News Briefs for January 19, 2012January 19, 2012
•Rémy Cointreau’s revenues jumped 18.2% to €821 million ($1.05b) in the nine-month period ended December 30, driven by 30% growth to €476 million ($615m) for its Rémy Martin Cognac brand, whose shipments to China surged ahead of Chinese New Year. The company’s revenues for the third quarter ended December 30 were up 29.8%, with Rémy Martin rising 64.7% during the period.
•MillerCoors saw domestic beer sales to retailers fall 3.3% and domestic beer sales to wholesalers fall 1.6% in the company’s third quarter ending December 31. Premium light brand volumes were down by low single digits while Miller Lite was down by mid-single digits. However, MillerCoors’ Tenth & Blake craft and import division continued to see double-digit growth. Boosted by emerging markets, parent company SABMiller saw global beer sales in the quarter increase by 3%. While beer volumes in Europe were down 2%, volumes in Africa, Latin America and Asia Pacific were up by 11%, 8% and 7%, respectively.
•Sonoma-based The Other Guys says sales jumped more than 40% to hit a new record in 2011. Led by top-seller Leese-Fitch, followed by Plungerhead and Hey Mambo, The Other Guys shipped 238,600 cases of wine last year, up from 170,500 cases in 2010. The group, part of the Don Sebastiani Family of Companies, also entered the spirits category last year with the release of Masterson’s 100% Straight Rye Whiskey, which sold 1,400 cases after entering the market in August at $79 a bottle. The Other Guys president August Sebastiani says the company is lining up more spirits releases for 2012, including a botanical gin, an aged rum and a small-batch Bourbon.
•Location-based social media website Foursquare has teamed up with restaurant solutions start-up SinglePlatform to add restaurant menus to its features. Through the partnership, SinglePlatform will provide approximately 400,000 menus, 250,000 of which have already been formatted and posted on the Foursquare site. In addition to menus, Foursquare has concurrently added price-level indicators, allowing diners to select restaurants according to cost. Competitor Yelp added a menu feature last April.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.