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DAILY BRIEFING: LITE EDITION
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A preview of today's news & insights for the beer industry.
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šØ What You're Missing šØ |
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| | Brewbound Insiders are getting the scoop on one of the newest celebrity-backed ready-to-drink (RTD) canned cocktails: Snoop Dogg and Dr. Dreās (what else?) Gin & Juice. The RTD rolled out in February with the help of the leadership team that built ready-to-serve brand On The Rocks, which Suntory Spirits acquired in 2020.
Insiders are also: - Learning about distributorsā purchasing behavior in August courtesy of the National Beer Wholesalers Associationās latest Beer Purchasersā Index;
- Seeing Constellation Brandsā revised guidance for 2025 and impairment charge on its wine and spirits business;
- And reliving last weekās beer industry news largely in GIF form with the Brewbound Week in Review.
Insiders also have access to the Brewbound Newsletter Archive, including previous newsletter-exclusive Insider content.
Become a Brewbound Insider today! Or, be in the know on all food and beverage news from Brewbound, BevNET and NOSH with Insider All Access. |
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| | Ready-to-drink products have built their brands around different cocktails: Some are sessionable seltzers or old classics, others are obscure cocktails that havenāt yet hit mainstream. But Gin & Juice By Dre and Snoop, so far, is the only one that has emerged from a '90s rap anthem.
The cocktail, named for the iconic āGin & Juiceā by West Coast rap legends and business moguls Dr. Dre and Snoop Dogg, launched in February. To get the product off the ground, the duo tapped the creators of RTD On The Rocks (OTR): Patrick Halbert, now CEO; Andrew Gill, chief strategy officer; and Rocco Milano, executive vice president of sales.Ā The team has since been on an aggressive sales push, aiming to leverage more than 30 years of pop culture relevance to build Gin & Juice as the RTD gateway to gin, the spirit base for any future innovations from the team. Insiders can go deeper into the strategy behind creating a āgin gatewayā and why they plan to be āloud and aggressive.ā
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| | Constellation Brands has revised its 2025 fiscal outlook amid ongoing struggles in its wine and spirits business and consumer headwinds.Ā The company revised its wine and spirits net sales projections for its wine and spirits business from between -0.5% and +0.5%, to between -6% and -4%. The importer of Mexican brands Corona, Modelo, Pacifico and Victoria also ticked down its beer projections from between +7% and +9%, to between +6% and +8%.Ā Notably, Constellation will take a non-cash goodwill impairment charge of around $1.5 billion to $2.5 billion in its fiscal quarter ending August 31, 2024. The company will report Q2 earnings on October 3.
Insiders can read moreInsiders can read more about the revised forecasts and management's comments. |
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| | The end-of-summer blues are hitting the beer category.Ā The National Beer Wholesalers Associationās (NBWA) Beer Purchasersā Index (BPI) for August posted a reading of 40, which indicates wholesalers are ordering less beer as summer comes to a close.Ā BPI readings below 50 denote a segment is in contraction, while readings above 50 shows a segment is expanding.Ā Insiders can read ordering trends for individual segments, including craft, imports, flavored malt beverages, premium lights, premium regulars, below premium and hard cider.
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| | The 2024 Barclays Global Consumer Staples Conference kicks off today in Boston. Weāll be keeping tabs on bev-alc related discussions throughout the event, including Constellation Brands and Molson Coors. Look out for coverage later this week.Ā
Plus, the Beer Instituteās July economic reports are scheduled to release Wednesday, so get ready for data on domestic tax paids, state shipments and imports, plus analysis from BI chief economist Andrew Heritage. And CODO Design co-founder Isaac Arthur joins the Brewbound Podcast to discuss navigating a brand refresh. |
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| | The summer selling season hasnāt been as kind to beer as in years past, according to the latest monthly report from market research firm Circana (data ending August 11).Ā
Total beer dollar sales declined -3.7% and volume -5.4% in Circana-tracked off-premise channels in the last four weeks. Craft declines were even steeper, with dollar sales declining -6.5% and volume -7.8%.Ā Read the full details, including how top 30 craft brands are performing.Ā Meanwhile, fourth category products topped $13 billion in NIQ-tracked off-premise channels year-to-date through July 13, a +4% increase year-over-year. BevNET spirits editor Ferron Salniker has details on how each segment is growing.Ā Beer should see some positive change after this past weekend, according to consumer research firm Numerator. More than three-quarters of consumers planned to purchase beer for their Labor Day celebrations.Ā Additionally more than one-third of consumers planned to visit the on-premise for the holiday, according to NIQ, the on-premise arm of market research firm NIQ. That percentage increases to 52% when including only 21-34 year olds. CGA also previewed football season spending habits, and a look ahead at on-premise trends through the start of 2025. |
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| In other news from the week ā¦ Magnolia Brewing has been sold (again). New Belgium parent company Kirin, which acquired Magnolia with its New Belgium acquisition, sold the San Francisco brewery to an ownership group that includes 21st Amendment vet Brandon Phillips, neighborhood bar owner Kevin Kynoch and Brian Reccow from consulting firm The Specialistas. Workers at Sapporo-Stoneās Virginia facilities have begun a union drive, seeking āhigher pay, more consistent scheduling and better working conditions.ā VinePairās Dave Infante first reported the news.Ā Coloradoās Left Hand Brewing has its sights on creating a craft platform, and is raising money with a crowdfunding campaign. Brewbound managing editor Jess Infante has details on Left Handās significant volume losses over the past decade, and leadershipās vision for the future.Ā Plus: And Nutter, McClennen and Fishās bev-alc team Nichole Shustack and Isabelle Cunningham join the Brewbound Podcast to discuss what legal issues bev-alc industry members should look out for, including new regulations for crossover and non-alcoholic brands. |
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| | | | Brewbound announced the addition of several new speakers for itsĀ Brewbound Live business conferenceĀ December 11 and 12 in Marina del Rey, California. The two-day conference will bring together leaders from all three tiers for business-focused conversations on driving the bev-alc industry forward, data presentations, networking and brand building at the Marina del Rey Marriott. Joining the speaker roster are: - Rebecca Maisel, Gulf Distributing SVP legal and government affairs;
- Lauren Doll-Sheeder, Doll Distributing managing partner;
- Jennifer Grant, Markstein Sales general manager and VP;
- Zech Francis, BeatBox Beverages SVP of global marketing;
- Rebecca Dye Yonushonis, New Belgium Brewing CMO;
- Lindsay Kunkle, Foresight Factory director, head of U.S. Consultancy.
They join a growing speaker roster that includes: - Arthur Moye, owner and CEO of Full Circle Brewing;
- Kaleigh Theriault, director of thought leadership, beverage alcohol vertical, NIQ;
- Brian āBKā Krueger, VP of business development and portfolio strategies, Bump Williams Consulting;
- Natalie Cilurzo, co-owner, Russian River Brewing;
- Peter Skrbek, CEO, Deschutes Brewery;
- Lester Jones, chief economist and VP of analytics, National Beer Wholesalers Association;
- Jennifer Hauke, founder and president, Draftline Technologies.
Additional speakers will be announced in the coming weeks. Interested in speaking?Ā Follow this link to see our speaker guidelines. In addition to the mainstage programming and networking parties, Brewbound Live will feature opportunities forĀ one-to-one conversationsĀ between brewers and bev-alc brands and retail buyers from chains such as Whole Foods Market and ExtraMile Convenience Stores. Registered attendees will be considered for meetings with buyers, as space is limited.Ā Find out more details here. Register for Brewbound Live >> Brewbound Live is sponsored by John I. Haas, NIQ, Crafted ERP, Strike Visuals, Fast Track Packaging and Abstrax Hops. |
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| | | The Brewbound team is hosting a freeĀ beer industry happy hourĀ on Sunday, September 29Ā from 4 to 6 p.m. PT at The Church by The Lost Abbey in San Diego! Kick off NBWA with us in downtown San Diego with industry networking, Lost Abbey beers and light appetizers. Industry professionals within the beer and beyond industries are invited to attend the free happy hour. Prior registration is required. Here are the details: Date: Sunday, September 29, 2024Ā Time: 4ā6 p.m. PT Location: The Church by The Lost Abbey (1313 J St, San Diego, CA 92101) Learn More + Register for Free >> Headed to NBWA that week? The Brewbound Podcast hosts, Jess, Justin, and Zoe, will be recording podcast interviews on the show floor. Visit our Brewbound Podcast studio located in the Product Showcase area for a unique opportunity to connect with our Brewbound team in-person as they discuss the latest trends, industry insights, and interview key players in the world of brewing. Want to schedule some time to chat during the show? Email us atĀ [email protected]. |
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