Wine Economics Archives

Women in Wine Talks: Leadership in Challenging Times with Maggie Henriquez, President and CEO of Krug Champagne – June 23, 2020 1:00 pm EST

I’m extremely proud to host our upcoming “Women in Wine Talks” with Margareth Henríquez, President, and CEO of Krug Champagne on June 23. Maggie is someone truly whom I respect and admire as a woman, mother, (now grandmother), and business leader whom I’ve met on many occasions in Paris and Reims.

Here are the details on her upcoming leadership talk:

Join us June 23rd 2020 1:00 PM Eastern Time (US and Canada) for an exclusive in-depth conversation with Maggie Henriquez, President & CEO of Krug Champagne. Ms Henriques will share her personal strategies for success in challenging times!

Les Dames d’Escoffier Ontario (Canada) is proud to host “Women in Wine TalksTM” as an online platform to raise awareness of women in the wine industry to impact positive change. We shine the spotlight on global women business leaders, winemakers, authors and industry experts.

CONCEPT

Women in Wine TalksTM are inspiring conversations, virtual wine- tastings and panel discussions with wine industry experts. “Memorable and Elevated Virtual Experiences.”

Next up:

Women in Wine Talks with Margareth (Maggie) Henriquez Ph.D., President & CEO, Krug Maison de Champagne, and President, LVMH Estates and Wine Division

“The Turnaround CEO”

Maggie Henriquez needs little introduction. She is an extraordinary speaker and inspirational leader, is incredibly dynamic and a visionary. Maggie is the President and CEO of Krug Maison de Champagne and President of LVMH Estates & Wine Division. She will not only capture your heart; she will fully engage your mind with her talk on Leadership in Challenging Times.

Registration details:

June 23, 2020 1:00 PM Eastern Time (US and Canada)

To register in advance for this Women in Wine Talk:

https://www.eventbrite.ca/e/leadership-in-challenging-times-with-maggie-henriquez-ceo-of-krug-champagne-tickets-109305076426

L’uva Bella, Ohio’s Largest Winery Acquired by Millennial Investors

L’uva Bella, the largest winery by volume in the state of Ohio, has been acquired by Marisa Sergi, 26, and Evan Schumann, 25, through their investment fund, S’quared Holdings.

The winery, based in Poland Township, primarily produces bulk wine for private label and retail channels. It also makes a range of grape and other fruit juice products.

The financial details of the transaction have not been disclosed, but the price paid by S’quared Holdings is believed to be “in the mid seven-figure range”.

The winery was founded 15 years ago by Sergi’s father, Frank. Marisa is a third-generation winemaker and already produces wine under the RedHead Wine label, which is distributed in Ohio, West Virginia and Pennsylvania, with plans to also launch in Kentucky, Virginia and Tennessee.

She said she hopes to add further product lines to the winery’s range, as well as branch into organic wine and extend distribution into five to 10 more states.

“We’ll also be implementing innovative partnerships and plan to hire six to 15 more people in the next three to five years,” she said. “We are willing to bet on ourselves, our team, and our community despite the challenging current environment. We believe we can build a bright and prosperous future for our company and our employees by continuing to produce great products and to go above and beyond to make our customers happy.”

Her business partner, Evan Schumann, studied entrepreneurship and finance at university and is member of the fifth generation of his family’s business, Ohio-based metal refinery Schumann & Co. He is the founder of Zitek Corporation and management consulting firm Matrix Growth Ventures, and has also worked for Magnus International and PrintCB.

Source: Drinks Business and L’uva Bella

WBWE Asia Launches Virtual Wine Exhibition July 12-13 in Yantai

The World Bulk Wine Exhibition, WBWE Asia has just launched a virtual wine exhibition, which will include an online trading system in which wineries will establish direct contact with buyers.

How it will work

The technology-based communication system will allow wineries to close deals without being in person at the trade fair. Wines will be shipped to China as usual and displayed with a promotional stand, material and staff representing the winery. Chinese buyers and merchants will be able to taste the wine and can ask winery managers any further details via WBWE Asia’s virtual system.

WBWE will be inviting buyers, purchasing managers, consultants, managers, merchants and the media to the fair on 12-13 July in the city of Yantai. All attendees will receive a list of those exhibiting before the show starts.

Winery managers who are unable to travel to the exhibition can instead “virtually attend”.

The statement noted: “Winery managers will be able to do business from their offices or their place of origin, whilst virtually attending the fair with the same trading warranty as if they were in China.

“Right now, it is too soon to be certain that the fairs of the future will follow this route, yet we cannot afford to run the risk of stopping exports while we wait to see what unfolds.”

“WBWE Asia ensures that your winery is accurately displayed and that your wines are available to be tasted by an important portfolio of buyers and distributors from China, whether you can attend the fair in person or via the internet.”

WBWE Asia noted that the bulk wine market was helping the Chinese market to recover from Covid losses. Imports of bag-in-box (BIB) to China rose from 1.12 million litres to 1.14 million litres in the first quarter of 2020.

World Bulk Wine Exhibition ASIA Website wbweasia.com

Southern French Wine Regions Announce €34M Recovery Plan

At a press conference May 29, members of the southern French wine industry agreed on a comprehensive plan which will aid the sector following the coronavirus disruption.

The “unprecedented” scheme aims to safeguard jobs, boost sales and help the region and its wine producers regain market share over the next 18 months.

Furthermore, it intends to help companies develop multi-year trading partnerships, increase the rate of premiumization in the wines, and safeguard the production of the region’s distinctive dessert wines (vins doux naturels).

The scheme has the backing of the regional council, regional business and marketing boards, wine industry trade unions, the regional Chamber of Agriculture and wine trade bodies including Inter Oc (Interprofessional Council of wines from the Pays d’Oc), IVSO (Interprofessional Council of Wines from the South West of France), CIVL (Interprofessional Council of Languedoc Wines), CIVR (Interprofessional Council of Roussillon Wines) and the Gardoise, part of Inter Rhône.

A total of €14 (€7m each) will be coming from the Regional Council of Occitanie and business and marketing boards.

Support will be given to companies to assist them with their marketing expenses, including participating in trade fairs, while €0.5m will also be allocated towards a campaign promoting the region’s wines. 80% of the budget (the €14m) will take the form of direct aid for businesses.

A further €20m will come from wine trade bodies. Inter Oc is contributing €14m, while the CIVL, CIVR and IVSO are each giving €2m to the cause.

The recovery plan will be presented to the vote of regional elected representatives in July.

Languedoc winemaker, Gérard Bertrand, said: “The region and all the players in the Occitanie wine sector have come together and mobilized to collectively build a stimulus plan of unprecedented scale in France with regards to the resources that have been contributed.

“With direct aid for wine companies, in particular for marketing, collective actions and promotion, we are ready to act on all fronts: to secure jobs, promote local development of activities and stimulate the reconquest of markets in France and internationally.”

In addition to national government schemes, the region has been supported by a number of measures during the Covid-19 crisis. Wine firms have been able to take advantage of the Fonds de Solidarité Régional (Regional Solidary Funds) which gives aid to businesses who have not had access to a state-guaranteed loan (PGE). Companies have also been given extensions, postponements or exemptions from loan repayments. In addition, the Solidarité Alimentation Occitanie, launched in March, has helped promote local deliveries in order to for the economic activity in the region to be maintained.

Occitanie is the administrative region formed in 2016 from the merger of the Languedoc-Roussillon and Midi-Pyrénées regions

It comprises over 270,000ha, producing 14m hectolitres of wine, and boasts 93 appellations including 59 PDOs. It is viticulturally diverse, with some 150 native and international grape varieties grown. Around 22,600 wine-related companies operate in the region – employing 100,000 people – with a turnover of €1.3 billion. Wine grapes represent 20% of agricultural production in the region (in 2017) and wine worth €925m was exported in 2018.

Sources: Drinks Business and the Regional Council of Occitanie

Millennials are vital to Champagne’s future

“Millennials are vital to Champagne’s future… because they are willing to look beyond the ‘just for celebrations’ mantra,” states Françoise Peretti, Director of the UK’s Champagne Information Bureau.

Millennials are deemed to be more digitally connected and open-minded than baby boomers.

Peretti further stressed the need to attract a younger generation of drinkers, and the potential demand among “open-minded” millennials.

“Unlike the Baby Boomers, they are open-minded consumers, willing to look beyond the ‘just for celebrations’ mantra,” she said of the age group, which covers those people from their early 20s to late 30s.

“This is their most important attribute: a desire to embrace the idea that Champagne can be a drink for the weekend, not simply New Year.”

Mentzendorff’s Andrew Hawes, who is the current chairman of the Champagne Agents Association believes that grower Champagnes are the key to unlocking the millennial market.

Hawes states “A quiet revolution has been building in the independent sector over the past few years.” He further adds, “Independents are selling more and more grower Champagne to millennials – they are naturally drawn to the ‘craft’ credentials of smaller brands.”

In the US, Chicago-based sommelier Zach Jones recorded a similar development, and he goes on to say, “Grower Champagne has had a huge surge in popularity with younger drinkers in the US, because there is a great story to tell and it gives younger consumers the sense that they are supporting a small family winery, not a massive machine.”

Sources:
Drinks Ontario
Champagne Information Bureau – UK