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Moët Hennessy partners with Campari

Moët Hennessy partners with Campari

Champagne and spirits brand Moët Hennessy, a subsidiary of LVMH, has teamed up with Italian beverage maker Campari for a wine and spirits e-commerce project.

 

Moët Hennessy, a brand in the LVMH portfolio, has announced that it will work with Italy’s Campari to invest in wine and spirits e-commerce businesses in order to found Europe’s leading player in this field.

 

The two groups unveiled their collaboration through a press release. Campari will transfer its stake in the online wine and spirits company Tannico to finance a new co-managed company.

 

The agreement also includes the sale of half of Campari‘s capital to Moët Hennessy, for a price of 25.6 million euros. The reins of the new company will be entrusted to the current CEO of Tannico, Marco Magnocavallo, one of the most important minority shareholders of the new company.

 

“While e-commerce was already a growth channel for wines and spirits, the global pandemic has triggered a significant acceleration,” explained Philippe Schaus, CEO of Moët Hennessy.

 

Tannico has a 90% B2C business and is also a shareholder in the online wine and spirits trading platform Ventealapropriete.com, a web platform for the sale of luxury wines and spirits.

 

According to data provided by Reuters, the two companies, Tannico and Ventealapropriete.com, generated revenues of nearly 70 million euros in 2020.

See Also

 

 

Read also >  MACALLAN FIELD AND BENTLEY JOIN FORCES TO ACHIEVE CARBON NEUTRALITY

 

 

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