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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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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