Latest news with #Amarone
Telegraph
21-04-2025
- Business
- Telegraph
Majestic pulls wines from shelves after tax raid makes them unprofitable
Majestic has axed wines from a string of small vineyards after a shake-up of alcohol tax rates made them unprofitable. John Colley, chief executive at the wine retailer, said the retailer had pulled a number of wines from its shelves in the wake of new rules which came into effect in February. He said: 'Typically you would range some of these wines for consumers because they love them. But it becomes much more a commercial decision with the changes being brought in. That's the sad thing.' Under previous rules, wines between 11.5pc and 14.5pc ABV (alcohol by volume) attracted the same tax rate. Under the new system, the tax due on them is calculated based on their individual strength, making some wines much more expensive and creating a mountain of extra paperwork for retailers. Mr Colley said: 'If you've got something that just doesn't make sense because the volumes are so small and the cost of administration [has risen], there's an impact. You just can't make any money from doing it. 'We've spent hundreds of hundreds of thousands of pounds on systems just to manage it, it's that complex.' It follows warnings from Mr Colley last year year that some of shoppers' favourite wines 'could increase in price, or at worst disappear from shelves altogether' because of the changes. The shake-up of alcohol duties was the brainchild of former prime minister Rishi Sunak, but was pushed through by the current Labour Government despite fierce lobbying from industry. Mr Colley insisted the changes would not be noticeable to most shoppers unless they were specifically seeking out wines that had been delisted. He said: 'We still have over 1,300 in our offering. The added advantage that we have in Majestic is we've got trained and qualified experts, so if we haven't got a specific Amarone that they were after, we have got an alternative.' Founded in 1980, Majestic runs 213 wine stores on British high streets. The company has been expanding its presence across the country, and last week completed a deal to buy the drinks wholesaler Enotria & Coe, which suppliers restaurants and retailers with high-end wines. This followed its acquisition of bar group Vagabond Wines last year. Mr Colley said the company planned to keep opening retail stores, but warned the barrage of tax increases levied on businesses this month meant 'we're having to be a little bit more picky about types of shops for opening', singling out the rise in employers' National Insurance contributions. He said: 'It's not insignificant. We've had to cut our cloth accordingly within our retail business model. The sad thing is that the changes made affect workers.' A government spokesman said: 'The alcohol duty reforms have modernised and simplified the duty system, prioritising public health and incentivising consumption of lower strength products. 'We continue to work closely with the wine sector to drive growth, support high-quality jobs and identify opportunities to export the UK's fantastic wines across the world.'
Trade Arabia
21-04-2025
- Business
- Trade Arabia
Triple appointments strengthen leadership at Mövenpick
Grand Plaza Mövenpick Media City Dubai has made three leadership changes, including the appointment of a new expert and a new internal talent. These appointments aim to strengthen sales, food and beverage, and rooms operations, aiming to accelerate revenues, increase guest satisfaction, and meet emerging market demand across Dubai's business sectors. Nandini Vohra: Director of Sales moves into the role of Director of Sales following a period of exceptional performance. Since her promotion, she has consistently surpassed budgets and exceeded revenue forecasts across all business segments. She leads a growing team overseeing corporate, leisure, and groups. Under her wing, meetings and events have been consistently fully booked since, driving strong momentum across conference and social business. Q1-2025 marked the highest M&E revenues since the hotel's opening. Her leadership continues to secure long-term partnerships and high-value clients. Vohra remains focused on reinforcing key accounts and sustaining commercial performance across the year. Marco Amarone: Director of Food & Beverage Amarone is promoted to Director of Food and Beverage, leading the hotel's four restaurants and expansive banqueting operations. His strategic oversight delivered record-breaking results during Ramadan, one of Dubai's most competitive dining seasons. Iftar revenues outpaced the previous year by mid-month, showcasing exceptional commercial performance. He launched new seasonal menus, introduced timely F&B promotions, and expanded outside catering initiatives. Guest feedback and repeat bookings confirmed strong demand across social and business dining. Banqueting experiences were notably enhanced under his leadership, raising service standards and quality expectations. Amarone now continues to oversee consistent delivery across dining and event touchpoints. Sudheesh Surendran: Rooms Division Manager Surendran joins Grand Plaza Mövenpick Media City Dubai as the new Rooms Division Manager. He brings experience from Accor's Fairmont and Pullman brands and now oversees front office, housekeeping, and spa operations. Since his arrival, the hotel's online reputation score has significantly improved due to strengthened guest engagement. He introduced efficiency measures that enhanced front office flow and optimised daily room operations. Guest satisfaction rose within Q1. Surendran's leadership ensures streamlined service without compromising the hotel's signature warmth. His attention to quality control and operational precision continues to enhance the guest experience. -TradeArabia News Service
Yahoo
06-04-2025
- Business
- Yahoo
Trump's 20% tariff clouds future of Italian wines in US
By Sara Rossi VERONA, Italy (Reuters) - The outlook for Prosecco, Brunello di Montalcino and other Italian wines in the United States is increasingly gloomy, producers and importers said, following President Donald Trump's imposition of a 20% tariff on European imports. Italy exports more wine to the U.S. than any other country. Last year, it sold 2 billion euros ($2.2 billion) worth of wines, spirits and vinegars in the U.S. market, a quarter of its total worldwide exports, according to trade group Federvini. Italian producers and U.S. importers gathered at a wine fair in Verona, in the north-eastern Veneto region this weekend, said business had already been hit by the fear of U.S. tariffs and things could only get worse as they come fully into effect. Under the announced levies, Italian wine revenues would fall by some 323 million euros per year, said Lamberto Frescobaldi, chairman of the Italian Wine Union lobby. Wine traders and producers are pinning their hopes on a deal between Europe and the U.S. to scrap or reduce the tariffs. "Hopefully, the EU will not retaliate - a trade war would be difficult to navigate," Simone Luchetti, president of U.S. importer Banville, told Reuters at the Vinitaly fair in Verona. While the sector was spared the 200% tariff Trump had threatened to impose, it remains a threat if European counter-measures target U.S. spirits, such as bourbon whiskey. CONSUMPTION TO PLUNGE Luchetti - who imports Brunello, Amarone, Prosecco and Barolo among others - estimated a 25-35% drop in U.S. consumption and in Banville's revenues under current tariffs. Other importers warned that some wine brands would disappear from the U.S. market as consumers looked for cheaper bottles. "If the price of a wine increases, consumers will probably leave that brand. They will rather stay within their preferred price range," said Charles Lazzara, founder of U.S. buyer Volio Imports. Under the announced levies the cost of a bottle of mid-range Prosecco, Lazzara said, would rise from $10.99 to $12.99 in U.S. shops. Luchetti echoed those concerns. "It will probably become difficult to sell Prosecco bottles which today cost $14-18 because their price will rise to $20," Luchetti said. The U.S. tariffs also worried Italian producer Marilisa Allegrini, founder of the Marilisa Allegrini Group, which produces 840,000 bottles per year, including Brunello di Montalcino, Bolgheri, Valpolicella and Amarone. "Wine consumption in the U.S. was already in crisis, and tariffs have hit it further," she said. Some Italian producers, however, were more upbeat, saying U.S. drinkers love Italian wines and are unlikely to replace them with cheaper alternatives, despite the tariffs. "Prosecco can only be produced in Italy, especially in Veneto - it can't be replaced!" said Giancarlo Moretti-Polegato, owner of Villa Sandi, a prosecco producer based in the hills of Montebelluna, in the Veneto region.($1 = 0.9059 euros)
Yahoo
06-04-2025
- Business
- Yahoo
Trump's 20% tariff clouds future of Italian wines in US
By Sara Rossi VERONA, Italy (Reuters) - The outlook for Prosecco, Brunello di Montalcino and other Italian wines in the United States is increasingly gloomy, producers and importers said, following President Donald Trump's imposition of a 20% tariff on European imports. Italy exports more wine to the U.S. than any other country. Last year, it sold 2 billion euros ($2.2 billion) worth of wines, spirits and vinegars in the U.S. market, a quarter of its total worldwide exports, according to trade group Federvini. Italian producers and U.S. importers gathered at a wine fair in Verona, in the north-eastern Veneto region this weekend, said business had already been hit by the fear of U.S. tariffs and things could only get worse as they come fully into effect. Under the announced levies, Italian wine revenues would fall by some 323 million euros per year, said Lamberto Frescobaldi, chairman of the Italian Wine Union lobby. Wine traders and producers are pinning their hopes on a deal between Europe and the U.S. to scrap or reduce the tariffs. "Hopefully, the EU will not retaliate - a trade war would be difficult to navigate," Simone Luchetti, president of U.S. importer Banville, told Reuters at the Vinitaly fair in Verona. While the sector was spared the 200% tariff Trump had threatened to impose, it remains a threat if European counter-measures target U.S. spirits, such as bourbon whiskey. CONSUMPTION TO PLUNGE Luchetti - who imports Brunello, Amarone, Prosecco and Barolo among others - estimated a 25-35% drop in U.S. consumption and in Banville's revenues under current tariffs. Other importers warned that some wine brands would disappear from the U.S. market as consumers looked for cheaper bottles. "If the price of a wine increases, consumers will probably leave that brand. They will rather stay within their preferred price range," said Charles Lazzara, founder of U.S. buyer Volio Imports. Under the announced levies the cost of a bottle of mid-range Prosecco, Lazzara said, would rise from $10.99 to $12.99 in U.S. shops. Luchetti echoed those concerns. "It will probably become difficult to sell Prosecco bottles which today cost $14-18 because their price will rise to $20," Luchetti said. The U.S. tariffs also worried Italian producer Marilisa Allegrini, founder of the Marilisa Allegrini Group, which produces 840,000 bottles per year, including Brunello di Montalcino, Bolgheri, Valpolicella and Amarone. "Wine consumption in the U.S. was already in crisis, and tariffs have hit it further," she said. Some Italian producers, however, were more upbeat, saying U.S. drinkers love Italian wines and are unlikely to replace them with cheaper alternatives, despite the tariffs. "Prosecco can only be produced in Italy, especially in Veneto - it can't be replaced!" said Giancarlo Moretti-Polegato, owner of Villa Sandi, a prosecco producer based in the hills of Montebelluna, in the Veneto region.($1 = 0.9059 euros)
Reuters
06-04-2025
- Business
- Reuters
Trump's 20% tariff clouds future of Italian wines in US
VERONA, Italy, April 6 (Reuters) - The outlook for Prosecco, Brunello di Montalcino and other Italian wines in the United States is increasingly gloomy, producers and importers said, following President Donald Trump's imposition of a 20% tariff on European imports. Italy exports more wine to the U.S. than any other country. Last year, it sold 2 billion euros ($2.2 billion) worth of wines, spirits and vinegars in the U.S. market, a quarter of its total worldwide exports, according to trade group Federvini. Italian producers and U.S. importers gathered at a wine fair in Verona, in the north-eastern Veneto region this weekend, said business had already been hit by the fear of U.S. tariffs and things could only get worse as they come fully into effect. Under the announced levies, Italian wine revenues would fall by some 323 million euros per year, said Lamberto Frescobaldi, chairman of the Italian Wine Union lobby. Wine traders and producers are pinning their hopes on a deal between Europe and the U.S. to scrap or reduce the tariffs. "Hopefully, the EU will not retaliate - a trade war would be difficult to navigate," Simone Luchetti, president of U.S. importer Banville, told Reuters at the Vinitaly fair in Verona. While the sector was spared the 200% tariff Trump had threatened to impose, it remains a threat if European counter-measures target U.S. spirits, such as bourbon whiskey. CONSUMPTION TO PLUNGE Luchetti - who imports Brunello, Amarone, Prosecco and Barolo among others - estimated a 25-35% drop in U.S. consumption and in Banville's revenues under current tariffs. Other importers warned that some wine brands would disappear from the U.S. market as consumers looked for cheaper bottles. "If the price of a wine increases, consumers will probably leave that brand. They will rather stay within their preferred price range," said Charles Lazzara, founder of U.S. buyer Volio Imports. Under the announced levies the cost of a bottle of mid-range Prosecco, Lazzara said, would rise from $10.99 to $12.99 in U.S. shops. Luchetti echoed those concerns. "It will probably become difficult to sell Prosecco bottles which today cost $14-18 because their price will rise to $20," Luchetti said. The U.S. tariffs also worried Italian producer Marilisa Allegrini, founder of the Marilisa Allegrini Group, which produces 840,000 bottles per year, including Brunello di Montalcino, Bolgheri, Valpolicella and Amarone. "Wine consumption in the U.S. was already in crisis, and tariffs have hit it further," she said. Some Italian producers, however, were more upbeat, saying U.S. drinkers love Italian wines and are unlikely to replace them with cheaper alternatives, despite the tariffs. "Prosecco can only be produced in Italy, especially in Veneto - it can't be replaced!" said Giancarlo Moretti-Polegato, owner of Villa Sandi, a prosecco producer based in the hills of Montebelluna, in the Veneto region. ($1 = 0.9059 euros)
