Following news that the Liv-ex Fine Wine 100 Index ended 2023 down 14.1%, WineCap has outlined its expectations for the year ahead, amid a ‘correction phase’ which might present opportunities for investors.
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After several years of enjoying relative immunity to the surrounding socioeconomic turmoil, the fine wine sector finally succumbed in 2023, suggesting investments are not as fail-safe as they once were.
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Wine retailer Majestic has announced its best-ever Christmas trading performance, boosted by six new store openings in 2023 and its growing B2B division, Majestic Commercial.
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Sales of British alcohol products such as English sparkling and Scotch whisky are on the rise in the Indo-Pacific region, the UK government has announced.
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Following months of campaigning, leading hospitality bodies are ‘extremely disappointed’ with yesterday’s Budget announcement in Scotland.
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Hallgarten & Novum Wines has been purchased by Coterie Holdings, joining Lay & Wheeler, bonded warehousing Coterie Vaults and wine lender Jera in a growing fine wine portfolio.
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A new study from Forbes Advisor, the price comparison and financial guidance platform, has found that two in five Brits (44%) are choosing not to dine out this festive period (1 December - 2 January), the same figure it was 12 months ago when the survey was last conducted.
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Lidl GB has revealed that it has the bestselling wines across three categories – Montepulciano, Saint Emilion and Nero D’Avola, with prices starting from £5.
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New analysis has revealed that thousands of Scottish hospitality businesses will be left unsupported if a rates relief isn’t included in the Scottish Budget tomorrow (19 December).
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Campari Group is set acquire Courvoisier from Beam Suntory, adding what the company describes as a “fourth major leg” to its spirits portfolio.
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UKHospitality Wales has called on the Welsh government to boost beleaguered pubs, hotels and restaurants in Wales and provide vital business rates relief in next week’s Budget.
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Following a review of business payments and cash flow, the government has found that small and medium-sized enterprises (SMEs) were owed on average £22,000 in late payments in 2022.
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Britain’s leading hospitality groups achieved year-on-year (YOY) sales growth of 4% in November, the new CGA RSM Hospitality Business Tracker has revealed.
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Fine wine and spirits merchant Berry Bros. & Rudd (BBR) has announced its financial results for the financial year ending 31 March 2023, reporting a sales growth of 11.1% on the previous year to £254.3m.
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Circana, a leading advisor on consumer trends, has revealed in its ‘12 weeks till Christmas tracker’ an upward trend in wine sales in terms of value.
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Workers union Unite has today (29 November) confirmed that over 500 members at Chivas Brothers distilleries and warehouses across Scotland are set for strike action in the coming weeks.
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Following rumours of a second duty hike in line with inflation, the government quelled fears by announcing a freeze on alcohol duty in the Autumn Statement last week.
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Despite a turbulent year financially for many drinks companies due to factors not limited to inflation, duty hikes and the cost-of-living crisis, some brands are purchasing primetime TV advertising slots in the lead-up to Christmas.
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Chancellor Jeremy Hunt has quelled fears of a second duty rise this year in this afternoon’s Autumn Budget, by announcing a freeze until August next year.
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The UK Spirits Alliance (UKSA), representing hundreds of small businesses across the UK, has called on the government to back hospitality and distilleries by freezing duty on spirits at the Autumn Statement.
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