increases – all are feeling the additional weight of rising costs, which even the biggest players aren’t able to absorb.
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New Prime Minister Liz Truss has announced there will be a six-month scheme for businesses to tackle the soaring costs of energy bills.
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Australia and Spain are at the forefront of an increasing number of ‘rest of the world’ (RoW) wines that are fuelling growth on the negociant-driven La Place de Bordeaux marketplace.
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On Monday (5 September), Conservative Party members chose a new leader and, therefore, a new Prime Minister. Liz Truss secured 57% of the vote, defeating Rishi Sunak in the race to Number 10.
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London-based spirits distributor, The Bloomsbury Club, is relaunching today to help brand owners “retain control of their products” in a competitive marketplace.
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By the time this feature is published, a new UK wine labelling scheme should be effective. However, according to the Wine & Spirit Trade Association (WSTA), the government has signalled its intention to defer the introduction of the forthcoming labelling rules until 1 January, 2024.
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Pernod Ricard has released its FY22 results, revealing a sales growth of 17% in 2022, totalling €10,701m – the first time the company has exceeded the €10 billion mark.
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As inflation takes hold of consumers and businesses alike, the hospitality industry remains in a deadlock, with businesses planning for more challenging times ahead.
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Inflation has reached boiling point for the wine sector – with climate change adding to a melting pot of pressures which are placing increasing strain on the industry.
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According to new YouGov research, over three-quarters of Tory party members want tax on wine to be frozen at its current rate or reduced.
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The global fine wine and spirits merchant, Bordeaux Index, generated £80m in revenue in the first half of 2022 – an increase of 37%.
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The national accountancy group, UHY Hacker Young, has revealed that a record 64% of the UK’s top 100 restaurant companies are now making a loss.
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June’s like-for-like sales at Britain’s top managed restaurant, pub and bar groups were 5% ahead of the pre-Covid-19 levels of June 2019, the latest Coffer CGA Business Tracker reveals.
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A new report, Future Shock – Leaving Covid Behind, shows sales are back to pre-pandemic levels, but 15% of roles remain vacant, costs are spiralling, and the cost of living challenges is impacting consumer spending.
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With the cost of living ever increasing, UK consumers might be reconsidering the way they purchase spirits, but premium brands are likely in the best position to weather the storm. Now is the time to make the most of that brand equity, and perhaps take some lessons from challenging economic times of the recent past.
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Spearhead, the Black-owned African spirits group, has raised $3 million.
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According to Kantar, sales are falling at all the major multiples, but it’s not all doom and gloom. During the 12 weeks to 12 June, supermarket sales, including alcohol, groceries and softs, fell 1.9% year on year. Supermarket alcohol sales are also declining, down 12% year on year in the same period.
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According to real estate consultancy Altus Group, the number of pubs in England and Wales is now at its lowest point on record, down by more than 7,000 in the last decade.
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A new taxpayer-funded ad campaign will ask businesses to cut prices to help with the cost-of-living crisis from July.
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