Uncorkings for 05/03/2010
Top industry stories of the week.
Both Pernod Ricard and Fortune Brands reported in their earnings results that they're seeing signs of improvement in the U.S.—most notably through on-premise sales.
At a time when many winemakers are having trouble selling even modestly-priced vino, Penfolds is expected to sell out of Grange within a week despite its $550 price tag.
New York cocktail outpost Employees Only announced plans to launch a private-label brand of artisan bar mixers. In addition to bartender sales, the products will be sold to home consumers through online grocery retailer FreshDirect.
The Sunday Business Post reported that C&C has put its spirits division up for sale, refocusing on its core beer and cider division. More here: http://www.sbpost.ie/themarket/cc-lining-up-200m-sale-of-spirits-division-48776.html.
Argentina is pumping out a river of Malbec, and it has been flying off the shelves at an astounding rate, according to figures from Wines of Argentina, a trade group. Argentine Malbecs have benefited from the strength of the dollar against the Argentine peso, making them a good value for American drinkers.
G’vine Gin announced the debut of a new addition to the line: Nouaison, which the company is positioning as an alternative to London Dry. The flavor profile is described by the company as “intensely spicy and subtly floral.”
An estimated 80,000 mint juleps were served at this year's Kentucky Derby (not counting all the juleps at Derby Day parties held elsewhere).