Why drinks makers are slashing prices | FT
#shorts
A historic downturn in demand for Scotch, whiskey, cognac and tequila has left drinks makers sitting on a lake of unsold spirits, forcing them to mothball distilleries and slash prices to shift bottles piling up in warehouses.
Five of the biggest listed alcohol producers — Diageo, Pernod Ricard, Campari, Brown Forman and Rémy Cointreau — are sitting on $22bn worth of ageing spirits, the highest level of inventory in more than a decade, according to their financial reports, the FT's Madeleine Speed reports.
#Why #drinks #makers #are #slashing
Why drinks makers are slashing prices | FT #shorts
A historic downturn in demand for Scotch, whiskey, cognac and tequila has left drinks makers sitting on a lake of unsold spirits, forcing them to mothball distilleries and slash prices to shift bottles piling up in warehouses.
Five of the biggest listed alcohol producers — Diageo, Pernod Ricard, Campari, Brown Forman and Rémy Cointreau — are sitting on $22bn worth of ageing spirits, the highest level of inventory in more than a decade, according to their financial reports, the FT's Madeleine Speed reports.
#Why #drinks #makers #are #slashing