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Pernod Ricard

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business1 month ago

Pernod Ricard Sales Fall 3.9% as US Demand Slumps and Iran Conflict Lingers

French spirits giant Pernod Ricard reported a 3.9% drop in full-year net sales, citing weak demand in the US and China alongside a negative currency impact. The company lowered its organic growth guidance for 2027-2029 to the lower end of its 3-6% range. Meanwhile, oil prices fell as Oman and Iran discussed reopening the Strait of Hormuz, though analysts warn the conflict remains unresolved. In Asia, South Korea raised interest rates for a second consecutive time to 3% to combat inflation, while China’s industrial profit growth slowed to 11.2% in July. Nvidia shares jumped after beating earnings expectations and detailing a massive CPU and GPU deal with Amazon.

via CNBC|
#business#china-economy#nvidia
Small Bottles, Big Buzz: The Boom in Booze Minis
business2 months ago

Small Bottles, Big Buzz: The Boom in Booze Minis

Spirits brands are pushing smaller bottle formats (50–100 ml minis and 375 ml sizes) to cater to budget-conscious, on-the-go consumers, with Pernod Ricard, Patrón, Bacardi, Skrewball, Absolut, and Kendall Jenner’s 818 Tequila rolling out new minis. The trend aims to maintain brand presence while offering affordability and trial opportunities, even as US sales face headwinds for some players. Minis let consumers sample premium flavors without committing to larger bottles, signaling a fast-growing packaging trend in the alcohol industry.

via CNN|
#business#mini-bottles#packaging-trends
Brown-Forman and Pernod Ricard Explore a Merger-Style Partnership
business6 months ago

Brown-Forman and Pernod Ricard Explore a Merger-Style Partnership

Brown-Forman confirms it is in discussions with Pernod Ricard about a potential merger-of-equals-style partnership. If agreed and subject to customary approvals, the deal would create a global spirits leader with enhanced scale, a strong brand portfolio, and a balanced geographic footprint; no terms have been reached and there is no guarantee a transaction will occur. Brown-Forman will not comment further unless an agreement is reached.

via Brown-Forman|
#brown-forman#business#merger-discussions
India's Homegrown Single Malts Disrupt Pernod and Diageo
business2 years ago

India's Homegrown Single Malts Disrupt Pernod and Diageo

India's growing love for homegrown single malts is shaking up the $33 billion spirits market, with local brands like Indri, Amrut, and Rampur gaining popularity and competing with established global brands like Glenlivet and Talisker. Factors such as global awards, increased affluence, and the COVID-19 pandemic have contributed to the boom in India's whisky landscape. In response, Pernod Ricard and Diageo have launched their own Indian single malts, recognizing the potential of the Indian whisky market. Indian single malts have seen a significant surge in growth, outpacing Scotch, and are predicted to continue growing in consumption.

via Reuters India|
#business#diageo#india
"Absolut Vodka and Sprite team up for canned cocktail, expanding Coca-Cola's ready-to-drink alcohol offerings"
business3 years ago

"Absolut Vodka and Sprite team up for canned cocktail, expanding Coca-Cola's ready-to-drink alcohol offerings"

Coca-Cola and Pernod Ricard are partnering to launch a new ready-to-drink cocktail featuring a mix of Absolut Vodka and Sprite. The canned cocktail will be available in two versions, with Sprite and Sprite Zero Sugar, and is set to debut in select European countries in early 2024. The popularity of canned cocktails has been on the rise, with ready-to-drink beverages being the fastest-growing spirits category in terms of revenue and volume. The announcement did not mention a specific timeline for the U.S. market. This collaboration expands Coca-Cola's alcoholic beverage portfolio, following the success of their Jack-and-Coke cocktail in a can.

via CNBC|
#absolut-vodka#business#coca-cola
Pernod Ricard to Exit Russian Market, Halts Exports
business3 years ago

Pernod Ricard to Exit Russian Market, Halts Exports

Pernod Ricard has announced that it will no longer export or distribute any of its brands to Russia following public pressure over its business activities there. The decision comes after the company had continued to trade in Russia despite calls for a boycott. The move represents a U-turn from management and will take some months to complete. Other Western companies have also pulled out of Russia following the Kremlin's invasion of Ukraine in February 2022.

via The Moscow Times|
#boycott#business#exports
Export Halt: Absolut Vodka Suspends Shipments to Russia Amid Outcry.
business3 years ago

Export Halt: Absolut Vodka Suspends Shipments to Russia Amid Outcry.

Pernod Ricard has suspended exports of its Absolut vodka to Russia entirely, citing a "duty of care towards our employees and partners" after reports that it was supplying products to support local entities. The French spirits group had previously reduced sales following Moscow's invasion of Ukraine. Pernod had been able to shield its local team from accusations of criminal liability by limiting supply. However, the move will not prevent Absolut from falling into the hands of the "parallel market," which has strongly increased in recent months and over which Pernod has no control.

via New York Post |
#absolut-vodka#business#exports
business3 years ago

Pernod Ricard's Absolut vodka exports to Russia halted after backlash.

Pernod Ricard, the French drinks company, has announced that it will stop exporting Absolut vodka to Russia following an outcry in Sweden over the brand's use in a Russian propaganda campaign. The move comes after Swedish officials raised concerns about the use of Absolut in a video promoting the Russian military. Pernod Ricard said it would continue to sell Absolut in Russia, but would no longer export the brand to the country.

via Financial Times|
#absolut-vodka#business#exports
Absolut Vodka ceases exports to Russia amidst controversy.
business3 years ago

Absolut Vodka ceases exports to Russia amidst controversy.

The Absolut Company, the maker of Sweden's Absolut vodka, has announced that it is suspending all exports to Russia after calls to boycott the brand flared up in Sweden and on social media. The decision sparked massive criticism, including from prominent politicians in Sweden, and several well-known bars and restaurants in Stockholm stopped selling Pernod Ricard products. Absolut's owner, Pernod Ricard, had earlier resumed some exports to Russia, after previously halting them in March 2022 following Russia's invasion of Ukraine.

via Al Jazeera English|
#absolut#boycott#business
Absolut Vodka Suspends Exports to Russia Amid Backlash.
business3 years ago

Absolut Vodka Suspends Exports to Russia Amid Backlash.

Absolut Vodka, owned by Pernod Ricard, has stopped exporting its products to Russia again after a backlash in Sweden. The company initially halted exports in March 2022 after Russia invaded Ukraine, but some exports had resumed, sparking fury. Pernod Ricard said it was exercising its "duty of care towards our employees and partners" and could not expose them to criticism. The move comes after top bars and restaurants in Sweden pulled the drink from their shelves, and politicians condemned its export, following media reports it was being sold to Russia.

via BBC|
#absolut-vodka#business#export
Absolut Vodka ceases exports to Russia amidst controversy.
business3 years ago

Absolut Vodka ceases exports to Russia amidst controversy.

Absolut Vodka, owned by French liqueur company Pernod Ricard, has suspended all exports to Russia after facing calls for boycotts in Sweden. Pernod Ricard had resumed some exports to Russia in April 2022 after halting them in March following Russia's invasion of Ukraine. The decision to resume exports was made to protect staff in Russia from criminal liability, but it sparked criticism and boycotts in Sweden. Absolut's CEO said the company cannot expose its employees and partners to massive criticism and acknowledged the significance of its relationships with the Swedish community.

via The Moscow Times|
#absolut-vodka#boycott#business