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For shareholders invested in global wine and spirits companies, 2021 has been an excellent year. The share prices of Diageo, Pernod Ricard, LVMH, Rémy Cointreau, Davide Campari Milano, Treasury Wine Estates, Constellation Brands and Brown Forman rose by a combined 28 per cent. They thus clearly beat the indices of the Frankfurt, London and New York stock exchanges.
LVMH recorded the highest increase with a rise of 42 per cent, followed by Davide Campari Milano with 39.5 per cent, Diageo with 36 per cent and Pernod Ricard and Remy Cointreau with 35 per cent each. LVMH (Louis Vuitton Moët Hennessy) is also Europe's largest company by market value and benefited disproportionately from the good performance of the luxury goods division.
The American groups Constellation Brands and Brown-Forman (down eight per cent) did less well than their European competitors. However, their shares had already risen rapidly in 2020, and in 2021 they suffered in part from the weaker development of the spirits sector, distribution difficulties in the retail trade and the customs dispute between the USA and the EU. At the same time, investors apparently allow the industry to react to changes and adapt to new demand patterns.
(al / source: drinksbusiness; photo: pixabay)
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