The wine world needs to let go of its obsession with China, and stop believing that the market can solve all its problems, according to Margareth Henriquez., chief executive of Krug, the top branded Champagne house.
Conviviality Retail, owner of Bargain Booze and Wine Rack, is launching BB’s Warehouse, a new drinks store focused on multibuy and bulk discounting.
High street chain Oddbins is planning to kick off its franchised model by converting around 26 independent wine merchants to the company fascia.
Louis Vutton Moët Hennessy (LVMH) stock price is taking a hit as financial markets react to the conglomerate’s half yearly results announced at close of business yesterday. This morning the stock was trading 6.12% lower, down from yesertday’s close €141.25 per share to €132.75 (Bloomberg).
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Insights & Analysis
It’s good news for the wine and spirits trade as the UK is set to be the fastest growing major advanced economy in 2014, according to Euromonitor’s mid-year global economy update, which should boost consumer spending.