Global Exports of Scotch Whisky Reached £5.6 billion in 2023

The Scotch Whisky Association (SWA) has released its annual report showing global export figures for the value and volume of Scotch whisky. The 2023 figures reveal that the value of Scotch exports reached £5.6 billion in 2023, while the equivalent volume of 1.35 billion 70cl bottles of Scotch were exported.

2022 has been described as a “bumper year” for Scotch whisky global exports. Last year’s report showed global Scotch exports topping £6 billion for the first time, attributed to the post-pandemic re-opening, and restocking of markets and full return of global travel retail in 2022. In comparison, the SWA says the 2023 numbers are a “more normalised depiction” of the current market.

The largest region by value in 2023 remained Asia-Pacific, which climbed above the EU in 2022. The figure was supported by record exports to China, where the market is up 165 per cent on 2019. Despite a fall of 7 per cent on its 2022 global export value, and a fall of 9 per cent on the figure from 2019, the United States remained the most valuable individual market for Scotch exports.

The biggest market by volume was France, which overtook India despite falling behind the other country in 2022. India is a “priority growth market” according to the SWA, which has called for a trade agreement to lower the tariff on Scotch imports into India.

Mark Kent, chief executive of the SWA, said: “Scotch whisky has once again shown its export strength despite significant challenges across a volatile global trading environment. The figures demonstrate that Scotch whisky brands and distilleries are investing in their teams, their tourism offering, their long-term sustainability, and their global presence to ensure that Scotch continues to be the world’s favourite whisky.

“We know that the Scotch whisky industry is remarkably resilient as we look at these numbers against the backdrop of rising costs for consumers and businesses, but the figures are a reminder once again that the Scotch Whisky success story cannot be taken for granted. We need to see more tangible support from government both at home and in our priority markets in order to continue to grow our export numbers, and the resultant investment, employment and economic benefits that come with that.

“A cut to spirits duty in the Spring Budget would be a step in the right direction, giving the industry platform at home to push forward with international growth. Government must also do away with any notion of restricting the marketing of Scotch whisky in Scotland, which would have a significant and lasting impact on the industry’s ability to generate future growth.”

UK government minister for exports Lord Offord added: “Scotch whisky is a major UK exporting success story contributing billions of pounds to the economy and supporting thousands of jobs.

“We want the UK to be an export-led economy and reach a trillion pounds of exports a year by 2030. It’s fantastic to see whisky exports in 2023 continuing to outperform pre-pandemic levels as businesses take advantage of our free trade deals and expand into new markets around the world.”

Campari Buys Courvoisier from Beam Suntory for $1.2 Billion

Italy’s Campari (CPRI.MI) on Thursday agreed to buy historic French cognac house Courvoisier from Beam Suntory for $1.2 billion, marking a big push into brandy with Campari’s biggest acquisition on record.

The purchase of a top four cognac brandy is the crowning achievement for Chief Executive Bob Kunze-Concewitz, who is due to leave next year after steering Campari through a long list of deals, including the purchase of Grand Marnier for 490 million euros in 2016.

“Christmas came early for Campari this year,” Kunze-Concewitz told analysts.

The deal will strengthen Campari’s presence in the United States, which accounts for 55% of Courvoisier’s sales, and offers transformational potential in the Asia Pacific region – also a large cognac market, led by China.

The deal is expected to boost Campari’s net sales by around 9%, Kunze-Concewitz told analysts, adding that it was also a rare opportunity to expand the company’s premium spirits portfolio and its production and bottling capacity in France.
“Clearly this is a brand which fits into our playbook, and we expect to relaunch and grow it substantially as we’ve done with some of the other brands,” Kunze-Concewitz said. “With our marketing model we can get this brand to perform at a really different pace.”

Sales at Courvoisier, founded in 1828, declined 33% in the 10 months to Oct. 31 versus a year earlier, Campari said. It said the reasons were slowing U.S. sales after post-COVID peaks and the process of de-stocking by wholesalers that had filled their warehouses excessively.

The deal, expected to close in 2024, envisages an additional earn-out of up to $120 million, to be payable in 2029, Campari said in a statement, adding that it would fund the acquisition via a mix of debt, cash and equity or equity-like instruments.
It has secured from a group of banks a fully committed 1.2-billion-euro bridge loan with a duration of up to 24 months and will monitor markets for possible issuance.

Source: Reuters

Buckingham Palace launches Coronation “Royal Windsor Pink Gin”

Royal Collection Trust, a department of the Royal Household, has launched a pink gin, infused with raspberries grown around Windsor Castle, with a mix of sweet and fragrant botanicals.

The “Royal Windsor Pink Gin” is spiced with piquant pink peppercorns and warming cassia bark, along with orange peel and rose petals that add a subtle sweetness. The hand-picked raspberries from across the Royal Estate in Windsor were infused into the spirit, lending the gin a fruity finish and vibrant pink hue.

The royal gin pairs beautifully with ginger beer for a fiery twist on the classic Gin and Tonic. Garnished with fresh raspberries and orange peel, this rosy tipple will make the perfect accompaniment to Coronation celebrations in May!

All profits from sales go towards The Royal Collection Trust, a registered charity, and help fund the care and conservation of the Royal Collection, and access to the Collection through exhibitions, publications, loans and educational programs.

Royal Windsor Pink Gin can be purchased online from Friday, 17 February from http://www.rct.uk/shop at £38.00 and is available from Royal Collection Trust shops.

“A tipple fit for the King’s Coronation!”

Source:  Royal Collection Trust

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CGA’s December’s “US Consumer Impact Report” reveals that bars and restaurants are essential for driving awareness of drinks brands

CGA by NielsenIQ’s latest consumer research reveals that bars and restaurants are essential for driving awareness of drinks brands, with 61% of consumers more likely to look for new brands in the on premise as opposed in stores and 54% stating they’ve made an in-store purchase of a brand that they first tried in the on premise.

CGA’s Consumer Impact report highlights 1,600 consumer behaviors across Florida, Texas, California and New York. The latest research highlights that the frequency of visits to the on premise have remained stable, with 4 in 5 consumers visiting bars and restaurants 3 or more times in the last three months. Plans for visiting also remain very positive with around 73% of US consumers planning to go out in the next weeks.

Consumers continue to seek out new experiences in bars and restaurants, with consumers more likely to first try a new Spirits or Beer brand in the on premise over an in-store purchase – underlining how important venues are in building brand awareness and encouraging trial.

Trial of new drinks brands in bars and restaurants is highly likely to compel consumers in their purchasing decisions in the off premise too – with 54% of consumers agreeing they have made a purchase in store of brands that they first tried in the on premise. 3 in 5 consumers also agree that they are likely to look for new brands in store if they’ve already tried them at a bar or restaurant.

Not only are on premise purchases informing in-store buying behaviors, they also help to build loyalty – with two thirds of consumers agreeing that if they try a new brand they like in a bar or restaurant, they will continue drinking it on subsequent visits.

Ahead of the holiday season, two thirds of US consumers are planning to visit the on premise throughout this period, with 3 in 10 planning to visit on New Year’s Eve specifically. These consumers are planning to visit a range of food- and drink-led venues, with neighborhood bars, fine dining and sports bars leading the list of most popular venues, while beer is the drink of choice for New Year’s Eve.

Moving into the new year, almost 2 in 5 US consumers predict they will visit the on premise more or much more often than they did in 2022, while half plan to maintain their current frequency of visitation. A third of consumers predict their spend in bars and restaurants will increase over the next 12 months, with 2 in 5 consumers willing to spend more for better quality drinks compared to 2022 – providing significant opportunities for premium drinks brands.

Source: CGA Strategy

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2023 Women’s Wine & Spirits Awards London/Hong Kong

I’m so thrilled to be associated with this organization, and to be “nominated” to be a judge for the 2023 Women’s Wine & Spirits Awards London/Hong Kong.

The organizers state: “Your work in the industry is recognized by the Women’s Wine & Spirits Awards™”

The judging date is November 11th, 2023 and the wines and spirits will be judged by some of the world’s most influential female wine marketers, buyers, retailers, and sommeliers.

The wine business has discovered the exciting importance of women consumers.  Some facts:

  • 80%of wine is purchased by women (Women and Wine Study, Vinexpo)
  • Over 60% of wine is consumed by women (Women and Wine Study, Vinexpo)

#wwsa #womenswineandspiritsawards #wineawards #awards #women #womenbuyers #winetasting #womeninwine #womenspirits #wines #instawine #winejudge #winetime #winelife #winelovers #womeninwinebusiness #winetrade #winenews