Daily Archive: June 27, 2011
Martin Wine Cellars Rebuilding In New Orleans
In late August 2005, Hurricane Katrina lashed through New Orleans, destroying the Martin Wine Cellar store on Baronne Street. It’s been a long process, but next year owner Cedric Martin will reopen that location, where his father David founded the business 65 years ago. Martin Wine Cellar currently has five locations in Louisiana—on Magazine Street in New Orleans, in Metairie in Jefferson Parish, in Mandeville (about 30 miles from New Orleans) and Baton Rouge (90 miles away). About 70% of the company’s sales are in wine, while spirits account for 12%-14% and gourmet food and catering comprise 12%. Beer plays a minor role. Overall revenue exceeds $15 million annually. Long renowned as a retail destination in a city famous for celebration, Martin Wine Cellars has kept pace with change in the marketplace. Shanken News Daily interviewed Cedric Martin recently about trends in his operation. Continue reading →
Posted in News on June 27, 2011Diageo Gets Approval For Chinese Baijiu Play
After a wait of several months, Diageo has gained Chinese regulatory approval to pay RMB140 million ($22m) to up its stake in Sichuan Chengdu Quanxing Group by 4%, bringing its holding in the group to 53%. Continue reading →
Posted in News on June 27, 2011News Briefs for June 27, 2011
•The Wertheimers, the family that controls the Chanel Group, have acquired grand cru classé Château Matras in St.-Emilion, according to a report in Wine Spectator. Continue reading →
Posted in News on June 27, 2011
