News Briefs for October 4, 2012
October 4, 2012•Beam Inc. has opened a new innovation center and visitors’ center at its flagship distillery in Clermont, Kentucky. The new visitor center—The Jim Beam American Stillhouse—will allow guests to take first-ever tours through the Bourbon distillery. The new 57,000-square-foot Global Innovation Center on the distillery property features technical, R&D and design labs to back the company’s focus on new-product development initiatives. Beam has said that it aims for 25% of annual sales growth to come from new products in the coming years. The new facilities represent a $30-million, multi-year investment from Beam. The official opening event held yesterday marked the one-year anniversary of Beam becoming a publicly traded standalone company.
•Tesco says it will slow the rate of U.S. unit Fresh & Easy’s expansion over the rest of its fiscal year, which ends next February, as the unit continued to post a loss over Tesco’s fiscal first half. Despite a same-store sales rise of 5%, Fresh & Easy lost $118 million at constant exchange rates in the first half, in line with the same period a year earlier. At the beginning of its fiscal year, Tesco said it was planning to have around 230 Fresh & Easy locations in operation by next February, but now says the number will be just over 200 stores. Tesco CEO Philip Clarke said, “We’re not going to open very many more stores in the U.S. in the rest of this year or into next year. Instead, our focus will be on getting more stores across the profit line.” Fifty-five Fresh & Easy stores are currently delivering a positive cash contribution, Clarke added, up from 30 at the beginning of the fiscal year.
•Ruth’s Chris Steak House is partnering with Port producer The Fladgate Partnership for an exclusive Port dinner featuring the Taylor Fladgate and Fonseca brands on October 18. The dinner will be held at 51 of the restaurant’s locations across the country. It will feature a Port cocktail as well as pair different varieties of Port with five food courses. Robert Bower, U.S. export manager Taylor Fladgate and Fonseca, will co-host the dinner at the Ruth’s Chris location in Northbrook, Illinois with Helen Mackey, corporate director of beverage strategy for Ruth’s Hospitality Group. Tickets are priced at $110 per person. Fladgate’s brands are handled in the U.S. by Kobrand. Bowers says Taylor Fladgate, Fonseca and the company’s third brand, Croft, account for around 28% of U.S. Port volume.
•Beam Inc.’s Pinnacle vodka is introducing a limited-edition Pumpkin Pie flavor for the fall season. Rolling out in select markets, Pinnacle Pumpkin Pie will sell alongside the core brand at around $12.99 a 750-ml. Beam suggests serving the new flavor chilled, on the rocks or in cocktails. Known for its Whipped flavor series, which accounts for over 1 million cases, Pinnacle has also introduced Pineapple, Peach, Blackberry and Cucumber Watermelon flavors this year. Beam acquired the fast-growing brand from White Rock Distilleries in April for $605 million.
•Chateau Lagrézette, based in Southwest France’s Cahors region, has named Claude Boudamani vice president of marketing and sales for its global operations. Boudamani was previously VP, sales and marketing, for Francois Lurton’s properties in Argentina, Chile, Portugal and Spain, overseeing Lurton’s business in the U.S. and Asia. He was also previously winemaker and vice president at Bordeaux’s Chateau Haut-Brion. Known for its French Malbec wines, the Chateau Lagrézette label is handled in the U.S. by Other Wine & Spirits.
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