He gets off in Piazza Affari Campari -1,8%, close to 10 euro, only by a hair's breadth better than the index which fell heavily against the return of BTPs above 1% and the winds of inflation arriving from overseas. Almost an exception because until now the title of prince of beverages had proved to be a shield against the Bear on lean days.
And yet, from the quarterly season it emerges that the big names in the sector can boast not only excellent results, but also excellent prospects. Philippe Schauss, manager of Moet Hennessy, one of the divisions of the LVMH luxury armada, took a leap in this direction and even spoke of an "imminent rebirth of spirits" in an interview with the Financial Times. This time, he reasoned, we are not facing an economic crisis that affects consumption. Conversely, consumers have more money in their pockets, especially in the US and the UK. And it shows. In the first quarter sales jumped 12 percent and are already approaching pre-pandemic levels. Not bad if you think about how much the closure of bars and restaurants has affected, not to mention the curfew. And this explains the pugnacious intentions of the brand which for spring foresees the grand launch of the Chateau d'Esclans, a sparkling rosé from Provence, but above all a secret weapon, the Chandon Garden Spritz, to counter the advance of Aperol, the kingdom of the aperitif on both sides of the ocean.
The Milanese company, now elevated to the rank of great in the Drinks & Beverages sector, is not standing by. On the contrary, it has already launched a counter-offensive on the French market, the most important also because it is an irreplaceable business card for drink enthusiasts. Last week Tannic, the most important online wine shop in the Bel Paese, took control of Venteàlaproprieté (34,5 million sales in 2020) one of the main transalpine e-commerce sites. A 32 million euro operation that will allow Tannico to double bottles and turnover around the world with a target of 80 million turnover.
But behind Tannico (37 million turnover in 2020) there is no longer only the talent of Marco Magnocavallo and his partners, capable of getting the start-up born in 2013 off the ground, one of the most successful e-commerce experiences in the Bel Paese, but Campari which took over 49% of the company last summer with the license to take over the majority. Which happened with the subscription of the capital increase necessary to complete the operation between the two wine superpowers. "We have probably been more innovative on the digital front - explains Magnocavallo - they have worked a lot on local wineries and this will allow us to access a large selection of French wines that will enrich the catalog on the Italian market without having to go to any intermediary". “This operation is a unique opportunity to bring together two wine e-commerce leaders in their respective countries with complementary skills that ensure their future growth” added Clotaire Dumetz, CEO of the French group.
In economic terms, the effect of the deal is certainly modest, but it was appreciated by analysts for several reasons, starting from digital revenue growth which has recorded extraordinarily positive results in recent years with an acceleration from the pandemic outbreak. It also allows you to grow on the French market, one of the most important. And, last but not least, to consolidate Tannico in the financial statements, until now accounted for among the associates, a brand with significant growth prospects in a sector that is on the verge of a boom.
Confirmation comes from Diageo, the giant of Johnny Walker and Smirnoff vodka, which has decided to increase the dividend to shareholders after the increase in profit estimates: thanks to Covid-19, consumption will rise "by at least 14%" four points more than the estimates. So much for the rate hike.
