It took him a long time to reel in his trophy, but it looks as though Russian alcohol and finance magnate Roustam Tariko has finally landed Poland’s Central European Distribution Company, a leading regional vodka producer.
In an announcement on Monday, Nasdaq-listed CEDC said that it was going into Chapter 11 proceedings which will result in Tariko’s Roust Trading owning all the shares of the reorganised company. Continue reading »
By Irene Madongo and Rob Minto
When it comes to new markets for top-class wines, most people tend to think of China buying up France, by the bottle and by the vineyard.
So when it comes to champagne, where are the big growth markets? The Brics? To an extent, yes. But there is one country high on the list that might surprise: Nigeria, which is expected to see the second biggest increase in sales volume over the next five years. How come? Chart of the week takes a look. Continue reading »
With confidence tanking across western economies, it’s no surprise that the world’s biggest consumer-facing industries have been looking elsewhere for growth. And it was more of the same for Diageo on Thursday, as it announced that its strongest sales and profits increases for the last half year came from developing countries.
The maker of Baileys and Guinness saw global sales grow 5 per cent to £6.04bn over the second half of 2012, with operating profits up 11 per cent to £2.05bn. But its fastest growth rates came from Africa and Latin America, as emerging consumers pour back its international spirit and local beer brands. Continue reading »
This should be the time to ramp up sales of whisky to South Africa. The country has an expanding middle class and a taste for the drink, as well as a fondness for premium brands.
Instead, Scotch whisky exports to the country are dropping, and it’s domestic producers that are taking market share. Continue reading »
Strong sales in emerging markets have propped up SAB Miller’s profits – again – despite the slowdown in the global economy and unfavourable foreign exchange and input costs.
The question is how long will it last? Continue reading »
It looks like Vijay Mallya may finally have been thrown a lifeline for his embattled Kingfisher Airlines. But will it be enough?
After four long years of discussions, rumours and speculation, Diageo, the world’s largest spirits company, agreed on Friday to buy a 53.4 per cent stake in his flagship United Spirits for more than $2bn. The attraction is obvious: Diageo gains great access to India’s 1.2bn consumers and the world’s biggest whisky market. But for Mallya, the stakes are even higher. Continue reading »
Diageo, the drinks producer behind brands such as Smirnoff and Johnnie Walker, is booming in emerging markets. Q1 sales growth figures, reported on Wednesday, show an expansion of 16 per cent in Latin America and the Caribbean, and 11 per cent in Africa. Continue reading »
The Czech Republic is scrambling to save its hard liquor sales after tainted alcohol killed more than 20 people, imposing an export ban just ahead of probable EU action and promising to set up a new regulatory regime to ensure that future sales will be safe.
The measure was imposed on Thursday evening by the Czech health ministry, adding to a ban on domestic sales of liquor that contains more than 20 per cent alcohol imposed last week and bans of sales of Czech alcohol in Poland and Slovakia after people were sickened and killed by drinking spirits from the Czech Republic. Continue reading »
First there was the Bordeaux bubble. Then came Moutai mania. What drink will next take China’s nouveau riche by storm?
Perhaps nothing more exotic than a good pint of beer. But there is one caveat – it will help to have snob appeal, according to a study published this week by market research group Mintel. Continue reading »