Changyu, China’s largest wine producer, is selling its French Cognac estate and related property for 4.8 million euros (about US$5.2 million) as part of ongoing efforts to offload underperforming assets and shore up its finances. Read More
Cognac
China and French brandy producers have reached a preliminary agreement on pricing, a key development in Beijing’s anti-dumping investigation into European brandy imports that signals easing tensions between the two sides. Read More
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
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.
Read More
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