Tony Loeb

🍹 The EU postponed tariffs on American whiskey, initially set for March 31, to mid-April 2023, aiming to de-escalate trade tensions with the US. Campari Group will sell its Melbourne, Victoria factory after a 6% sales drop in Australia in 2024, aiming to focus on marketing and sales. Suntory Global Spirits launched Jim Beam Pineapple in the US, a 32.5% ABV bourbon for $20, expanding their flavored range which includes Apple, Peach, Honey, Vanilla, Fire, and Red Stag.

🍴 In Navan, Michael O'Leary, CEO of Ryanair, dined at Luvida restaurant and received a bill with 'extras' akin to Ryanair's customer fees—extra legroom, priority seating, and quiet zone reservation. This humorous incident was shared on the restaurant's Instagram, thanking O'Leary for his visit and playfully noting the added charges.

🍷 GenZ and Millennials are buoying the wine market in Italy and the USA, which together account for 60% of Italian wine sales revenue. The Osservatorio Uiv-Vinitaly revealed that consumers under 44 view wine as a status symbol and prefer premium labels, despite a fourth consecutive year of contraction in Italy and a third in the USA. In the USA, Status Seekers constitute 11% of regular consumers yet generate 24% of the volume and 35% of the sales value. Under 44s in America account for 10% of high-end wine purchases, and in Italy for half, while their loyalty to brands is lower. Millennials and GenZ represent 47% of wine consumers in the USA, defying assumptions they are more abstinent; in fact, young consumers are more likely to drink two or more glasses regularly. Contrary to belief, young Americans are increasing their wine consumption (31%) rather than decreasing it (26%), while in Italy, the trend is more even but young consumers still show a higher propensity to increase (14% vs. 7% for over 44s). The sober curious trend is strong among under 44s, with 60% of American GenZ and 46% of Italian GenZ open to temporary abstinence.