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Premiumization

All articles tagged with #premiumization

business2 years ago•3 min saved

Modelo overtakes Bud Light as top-selling beer in US, says analyst.

Mexican beer brand Modelo Especial has overtaken Bud Light as the top-selling beer brand in the US, with the growing Hispanic drinking age population and a trend towards premiumization cited as the main reasons. Bud Light's sales have continued to decline following the Dylan Mulvaney controversy, in which the brand faced backlash after featuring the transgender activist. NielsenIQ data showed Bud Light sales were down 24.4% compared to a year ago for the week ending June 3, while Modelo Especial passed Bud Light as the top-selling beer brand on a dollar basis for the four-week and single-week period ending June 3.

via Fox Business|

#beer #bud-light #business

business2 years ago•5 min saved

"Spirits Take Over: 5 Trends Shaping the Liquor Industry"

The spirits industry has surpassed beer in revenue market share for the first time ever, growing from 28.7% in 2000 to 42.1% in 2022, according to the Distilled Spirits Council of the United States. Key trends shaping the industry include the rise of celebrity-backed brands, premiumization of spirits and ready-to-drink cocktails, the popularity of no- and low-alcohol drinks, conscious consumerism, and supply chain and inflationary issues.

via CNBC|

#business #celebrity-brands #liquor-industry

beauty-market2 years ago•8 min saved

"Forecasting the Future of Beauty in 2023"

The beauty market is expected to reach $580 billion by 2027, growing by a projected 6 percent a year. The premium beauty tier is projected to grow at an annual rate of 8 percent, as consumers trade up and increase their spending, especially in fragrance and makeup. E-commerce in beauty is expected to continue to be the fastest-growing sales channel, at 12 percent per year between 2022 and 2027. The rise of wellness, the influence of Gen Z, the imperative to scale, and the recalibration of M&A are the five disruptive themes that will shape the beauty industry in the coming years.

via McKinsey|

#beauty-industry #beauty-market #e-commerce

business2 years ago•6 min saved

MGP Ingredients Acquires Penelope Bourbon in Bold Move

MGP Ingredients' subsidiary, Luxco, has agreed to acquire Penelope Bourbon and its related assets for $105 million in cash, with potential earn-out contingent consideration of up to $110.8 million if certain performance conditions are met. The acquisition is expected to enhance MGP's presence in the growing American Whiskey category and expand its portfolio of premium-plus price point brands. The transaction is anticipated to close in June 2023 and is expected to be immediately accretive to Branded Spirits segment gross margin and consolidated adjusted basic earnings per share after close.

via GlobeNewswire|

#acquisition #american-whiskey #business