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The week that was

Top Stories: Wholesaling giant Conviviality crashed into the news in spectacular fashion Wednesday when the company hit its first major stumbling block since first being floated on the AIM back in 2013.

Following a profit warning last week, the Bibendum and Matthew Clark owner suspended its shares after it was revealed that an error in financial forecasts resulted in a “short term funding requirement” and an unexpected tax bill to the tune of £30m.  

Supply of Australian bulk wine meanwhile also looks to be heading into difficult territory, with increasing demand from China helping to squeeze supply of commercial grapes.

Finally, a theme focusing on the UK ran throughout the week, with Brit company Fever-Tree keeping itself sharp with innovation, a new marketing body for Sussex producers and the new Wine GB logo continuing to stir up debate.

• Conviviality shares suspended
• China to squeeze bulk supply of Australian red to critical levels over next 3-5 years
• Tim Atkin MW: State of the Union Jack
• Sussex Wineries launch to boost marketing and tourism
• Fever-Tree continues to lead the premium pack by adapting to low-cal and dark spirits trends
• Hardys and Echo Falls achieve ‘Superbrands’ status for the third time

Analysis and Insights: Some unexpected trends were revealed in the latest research from Wine Intelligence, which delved into the changing patterns of global wine buying and consumption.

Buying approaches for the year ahead were also on the agenda this week, with a report from our on-trade panel discussion at our Spring SITT event delving into an increasingly demanding and changing sector.

Plus, we spoke to Mark Riley, CEO of the newly named Edrington-Beam Suntory on the decision to re-brand as the spirits owner aims to clarify its market position.

• Shifting consumer mores
• Buying Clever 2018
• Maxxium UK rebrands in a bid to clarify market position

People and Opinion: “Rowan is no mug” says Guy Wooward in his column on Harpers.co.uk this week.

But while Woodward speaks highly of Majestic CEO Rowan Gormely’s knack of building locally minded, autonomous stores on the nation’s high streets, he also takes the retailer to task for increasingly dumbing down the offer and playing it too safe.

We also caught up with Andrew Baker at Virgin Wines as part of a meet the buyers focus on wine buying online.

• Guy Woodward: Lobbing grenades at Majestic 
• Meet the buyers: Andrew Baker, wine buying director, Virgin Wines