Dear Client: Amidst tough comps, Campari Group grew global organic net sales 0.2% for the first quarter of fiscal 2024, driven primarily by aperitifs and strong growth from Espolon in the US market.  Organic net sales were up almost 20% for the first quarter of fiscal 2023, Campari Group ceo Matteo Fantacchiotti reminded listeners on … Continue reading “Campari Sees Flattish Q1 Growth on Top of Tough Comps”

Dear Client: The Diageo North America leadership team is getting a change-up, WSD has learned. Current president, US spirits Gregorio Gutierrez is leaving the company to pursue other career opportunities. Taking his place is current president, reserve & new business commercialization Stephen Rust, per an internal announcement.  Gregorio has been with Diageo since 2007, leading … Continue reading “Diageo Names New President, US Spirits”

Dear Client: There’s been a lot of discussion in recent years around consumers drinking less– particularly younger consumers– leading to the better-for-you trend including growth in the no & low alc segment. But just how much of an impact is the moderation trend having on bev alc industry volume growth? A recent note from Bernstein … Continue reading “Bernstein: Why You Shouldn’t Really Worry that Younger Consumers are Drinking Less”

Dear Client: There’s no question that we’ve seen a lot of shifting dynamics in the industry over the last several years. And what’s top of mind now is whether we’re seeing a normalization or if we’ve reached a tipping point. During a recent webinar hosted by Provi in partnership with SevenFifty Daily, a group of … Continue reading “Industry Analysts Talk Shifting Bev Alc Dynamics”

Dear Client: The Duckhorn Portfolio today announced that current interim chief Deirdre Mahlan has been appointed president, ceo & chairperson, effective immediately.  You may recall, Deirdre took on the interim leadership role in September following the retirement of long-time chief Alex Ryan [see WSD 09-27-2023].  In the last six months the board conducted an internal … Continue reading “Duckhorn Names Interim Chief Deirdre Mahlan as Permanent CEO”

Dear Client: The US Drug Enforcement Administration (DEA) is set to reclassify cannabis from a Schedule I to a Schedule III drug, according to people familiar with the matter, reports The Associated Press.  HOW WE GOT HERE. The rescheduling process kicked off in the fall of 2022, when the Biden Administration announced a multi-pronged plan … Continue reading “Report: DEA Will Move to Reclassify Cannabis”

Dear Client: The direct-to-consumer wine shipping channel has been down the last couple years. But in Q1 wine DTC net sales are “stabilizing,” according to Enolytics co-founder and ceo Cathy Huyghe.  Cathy shared a first look at Enolytics DTC Q1 data during a webinar hosted by Provi and SevenFifty Daily late last week.  “Overall, cases … Continue reading “DTC Wine Trends “Stabilizing” in Q1″

Dear Client: Remy Cointreau ended its fiscal year with global sales down 19.2% on an organic basis, partially thanks to continued weakness in the US market. In Q4, global sales were flattish, down 0.7%.  Overall, sales fell in line with expectations, coming in at the lower end of the -15% to -20% guidance for the … Continue reading “Remy in Need of a “Spark” to Drive US Recovery”

Dear Client: Cuervo kicked off its fiscal year with solid improvement in the US & Canada, but that growth was offset by declines in Mexico and the rest of the world. Cuervo’s total volumes were down 4.4% and net sales were down 6.5% for the first quarter ended March 31.  A NEW CFO. Before we … Continue reading “Tequila, RTDs Drive Improvement for Cuervo’s Q1 US Results”

Dear Client: At the end of last month, Uber officially shut down the Drizly app, just a few years after the tech giant acquired the platform for $1.1 billion [see WSD 01-17-2024]. Rabobank analyst Bourcard Nesin recently published a report breaking down the decision to decommission the Drizly platform. WSD caught up with Bourcard to … Continue reading “Taking a Closer Look at the Drizly Shutdown”

Dear Client: Tennessee-based whiskey company Uncle Nearest is valued at more than $1 billion with a four-year CAGR at more than 350%.  Uncle Nearest founder and ceo Fawn Weaver was the keynote speaker yesterday at the Craft Brewers Conference in Las Vegas, sharing her story and growth ambitions. Fortunately for us, our colleagues at sister … Continue reading “Uncle Nearest CEO Aims to Build “Spirit Conglomerate,” Hints at Tequila Acquisition”

Dear Client: The softness we saw in bev alc trends in 2023 is leaking into 2024, with lackluster Q1 results. But there’s reason to hope for gradual recovery as we move through the year.  Your editor pinged a few wine and spirits distributors to get a better read on Q1 performance as well as their … Continue reading “Distribs Report Soft Q1, But Prepping for Gradual Recovery”

Dear Client: There have been quite a few retailer shipping cases filed in a handful of states in recent years, and now Arizona is dealing with more than one.  BRIEFING COMPLETE IN APPEALS COURT. Before we get to the latest lawsuit, here’s a quick update on the one already winding its way through the court … Continue reading “AZ Now Defending Against Multiple Retailer Shipping Cases”

Dear Client: In 2023, there were quite a few big wine deals, including Ste. Michelle Wine Estates sellingStag’s Leap to Antinori, Gallo picking up both Rombauer and Hahn Family Wines, and Duckhorn acquiring Sonoma-Cutrer.  These big deals “were shifting around market share for some of the bigger players,” according to Zepponi & Co. principal Mario … Continue reading “What Factors are Shaping Wine M&A Trends”

Dear Client: Yesterday, we published the first part of our interview with Westward Whiskey ceo and co-founder Tom Mooney about how his organization has developed over the last 20 years [see WSD 04-16-2024]. We wondered, though– how has the craft spirits industry at large changed over the same period from his perspective? YESTERDAY’S PROBLEMS ARE … Continue reading “Assessing a Changing Craft Spirits Landscape”