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MILAN (Reuters) - LVMH's Moët Hennessy and Italy's Campari have agreed to team up to invest in wines and spirits e-commerce companies and create a European ecommerce player in the sector. In a statement on Monday, the two groups said Campari would transfer its stake in online wines and spirits company Tannico into a newly set up joint venture. The deal, subject to regulatory clearance, envisages the sale of half the JV's equity capital by Campari to Moët Hennessy for 25.6 million euros ($30 million) in cash, they said. "While e-commerce was already a growing channel for wines and spirit...

France is gradually exiting its third lockdown. The terraces of cafes and bistros will open on May 19, while indoor eating and drinking with limited capacity is scheduled to resume on June 9. Bars and restaurants in the United Kingdom opened with outdoor seating last month and are set to resume indoor service on May 17. While demand for most of Moët Hennessy’s drinks has bounced back, the market for vodka remains weaker because it’s often served in nightclubs, which have yet to reopen in many places, Schaus said. A 75-centilitre bottle of Chandon Garden Spritz sells for 19.90 euros at LV...

Pent-Up Luxury Demand Keeps LVMH On Top Of The World’s Largest Apparel Companies Share to Facebook Share to Linkedin People queue outside Louis Vuitton boutique store in Mayfair area of London, as non-essential shops are allowed to reopen after England's second lockdown ended, Wednesday, Dec. 2, 2020. Pfizer and BioNTech say they've gained permission Wednesday for emergency use of their COVID-19 vaccine in Britain, the world's first coronavirus shot and a major step toward eventually ending the global pandemic.(AP Photo/Alberto Pezzali) ASSOCIATED PRESS One year after the pandemic brough...

'There is purchasing power out there and it seems to be translating, not necessarily to more alcohol consumption, but better consumption, and we are benefiting from that.' Moet Hennessy said there had been a cognac boom in the US following reopening, and that it had struggled to keep up with demand. After a 15 per cent fall in sales last year, revenues have bounced back, rising 12 per cent in the first quarter of this year, compared to the same period in 2019. It came as Diageo reinstated its £4.5billion dividend and buyback programme after upgrading profit guidance thanks to booming trade i...

07 May 2021, 11:05 pm (Photo : Screenshot From Commons.Wikipedia.org) Jay-Z Joins Twitter CEO Jack Dorsey's Board of Directors for Company 'Square' A celebrity has just joined the board of directors of one of the up and coming companies started by Twitter CEO Jack Dorsey. While Jay-Z has been active in the business world and is still a well known rapper, the recent seat still comes as a surprise. Jay-Z Joins Jack Dorsey's Square According to the story by CNet, Square, a certain mobile-payments company that is reportedly owned by Twitter CEO Jack Dorsey, has just added Jay-Z to the company's o...