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...The DeLeón joint venture came about in 2013, when Combs introduced Diageo’s North America president to the tequila, which was popular in Los Angeles clubs....
...Diageo has appointed the former chief executive of the UK civil service as chair, after a difficult year in which the drinks giant’s sales in Latin America slumped, triggering a 15 per cent tumble in its...
...Global drinks giant Diageo reported a drop in spirits sales on the back of a slump in Latin America that led it to issue a shock profit warning late last year.Net sales fell 1.4 per cent in the six months...
...This led to a slump in sales of more than 20 per cent in Latin America. Analysts were unimpressed by Diageo chief executive Debra Crew’s initial handling of the warning....
...Excluding the impact of the Latin America issue, net sales grew 0.7 per cent. Diageo’s shares fell by almost 4 per cent on Tuesday morning....
...Diageo has warned that operating profits will decline in the first half of 2024 on the back of an anticipated sales slump in Latin America and the Caribbean....
...There is no suggestion of Diageo channel stuffing in Latin America, rather some analysts point out that wholesalers in Latin America would have good reason to stockpile spirits — as an inflation and currency...
...On Friday, Debra Crew, in charge only since June, had to admit that drinks group Diageo had an inventory problem in its fastest-growing region, Latin America and Caribbean (LAC)....
...At its last trading update in August, Diageo reported higher than expected inventory levels in Latin America and sales growth of 20 per cent in the first six months of 2023....
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...Diageo: Shares lost 3.6 per cent after the company missed first-half sales estimates, dragged by weak turnover in Latin America...
People in the US are being squeezed to such an extent that they are spending less altogether
...Spirits makers have struggled for years to secure enough agave as tequila demand surged to record highs in North America....
...Scotch was another high point for the spirits giant, with more women and young people choosing whisky, particularly in Latin America, said Chandrashekar....
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...Diageo: Shares plunged 11.4 per cent in early trade, making Diageo the biggest loser in the European Stoxx 600 index, after it warned of slowing growth in profits due to a sales slump in Latin America and...
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...Latin America and the Caribbean....
...Its owner Diageo has invested more than six years and many millions into the rebuild (the only figure Diageo will share is the £35mn combined cost of resurrecting Port Ellen and Brora it announced back in...
...Diageo has appointed John Manzoni, the former head of the UK civil service, as chair from February next year. He will replace Javier Ferrán....
...Escobar Inc, a company set up by his brother Roberto, had filed an application in 2021 with the European Union Intellectual Property Office (EUIPO) to register “Pablo Escobar” as a trademark for goods and...
...He was charged with overseeing the merger, and went on to hold a series of senior roles, including president of North America and chief operating officer, before his promotion to the top job....
...Diageo this month announced the death of its outgoing chief executive Ivan Menezes. Debra Crew, who previously ran Diageo’s North America operations has now started in the role....
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