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☆ Astronauts are banned from drinking alcohol at work, but this hasn't stopped them sneaking everything from communion wine to cognac into space
▼ + stars: | 2023-08-19 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

NASA and other space agencies have banned alcohol in space because it can damage equipment. But astronauts have found ways around this and smuggled alcohol onto spacecrafts for decades. In the one-sixth gravity of the moon the wine curled slowly and gracefully up the side of the cup. The space agency has since banned astronauts from drinking 12 hours before they fly. Others would hide alcohol in thick books that were hollowed out by removing the pages inside.

Persons: Daniel G Huot, NASA's, Buzz Aldrin, Aldrin, Madalyn Murray O'Hair, Igor Volk Organizations: NASA, Service, NASA's Johnson Space Center, BBC, Guardian, Webster Presbyterian Church, Soyuz, Metro, Russian Locations: Wall, Silicon, Houston, Russia

☆ The 'aspirational' luxury shopper is suffering, but don't expect any deals
▼ + stars: | 2023-07-27 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

US consumers earning less than $100,000 fueled record profits last year for French luxury group LVMH. These "aspirational" customers are now pulling back on spending as pandemic cash reserves run dry. Important as these shoppers are, don't expect to see huge markdowns from Louis Vuitton and Dior. "The cost of all these initiatives was obviously quite high," Guiony said. Not every luxury brand can pull this strategy off, but it appears LVMH certainly can.

Persons: Louis Vuitton, that's, Christian Dior, Tiffany, LVMH, Jean, Jacques Guiony, Neil Saunders, Saunders, Michael Kors, Guiony, Hitha Herzog, Herzog, Pharrell Williams Organizations: Dior, Service, Louis Locations: Wall, Silicon, Asia, Pont, Paris

☆ LVMH shares fall as second-quarter sales fail to impress
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +1 min

PARIS, July 26 (Reuters) - Shares in LVMH (LVMH.PA) fell sharply on Wednesday as analysts said that an in-line increase in sales at the world's top luxury indicated the overall sector was moving towards a less impressive path of growth. LVMH shares were down 3.7% in early session trading, also dragging down the shares of its rival Kering (PRTP.PA). The 17% increase at constant exchange rates was a touch better than analyst expectations for 16% growth. LVMH's leather goods division, home to Vuitton and Dior, grew revenues by 21%, also just above the expected 20% increase. LVMH also reported a 1% fall in U.S. sales as appetite for high-end fashion and leather goods slowed there, particularly among less wealthy shoppers, and lower-than-expected margins due to high marketing spending.

Persons: JP Morgan, LVMH, Louis Vuitton, Hennessy, Tiffany, Luca Solca, Bernstein, Sudip Kar, Silvia Aloisi Organizations: JP, Dior, Vuitton, Thomson Locations: U.S

☆ Remy Cointreau confident on H2 rebound after weak start to year
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +2 min

PARIS, July 25 (Reuters) - French spirits group Remy Cointreau (RCOP.PA) on Tuesday reported a fall in first-quarter organic sales, reflecting weaker U.S. demand, high year-ago comparables and destocking, and said it was banking on a sharp rebound in sales in the U.S. from the third quarter. The recovery in China, which makes 35% of group sales at par with the United States, was led by all cognac brands including CLUB, VSOP, XO and Louis XIII. During the COVID-19 pandemic, Remy Cointreau and rivals such as Pernod Ricard (PERP.PA) benefited from people drinking more expensive types of alcohol at home. There have, however, been signs that spirits industry growth was slowing, notably in the United States, as positive effects from the pandemic fizzle out. ($1 = 0.9033 euros)Reporting by Dominique Vidalon; Editing by Varun H K and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Remy Cointreau, Remy Martin, Cointreau, Louis XIII, Jefferies, Pernod Ricard, Dominique Vidalon, Varun, Stephen Coates Organizations: CLUB, Louis, Thomson Locations: U.S, China, United States, EMEA, Asia

☆ Sharp Chinese rebound pushes LVMH sales up 17% in second quarter
▼ + stars: | 2023-07-25 | by ( Mimosa Spencer | ) www.reuters.com time to read: +2 min

PARIS, July 25 (Reuters) - Sales at the world's top luxury group LVMH (LVMH.PA) rose by 17% in the second quarter, with a sharp rebound in China helping to offset a decline in the United States, where inflation and economic turbulence have dented demand for high-end goods. The 17% increase at constant exchange rates was a touch better than analyst expectations for 16% growth, according to a Visible Alpha consensus. Finance chief Jean-Jacques Guiony told reporters he was "very satisfied" with the rebound in China, which makes up the bulk of Asian sales. The region - excluding Japan - posted 34% growth compared to last year, when strict COVID-19 restrictions hit sales and emptied stores in China. In the United States, we see it's not as good as it was," he added.

Persons: Louis Vuitton, Hennessy, Tiffany, Jean, Jacques Guiony, Cartier, Richemont, Guiony, Mimosa Spencer, Silvia Aloisi Organizations: Dior, Finance, Vuitton, Thomson Locations: China, United States, Japan

☆ LVMH earnings suggest luxury spending is suddenly slowing in the U.S.
▼ + stars: | 2023-07-25 | by ( Robert Frank | ) www.cnbc.com time to read: +2 min

During the LVMH earnings call Tuesday, CFO Jean-Jacques Guiony said sales dropped in the U.S. as aspirational consumers no longer spent on entry-level products. LVMH's U.S. sales slid 1% in the second quarter from the prior-year period. LVMH's sales in Europe increased 18% in the second quarter, and Guiony said tourists accounted for nearly half of that growth. Overall, LVMH reported sales rose 17% in the quarter, helped by a 34% increase in Asia excluding Japan. Guiony said that despite signs the broader Chinese economy is slowing, luxury spending there is "strong" after lockdowns were lifted late last year.

Persons: Jean, Jacques Guiony, Richemont, Guiony, LVMH, Tiffany Organizations: Cartier, U.S ., U.S Locations: U.S, Europe, Paris, Rome, London, U.S . China, Asia, Japan, China

☆ Ukrainian helicopter crew say women flash them as they fly overhead to boost their morale fighting Russia
▼ + stars: | 2023-07-17 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +2 min

A Ukrainian air force crew told The Sunday Times that women flash them when they fly overhead. The Ukrainian air force is trying to keep morale high as it faces a strong Russian counterpart. He said his crew saves the GPS locations of places where it happens, lighthearted moment in their dangerous and often demoralizing missions against a far superior Russian air force. The Ukrainian air force is struggling against a far better-armed Russia, Maksym said. President Volodymyr Zelenskyy told The Wall Street Journal last month that Russian air superiority would exact a heavy toll on Ukrainian soldiers if Western powers did not provide them with reinforcements.

Persons: Maksym, Volodymyr Zelenskyy Organizations: Sunday Times, Service, Times, Wall Locations: Ukrainian, Russian, Wall, Silicon, Russia, Soviet, Ukraine

The executive, who was expected to make a visit this month, walked through the WF Central mall in Beijing, China on Tuesday, photos circulating on social media showed. The photos showed Arnault with his daughter, Dior CEO Delphine Arnault, and son Jean Arnault, who works for Louis Vuitton, as well as Dior's China president Monika Figlewicz. Other Beijing residents, posting on social media site Xiaohongshu, reported seeing Arnault at luxury department store SKP. LVMH, which owns labels ranging from Hennessy cognac to fashion houses Dior and Louis Vuitton, declined to comment. "The Chinese are very important clients," Louis Vuitton CEO Pietro Beccari told Reuters in an interview last week.

Persons: Bernard Arnault, LVMH Moet Hennessy Louis Vuitton, Gonzalo, Read, Dior, Delphine Arnault, Jean Arnault, Louis Vuitton, Monika Figlewicz, Hennessy, Pietro Beccari, Pharrell Williams, Casey Hall, Brenda Goh, Mimosa Spencer, Conor Humphries Organizations: Viva Technology, Porte de, REUTERS, WF, Reuters, Tiffany, Thomson Locations: Porte, Paris, France, SHANGHAI, PARIS, China, Beijing, China . China

☆ One of the world's oldest spirits is making a comeback
▼ + stars: | 2023-06-27 | by ( Zoe Sottile | ) edition.cnn.com time to read: +9 min

The anise-flavored liquor is one of the oldest spirits in the world. He noted that it’s still common for Middle Eastern restaurants to stock European wines rather than traditional spirits like arak. He was experimenting to refine the production of al-kohl, a traditional form of eyeliner, according to Arak Muaddi, a Palestinian craft distillery. Nader Muaddi, the founder of Arak Muaddi, explained that producing arak starts with creating wine. The Middle East has “a very rich history of making wine and spirits, and it’s about time that we share it with the world,” Muaddi went on.

Persons: you’ve, –, Jason Bajalia, Jordan’s, ”, Terra, ” Bajalia, Bajalia, “, we’re, ’ ”, Jabir ibn Hayyan, kohl, Nader Muaddi, ” Muaddi, Muaddi, Lewin Muaddi, Arak “, May Matta, she’s, Matta, Arak Farid, Jess Abi Khalil, Frederick, Arak, it’s, “ I’ve Organizations: CNN, Terra, Terra Sancta, distillers, Lewin Historians, Jordan Locations: Arak, Terra Sancta, arak, Syria, Lebanon, Palestine, Palestinian, arak . Arak, The, American, Pennsylvania, of Israel, artisinal, France, Germany, Austria, Amman, “

☆ Wagner mercenary chief says Russia's war in Ukraine based on lies
▼ + stars: | 2023-06-23 | by ( Andrew Osborn | ) www.reuters.com time to read: +4 min

"The war was needed ... so that Shoigu could become a marshal ... so that he could get a second 'Hero' [of Russia] medal. The war wasn't needed to demilitarise or denazify Ukraine." There was no immediate response from the Defence Ministry, which has ignored previous complaints from Prigozhin, in public at least. Putin has, however, backed a Defence Ministry order, which Prigozhin opposes, that mercenary groups like Wagner must sign contracts putting themselves under ministry control by July 1. Portraying the top brass as vodka- and cognac-swilling fools who lunch on caviar, he alleged the Russian war effort was being hobbled by corruption.

Persons: Putin, oligarchic, Yevgeny Prigozhin, Wagner, Sergei Shoigu, Valery Gerasimov, Prigozhin, PUTIN Wagner, Russia's, Vladimir Putin, Volodymr Zelenskiy, Andrew Osborn, Kevin Liffey Organizations: Defence Ministry, NATO, Kyiv, Thomson Locations: Ukraine, Russia, Ukraine's, Moscow, Ukrainian, Bakhmut, Prigozhin

☆ Half a Year After the COP Agreement on Nature, Companies Are Increasingly Looking at Their Biodiversity Impact
▼ + stars: | 2023-06-21 | by ( Joshua Kirby | ) www.wsj.com time to read: +8 min

While mandatory reporting on nature may still be a long way off, for some companies, measuring their impact on nature makes good business sense. “Not enough companies are actually measuring their corporate biodiversity impact,” said Steve Kennedy, associate professor in business sustainability at the Rotterdam School of Management. Biodiversity impact, on the other hand, remains a more nebulous concept, with widespread uncertainty about what to measure and how to measure it. While biodiversity impact remains difficult to assess, more complete data can help, said Zoe Balmforth, co-founder of biodiversity-data startup Pivotal. And companies will soon have a final framework on which to base their voluntary biodiversity reporting.

Persons: Jennifer Motles, Philip Morris, Motles, Katie Critchlow, Rémy Cointreau, Eric Vallat, LVMH Moët Hennessy Louis Vuitton, ”, Steve Kennedy, Kennedy, “ It’s, “, ” Philip Morris International’s, Nicolo Filippo Rosso, Zoe Balmforth, Balmforth, Cameron Frayling, Frayling, U.N, JULIAN HABER, Kering, PMI’s Motles, Joshua Kirby Organizations: Philip Morris International, Data, Sustainable Business, Fund, Nature, PMI, Rotterdam School of Management . Companies, SAS, Bloomberg, World Bank, REUTERS Governments, United Nations ’, pharma, GSK, Gucci Locations: Montreal, American, of Mexico, Lake Erie, Colombia, Kunming, Canada, joshua.kirby

☆ Remy Cointreau keeps outlook as annual profit beat forecasts
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +1 min

PARIS, June 1 (Reuters) - French spirits group Remy Cointreau (RCOP.PA) reported a higher-than-expected rise in operating profit for its 2022/23 fiscal year and stuck to its cautious prospects for this year. The maker of Remy Martin cognac and Cointreau liquor reiterated a prediction of flat organic sales in financial year 2023-2024, with steady profitability, to reflect weaker U.S. demand and high year-ago comparables. This beat expectations for a 14.4% rise in a company compiled consensus of 18 analysts. Already reported group sales were 1.55 billion euros, marking an organic rise of 10.1%. ($1 = 0.9084 euros)Reporting by Dominique Vidalon; Editing by Benoit Van OverstraetenOur Standards: The Thomson Reuters Trust Principles.

Persons: Remy Cointreau, Remy Martin, Dominique Vidalon, Benoit Van Overstraeten Organizations: Thomson Locations: China, United States

☆ Olympic Medalist Herbert P. Douglas Jr., Denied Coaching Job, Marketed Cognac Instead
▼ + stars: | 2023-05-17 | by ( James R. Hagerty | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/olympic-medalist-herbert-p-douglas-jr-denied-coaching-job-marketed-cognac-instead-ab7f4d7f

☆ Analysis: LVMH's caution points to Americans' waning lust for luxury
▼ + stars: | 2023-04-13 | by ( Mimosa Spencer | ) www.reuters.com time to read: +5 min

[1/2] A LVMH luxury group logo is seen prior to the announcement of their 2019 results in Paris, France, January 28, 2020. European labels including LVMH's Louis Vuitton and Dior, as well as Chanel and Hermes have been riding a wave of strong demand from Americans, who emerged from lockdowns with savings and a desire to splash out on designer labels. He added the group is taking a cautious approach to price increases this year -- not just for cognac. "It's probably the most emblematic luxury store in the world," said Guiony. Elliott Savage, portfolio manager of U.S.-based fund YCG Investments, which holds shares in LVMH and other luxury brands, said a weakening U.S. luxury market in the near term could present an opportunity for dominant players to take market share.

☆ LVMH Q1 sales lifted by strong Chinese rebound
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +2 min

PARIS, April 12 (Reuters) - LVMH (LVMH.PA), the world's largest luxury company, reported a 17% rise in first-quarter sales, more than double analysts' expectations, as China rebounded after COVID-19 lockdowns. LVMH said first-quarter sales grew by 14% in Asia, excluding Japan, and by 8% in the United States. That compared with flat revenues in Asia and 15% growth in U.S. sales for last year. "Asia experienced a significant rebound," the company said in a statement. LVMH made 27% of its 2022 revenues in the Americas, and 30% in Asia excluding Japan.

☆ Johnnie Walker maker Diageo appoints Debra Crew CEO
▼ + stars: | 2023-03-28 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN —One of the world’s largest alcoholic drinks companies has appointed its first female CEO. Diageo, which makes Guinness beer and Johnnie Walker whisky, said Tuesday that chief operating officer Debra Crew would succeed Ivan Menezes, who will retire from the company after 10 years at the helm. Diageo is the seventh-largest member of the FTSE 100 (UKX) index and will now become the largest UK-listed company led by a woman. There are just nine other FTSE 100 (UKX) companies led by women, including pharmaceutical company GlaxoSmithKline (GLAXF) and bank NatWest. Diageo is the world’s fourth biggest alcoholic drinks company by market value, after AB InBev (BUD) and China’s Wuliangye Yibin and Kweichow Moutai.

☆ Jay-Z is now worth $2.5 billion—Warren Buffett once said 'he's the guy to learn from'
▼ + stars: | 2023-03-27 | by ( Nicolas Vega | ) www.cnbc.com time to read: +2 min

Less than four years after becoming the first billionaire rapper, Jay-Z is showing no signs of slowing down. The Brooklyn-born artist's net worth is now $2.5 billion, according to the latest estimate from Forbes. Forbes pegged his net worth at $1.4 billion just last year. At the end of their conversation, Buffett said that soon enough, young people would be looking to Jay-Z for their money-making advice. "For a young person growing up he's the guy to learn from."

☆ Wagner’s convicts tell of horrors of Ukraine war
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: +11 min

They are identified as pardoned former convicts, returned from the front in Ukraine after joining Wagner from prison. Four of the men said they were personally recruited by Yevgeny Prigozhin as he toured Russia’s prison system to bolster his private army. I wish all real men would join Wagner.”The war in Ukraine is straining Russia’s military capacity. One of the convict recruits told Reuters he travelled to a Wagner training camp in the Russian-controlled part of eastern Ukraine’s Luhansk region. According to the United States, by mid-February Wagner had suffered more than 30,000 casualties in Ukraine, including 9,000 dead, almost all of them convicts.

☆ The founder of Uncle Nearest Premium Whiskey, the best-selling Black-owned spirit brand in the US, explains how she reached $100 million in sales
▼ + stars: | 2023-02-18 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +6 min

Fawn Weaver founded Uncle Nearest Premium Whiskey, the US's best-selling Black-owned spirit brand. Uncle Nearest has generated more than $100 million in sales since its launch, information Insider verified with documentation. Uncle Nearest Premium Whiskey. In 2017, Weaver opened the Nearest Green Distillery and launched Uncle Nearest Premium Whiskey, making storytelling the foundation of her brand's success. Fawn Weaver, founder and CEO of Uncle Nearest Premium Whiskey.

☆ Pernod Ricard eyes more price hikes in second half, confident on China
▼ + stars: | 2023-02-16 | by ( Dominique Vidalon | ) www.reuters.com time to read: +2 min

The world's second largest spirits group after Diageo (DGE.L) reported forecast-beating first-half profit and sales, helped by price hikes of around 10%. During the COVID pandemic Pernod Ricard and its rivals benefited from people drinking more expensive types of alcohol at home. There have been, however, growing signs the spirits industry growth was stabilising, notably in the United States, as positive effects from the pandemic fizzle out. The strong first-half reflected a 5% rise in the United States, Pernod's top market, with growth driven by strong price hikes across its portfolio. In China, first-half sales grew 4%, reflecting a strong first quarter with solid demand for Martell cognac during the Mid-Autumn festival but a soft second quarter due to COVID-19 restrictions.

☆ The 2023 Super Bowl Ads Will Feature Booze, Betting and Jesus
▼ + stars: | 2023-02-10 | by ( Megan Graham | Patrick Coffee | ) www.wsj.com time to read: +10 min

The Super Bowl ads on Sunday are poised to promote an unusual mix of alcohol brands, gambling and Jesus. The Super Bowl still regularly draws an audience of around 100 million people, making it TV’s biggest event of the year and advertising’s biggest night. Planters’ Super Bowl ad features comedians mocking Mr. Peanut. The ads are likely to strike a lighter tone than the occasionally somber messages of Super Bowl ads in recent, highly politicized years or the early pandemic, said Anjali S. Bal, an associate professor of marketing at Babson College. Many Super Bowl advertisers have again released their ads well before Super Bowl Sunday to increase their chances of being seen.

☆ Cheers! Spirits like gin, vodka, overtake beer's U.S. market share
▼ + stars: | 2023-02-09 | by ( Jessica Dinapoli | Thomson Reuters | New York-Based Reporter Covering U.S. Consumer Products Spanning Paper Towels To Packaged Food | ) www.reuters.com time to read: +2 min

Spirits like whiskey, cognac and tequila, a celebrity favorite, have surpassed beer's U.S. market share for the first time due to price hikes and high-end cocktail trends, according to the Distilled Spirits Council of the United States. U.S. sales for spirits totaled $37.58 billion last year, while beers like Anheuser-Busch inbev SA's (ABI.BR) Bud Lite tallied $37.46 billion, according to data compiled by the Distilled Spirits Council. Spirits' market share was 42.1%, while beer's was 41.9%, according to the data. Tequila and ready-to-drink canned cocktails including Constellation Brands Inc's (STZ.N) Fresca vodka spritz were among the fastest-growing types of spirits, the Distilled Spirits Council said. "The 'premiumization' trend, where people look at distilled spirits as an affordable luxury, is affirmed by these numbers," said Chris Swonger, CEO of the Distilled Spirits Council.

☆ H&M highlights fast-fashion gloom as luxury takes hit in China
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +4 min

Shares in H&M, the world's No. 2 fashion retailer, fell as much as 6% in early trade after quarterly operating profit sank to 821 million Swedish crowns ($79.7 million) from 6.26 billion a year earlier. Zara has outperformed rivals after selling higher-priced garments and enticing shoppers who might have otherwise spent money at luxury stores. Disappointment over the impact of the China disruptions on its margins caused a record-breaking run in LVMH shares to briefly halt on Friday. The luxury industry is nevertheless expected to be one of the biggest winners from the loosening of restrictions that kept shoppers out of stores in China for months.

☆ Remy Cointreau's sales fall less than feared as China offsets U.S. decline
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +1 min

Jan 27 (Reuters) - French spirits maker Remy Cointreau (RCOP.PA) posted a smaller-than-expected drop in third-quarter sales on Friday, as steep shipments to China ahead of the Lunar New Year partly offset lower cognac consumption in the United States. The maker of Remy Martin cognac and Cointreau liquor confirmed its full-year outlook for strong organic sales growth, albeit with further normalisation of consumption trends in the fourth quarter after two "outstanding years". Remy Cointreau reported a revenue of 437.6 million euros ($475.6 million) for the three months through December, an organic drop of 6% from a year earlier but slightly ahead of analysts' 433.3 million euro forecast. Sales at its Remy Martin cognac division fell 11% in the quarter, dragged by a U.S. slowdown even as the group's Chinese market continued to bounce back. "Despite disruptions triggered by unprecedented levels of Covid, the group successfully generated robust sales growth ahead of the Chinese New Year and in anticipation of a full recovery in business," it said.

☆ Bud Light and Budweiser are getting a makeovers at this year’s Super Bowl
▼ + stars: | 2023-01-19 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +5 min

The latter, he said, “broke through” during the Super Bowl, but “needs time and commitment” to grow. In recent years, customers have been increasingly choosing premium or Mexican lagers, putting Bud Light out of favor with some beer drinkers. Garbe said the beer is the company’s “number 1 growth engine” and is soon set to overtake Bud Light in sales. Fox, which will broadcast Super Bowl LVII, is reportedly charging $7 million for a 30-second spot during the February 12 game in Glendale, Arizona. Liquor giant Diageo (DEO) is making its Super Bowl debut this year with an ad for Crown Royal whisky.

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