Tequila Trouble? Exports Fall 4.2% in 2023 As Top End Slowed
Tequila exports dipped last year for the first time since 2009, just as the higher end segments driving years of double-digit growth began to lose steam.
Tequila exports dipped last year for the first time since 2009, just as the higher end segments driving years of double-digit growth began to lose steam.
Revenue from the spirits and cognac segment of LVMH fell 10% in 2023 as demand for Hennessy continued to wane in the U.S. and China, according to the company’s full year revenue earnings report released today.
For decades, the Japanese distilled beverage shochu has been mislabeled in the U.S. as Korean soju, but a new law is clearing up the difference for consumers— and clearing a path for category growth.
Former Patrón Tequila founders and Southern Glazer’s Wine and Spirits (SGWS) leadership have teamed up to launch a Texas-based spirits company, slated to introduce its debut product in April.
U.S. craft spirits topped $7.9 billion in sales in 2022, growing 5.3% in value and 6.1% in volume, but slowed considerably from the year prior, according to a new report.
After nearly nine months of an ugly public legal battle, Sean “Diddy” Combs and Diageo have settled disputes over allegations from the music mogul that the brands he collaborated with Diageo on— Cîroc Vodka and DeLeon Tequila— received worse treatment because of his race.
Uber has decided to shut down Drizly just three years after acquiring the alcohol e-commerce delivery platform for $1.1 billion, Axios reported today.
Off-premise spirits sales hit $21.1 billion in 2023 according to market research firm NIQ. Spirits dollars, excluding ready-to-drink cocktails, remained flat with volume down, showing the significant contribution of canned cocktails to the category.
As 2024 revs up we chatted with BevAlc lawyers about what regulations have been hot topics amongst suppliers in the last year and what updates the industry is anxiously awaiting.
We chatted with co-founder Moises Guindi and master distiller Ivan Saldaña about what guides their innovation strategy, where they see opportunity beyond agave spirits, and why they don’t let category structure influence their releases.
Total BevAlc sales growth decelerated slightly during the two-week period that ended December 30, with volume performance slightly more negative on a sequential basis across beer, wine, spirits and cider, and less positive for hard seltzer and FMBs, according to an analysis of NielsenIQ data by Goldman Sachs Equity Research.
In the midst of Dry January, leading non-alc retailer Boisson has announced it is expanding its national wholesale business.
In a move that confirmed growing consumer thirst for what was once a niche spirit, last year the U.S. Tax and Trade Bureau (TTB) announced that it is on the cusp of releasing an official definition of American single malt whiskey, the first new spirit category to be defined in several years. As producers await the official standard, we checked in with several leading brands about what it means and what comes next.
What core drivers are BevAlc experts watching in 2024? We checked in with a data analyst, consultant and major retailer buyer on their outlook, including what investors will be looking for, where there might be white space in hot categories, and how retailers are making buying decisions.