LVMH will cut 1,200 jobs—about 12% of its global workforce—at its wine and spirits division Moët Hennessy. This follows similar move by Remy Martin. Read More
Cognac
The drop was driven largely by a 17% fall in Cognac and other spirits, while Champagne and still wines slipped just 1%. Read More
China’s largest duty-free operator has allegedly removed cognac products from top producers, including Martell, Hennessy, and Rémy Cointreau, in what appears to be an escalation of trade tensions between Beijing and Brussels. Read More
The probe, originally scheduled to conclude within a year, will now run until April 5, 2025. Read More
Watson’s Wine, Hong Kong’s largest wine retailer, is cutting premium spirits prices by up to 60% and plans to open a dedicated premium spirits shop early next year as part of its goal to grow its market share in the spirits sector to 25% within the next three years.
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Workers at Hennessy’s bottling plant in southwestern France went on strike Tuesday after the cognac maker announced it is considering relocating part of its VSOP bottling operations to China to circumvent punitive tariffs. Read More
China and France have resumed discussions on China’s anti-dumping measures targeting European brandy imports, French spirits lobbying groups said on Nov. 12, calling the development “a positive initial response.” Read More
China’s Ministry of Commerce announced on Monday it will impose anti-dumping deposits ranging from 30.6% to 39.0% on brandy imported from the European Union, starting from October 11. Read More
Leading French alcohol industry associations have voiced strong protest over the "unjustifiable" duties on EU brandies and urged European and French authorities to resolve the issue within two months. Read More
China’s Ministry of Commerce announced Tuesday that it will not impose immediate anti-dumping duties on European Union brandy imports, despite finding that the products are being dumped in the Chinese market with margins ranging from 30.6% to 39.0%. Read More