Constellation in talks with Gallo to sell low-end brands

[jswordy]

Hmmm... "In the year leading up to this past November, sales of wines below $9 at retail dropped by 9 percent, according a closely watched report by Silicon Valley Bank."

https://www.cnbc.com/2019/03/15/cor...-nearing-a-deal-to-sell-some-wine-brands.html

 

[ibglowin]

"Sales of non-premium wine have slowed, as millennials focus increasingly on health and alternative indulgences like cannabis. When millennials do drink, they increasingly turn to premium wine or other drinks like spirits and craft beer."

Perhaps Millennials don't like crap wine after all!

 

[jswordy]

"Sales of non-premium wine have slowed, as millennials focus increasingly on health and alternative indulgences like cannabis. When millennials do drink, they increasingly turn to premium wine or other drinks like spirits and craft beer."

Perhaps Millennials don't like crap wine after all!

"Millennials aren't engaging with wine as hoped. They lack financial capacity, currently prefer premium spirits and craft beers, and have been slow getting into careers," the report noted.

 

[heatherd]

Too many student loans!!

 

[jswordy]

And Constellation DID sell the wine brands to Gallo, for $1.7 billion. That's below the estimated $3 billion initial price. Good riddance. The stock rose the day they were sold off.

 

[Boatboy24]

"Millennials aren't engaging with wine as hoped. They lack financial capacity, currently prefer premium spirits and craft beers, and have been slow getting into careers," the report noted.

They lack financial capacity, but prefer premium spirits?

 

[olusteebus]

Sold at about half what they initially asked for.

 

[bstnh1]

They lack financial capacity, but prefer premium spirits?

What they lack is incentive and energy. They want everything done for them.