At the London Wine Fair 2024, Miles Beale, chief executive of the Wine and Spirit Trade Association (WSTA), delivered a comprehensive ‘State of the Nation’ speech, reflecting on the past four and a half years of the UK wine market under various government administrations and outlining the sector’s needs from the next government.
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Pernod Ricard, a global leader in the spirits and wine industry, has reported robust performance in its third-quarter sales figures, indicating improving momentum across various markets. Despite challenges in certain regions like China and the US, Pernod’s premium international spirits portfolio and broad geographic footprint have largely mitigated the impact.
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Campari Group is set to double the production capacity of Aperol by expanding its Novi Ligure Plant, the group’s largest production hub globally.
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UK inflation slowed less than expected last month, despite the rate of price increases falling below that of the US for the first time in two years.
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English sparkling wine producer Nyetimber has agreed a deal in principle to buy The Lakes Distillery in a £46.1m deal.
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Signs of economic recovery are starting to appear in the fine wine market after a year of consistent declines. The industry benchmark, the Liv-ex 100 index, has been in freefall since March 2023, dipping 14.6%, whilst the broader Liv-ex 1000 index has fallen 15.3%.
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The government is using public health arguments as a “thin veneer to maintain market distortions” Miles Beale, chief executive of the WSTA, has said in a rebuttal of the claims made by Gareth Davies at the Westminster Hall debate earlier this month.
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The UK’s largest wine retailer, Majestic, has confirmed it is “exploring a deal to purchase all or part of the Vagabond Wines business”.
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Online wine retailer Naked Wines has hired debt advisers to explore refinancing options amid financial difficulty.
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The government dashed hopes of a cut to alcohol duty following the announcement of the Spring Budget today (6 March) by chancellor Jeremy Hunt.
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Soaring alcohol inflation has made an explosive hole in HMRC’s receipts, new figures reveal.
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Accolade Wines, Australia’s second-largest producer, has been taken over by a consortium of investors led by Bain & Co, the US-based management consulting company.
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Billionaire restaurateur Richard Caring has put his £1bn stake in The Ivy and its spin-off restaurants up for sale.
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Mixer producer Fever-Tree saw its total revenue rise by 6% in the year-end 31 December 2023, a figure below market expectations.
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Drake and Morgan, operator of 17 premium bars and restaurants in London and Manchester, has announced record festive trading with like-for-like sales up 31.7% against the same period in 2022 (4 weeks to 31 December 2023).
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Le Comité Interprofessionnel du vin de Champagne (CIVC), the organisation grouping the actors of Champagne production and trade, has revealed that total Champagne shipments in 2023 were down 8.2% to 299m bottles.
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Despite record spend on groceries during Christmas in UK supermarkets, sales of beer, wine and spirits were all in decline over the same period.
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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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