Is declining alcohol consumption a recent thing? I'm a little surprised how much attention it is getting now the stocks go down. Looks like the Courvoisier acquisition has been a complete disaster.
The more recent minority acquisition in Capevin Holdings for EUR 82.6M shows that the company might continue down that path (or it was the reason the CEO was sacked).
The Aperitif segment is clearly the crown jewel. Not sure I like their Diworsification strategy into competitive fields in which they do not have a clear competitive advantage.
Is declining alcohol consumption a recent thing? I'm a little surprised how much attention it is getting now the stocks go down. Looks like the Courvoisier acquisition has been a complete disaster.
The more recent minority acquisition in Capevin Holdings for EUR 82.6M shows that the company might continue down that path (or it was the reason the CEO was sacked).
The Aperitif segment is clearly the crown jewel. Not sure I like their Diworsification strategy into competitive fields in which they do not have a clear competitive advantage.
Thank you -- it's a fair comment.
Congrats on the 58 yards, Alex! Spectacular achievement. Well done.
It's tough to go against the trend of younger people drinking less than previous generations.
Agreed. Hard data to quantify the effect is extremely tough to pin down, but the direction of travel does seem clear.
Older generations drinking more, and spending more on their drink, have been an offsetting factor. Very hard to know how that plays out in future.
Glad to see you back Alex.