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Torula News

Global News & Headlines

1999: January   1998  

31/01/99 Clients of Bar 1 in Oslo rate Cognacs. Click here for the latest results. http://www.bar1.no/Norsk/Cognac_test/cognac_test.html
30/01/99 Cognac A. Hardy continues to operate under French judicial system while searching for a solution. American buyers are still interested. Clients, time and Cognac market conditions demand quick solution.
28/01/99 Following tradition dated back to 1697 when Folle Blanche grapes first appeared in the Cognac region, Cognac Gautier (a member of Marie Brizard Group) has recently introduced Madame France Exclusif Cognac that is more than 40% Folle Blanche eaux-de-vie from Petite Champagne. It is a very light, soft and flowery Cognac at 40% volume, packaged in a Top Model bottle with a label reminiscent of a front page of Madame Figaro magazine. Cognac Gautier follows its Pinar del Rio and Panatela success with another hit product.
27/01/99 LVMH, parent of Hennessy, reported 5% overall drop in 1998 revenues. Contributing factor were 13% drop in Cognac and 3% in perfume revenues. On the positive note, LVMH registered 10% increase in Champagne and 24% increase at Sephora chain revenues. (SudOuest27/01/99)
26/01/99 American importer of Hennessy Cognacs refuses to accept "Pure White", their new product especially targeted at American VS market. This time it is not the quality, it is not the packaging but it is the product name and, maybe, its yellowish color. Torula News reported last summer that the choice of the name is highly questionable, especially for the US market. Such errors shouldn't happen at the largest Cognac producer in the world.
26/01/99 Another Cognac trading house is in significant trouble. Tiffon, 100% owned by Braastad family, is in turmoil due to a major revenue drop and related family problems. With 23 employees and revenue dropping from US$14.8 million in 1997 to US$9.1 million, Tiffon netted barely US$175,000 in 1998. New generation of the family has taken over with Philippe Braastad, 42 years old expanding his responsibilities. Selling 20% of Nikka Whisky owned property in Borderies cru might help but without a major restructuring, American style of management and marketing there is little hope for Tiffon. And there are another 8-10 Cognac houses in similar difficulties. (Charente Libre26/01/99, Torula News)
25/01/99 Since 1997 the company, Cyrille Savioz SA of Switzerland, holds the patent-rights on rectangular wine or liquor barrels. This invention of the owner of the company revolutionizes the manufacturing of wine-barrels, as they can be produced on programmable milling machines at a much better price than standard round barrels. The company sells licenses to manufacturers of wine barrels or industrials, who are willing to invest in this new method.For details email: info@cybox.ch  or check this web site:http://www.cybox.ch
25/01/99

MATANZAS UNIVERSITY in CUBA sponsors Second International Alcohol Production Workshop (IAPW´99) on March 29th to April 1st 1999. Among many topics there will be a session on alcoholic beverages production. For further information, contact: Prof. Dr. Marcelo Marcet, Chairman of the Organizing Committee, Department of Chemistry and Chemical Engineering, Matanzas University. Matanzas 44740, Cuba. Fax: 53 52 5 3101, Phone: 53 52 6 1432  Email: umcc@reduniv.edu.cu  or elektron@ceniai.inf.cu 

23/01/99 Roses and a bottle of Cognac were donated by a mysterious person to commemorate the death anniversary of Edgar Allan Poe, poet and writer, last week at the cemetery outside Westminster Church in Baltimore, MD, USA. A tradition since 1949. (IHT20/01/99)
21/01/99 Hennessy will officially introduce Hennessy Pure White on Friday the 22nd at 21:00 in several bars around Francois Ier Place in the City of Cognac. The main introduction is scheduled for midnight at the Maison Blanche, local discotheque. This Cognac is positioned to attract whisky drinkers, it is a very young (2.5 years minimum), very aromatic product that tastes well with a mix (tonic, fruit juice etc.). The choice of the name is strange as the product is not white and it brings memories of racial problems of the past.
20/01/99 A battle between American and French money rages in the City of Cognac at present. The prize is one of the oldest and most traditional trading Cognac house that found itself in trouble recently. Torula News puts its money on the American company to win it. 21/01/99 update: The Cognac house is A. Hardy.
20/01/99 RémyCointereau, parent of Cognac Rémy Martin, divests itself of Krug Champagne. Buyer, of course, is LVMH, parent of Hennessy. Forced divestiture to reduce its enormous debt but a very questionable timing and a product line. Is there a proper business plan at RémyCointreau?
20/01/99 When the fanfares of the BNIC web site opening die down, we salute the makers of this excellent site. They are: Alexandre Girardeau, Benoît Cacquevel, Philippe Adol and Christakis Christodoulou. Torula News is awaiting, like so many non-French Internet users, an English version. Gentlemen, congratulations!
19/01/99 Seagram (parent of Cognac Martell) appoints new presidents responsible for the Spirits Groups in Europe and Africa; and Asia/Pacific. They're respectively, Anthony Frogatt and Winston Mah. (IHT19/01/999)
19/01/99 Seguin-Moreau, former affiliate of Cognac Rémy Martin, cooperage shows very good quarterly results that translate into 15.6% revenue increase in the first nine months of current fiscal year.
16/01/99 Torula News introduces Torula Weekly SSC Index (TWIX). It is based on the publicly (New York, London, Paris) quoted shares of 6 companies that own major Cognac houses. They are Allied Domecq (Courvoisier), Seagram (Martell), Marie Brizard (Gautier), LVMH (Hennessy and Hine), Pernod-Ricard (Bisquit) and RemyCointreau (Remy Martin). TWIX is an indicator of those companies performance and since they represent at least 4 largest Cognac companies, TWIX numbers can be viewed as indicator of financial performance in this business sector. TWIX denomination is Euro.
16/01/99 Pernod-Ricard Group, a parent of Cognac Bisquit, has expanded its UK and Irish distribution network by acquiring Spar and Mace convenience stores. (The Times 09/01/99)
15/01/99 Cognac Frapin Extra changes its packaging into a gold dripping, perfume like shaped bottle that reminds us of so many other Cognac Extra packaging. But what is inside the bottle, is by far the best Extra Cognac available on the market.
15/01/99 The 6th Cognac Blues Passions Festival dates for 1999 are set; 29, 30, 31 July and 1st August 1999. A real proof that Cognac and Blues mix well together ... Come and experience it! For details check: www.bluespassions.com
14/01/99 Although we have covered the opening of the long awaited web site of BNIC www.bnic.fr) on 18/12/98, we can now report that an official opening is scheduled for 18 January 1999. The BNIC web site is also available under an alias name www.the-cognac.com. But an English version is still in works ...
13/01/99 12.2 millions bottles of Pineau des Charentes were sold last year vs. 11.6 million previous year; 9,4 million bottles was sold in France (vs. 8.8 million in '96/'97) and 2,8 millions abroad with Belgium being the number 1 foreign market. At the same time, exports of French wines and spirits increased 6% in 1998. (Sud Ouest 12/01/99, Torula News)
12/01/99 Another series of young Cognacs has hit the stores in France. They are distributed by G.I.E. CAP from La Rochelle under a Cognac S (Seduction, Sensation etc..) banner. Products like Cognac Long Drink from Vallade Fils, VS Fine Petite Champagne Cognac from Gilles Sigogneuad and Cognac Long Drink VS from Jean-Paul Maurin are on the shelves now. Products are priced in the range of FRF80 - 87 at 40% volume. With many competing products available below FRF80, the pricing seems too high.
12/01/99 Latest issue of Cognac Tonik! carries fascinating details of Paul Ronne, famous collector of Cognac items in the Cognac region and many interesting Cognac Cocktails! recipes. Cognac Tonik! is now available for delivery outside of France.
11/01/99 Nicholas Faith, an author of many books on Cognac has just published "Mayday, The Perils of the Waves". A different genre but as well written as his Cognac books. A title of his new book may as well apply to to the Cognac industry(FT10/01/99, Torula News)
11/01/99 Allied Domecq, parent of Cognac Courvoisier officially terminated joint venture and potential merger discussions with Seagram, parent of Cognac Martell. They have also sold their Irish distributor for over half a billion GBP. (FT10/01/99)
10/01/99 New product, FLIRT,  from Jean-Luc Chevrou et Fils is now available on the market in France and for export. It is Cognac based cocktail with fruit juices. It comes in 17 flavors at 17% volume. Torula News tasted all and FLIRT Red Grapefruit won over our taste buds.
10/01/99 www.swfrance.com & the newly established www.cognacnet.com finished 1998 with a record 26075 readers in December. For the year 1998 the combined sites registered over 180000 readers. See the stats.
08/01/99 LVMH makes a run on Gucci empire making its divestment in Diageo a real possibility. Taking over Gucci will be most likely an unfriendly battle. What all this mean for Hennessy? Will we see LVMH acquiring more spirits and Cognac companies or will we see new investment in a  Hennessy brand. Torula News believes that Bernard Arnoult and LVMH will build a strong wine and spirits group in the next 12 to 18 months. They will also expand the usage of Hennessy as a brand name into other products. (IHT 07/01/99, Torula News)
07/01/99 Titti Rundstrom (Cognac@Internet) returns with good words for www.bnic.fr, www.cognac-larsen.fr and more ... Latest pictures from Les Bouilleurs de Cru de la Région d'Appellation Cognac Portes Ouvertes / Open Doors in the Cognac region are up. Check it out!
05/01/99 Michel Rouyer-Guillet, a good friend of Torula News, passed away recently, at age 75. It was only a few months ago, in the early autumn, that we sat in his kitchen and tasted his exquisite collection of porto while reminiscing of the past years; his mother, ups and downs of his relation with the CCG, his aged warehouses and vineyards, his ideas of going back into Cognac bottling again. And upstairs, in his fully equipped and automated office, we talked about Internet, digital photography and the state of the Cognac industry. Although we have not made it to the lunch at the golf course, we have opened 1875 bottle of Cognac Rouyer-Guillet in memory of Michel. Good bye, old friend.
04/01/99 New European currency, Euro, starts trading today. The exchange rates were fixed as follows: 1 Euro = USD1.17, JPY132.8, GBP0.705, ATS13.76, BFR40.34, DGU2.20, FMA5.95, FRF6.56, DEM1.96, IRL0.79, ITL1,936.27, LFR40.34, PES200.48, PST166.39 but is the eaux-de-vie industry ready to trade in Euros? Check rate details at http://europa.eu.int
02/01/99 Bernard Arnoult, Chairman of LVMH, a parent of Hennessy is resigning from Diageo, the world's largest liquor company. Will LVMH cut its shareholding in Diageo? How will this affect Hennessy? (IHT01/01/99, Torula News)
01/01/99 Courtesy of a well-known international collector of wines and Cognac, Mr. Simon Goode of London, UK, Torula News had an opportunity to review the first postwar edition of "The Complete Year Book of French Quality Wines, Spirits & Liqueurs". It's a magical book. For more click here.
01/01/99 www.eBay.com which auctions over 1 million items has many items on the theme of Cognac starting (on a recent e-visit) below USD2. Check it out.
01/01/99 36 Cognac, Pineau des Charentes, wine and local merchants welcome visitors to Portes Ouvertes (Open Doors) in Grande Champagne - 1er Cru du Cognac on 9 and 10 January 1999.
01/01/99

"Beginning this week, Rhode Island joins 22 other states allowing the online and mail-order purchase of beer, wine, and liquor." (Wired News 31/12/98)

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