Liquor & Spirits
Category intelligence on spirits in duty-free. Scotch, tequila, cognac, premiumisation, gifting dynamics, and merchandising strategy.
Two Theories of Travel Retail. One Brutal Stress Test. The ELC vs Diageo Reckoning.
For 12 years, Estée Lauder treated travel retail as a strategic channel and Diageo treated it as a tactical opportunity. The last four quarters tested both theories at once — and the answer will reshape how every brand house bets on airports for the next decade.
The $25B Deal That Wasn't: Why Pernod–Brown-Forman Walked Away (And Who Quietly Cheered)
Pernod and Brown-Forman just terminated their $25B merger talks. The headlines focused on governance and economics. The travel retail story is far more interesting — and explains who was secretly relieved.
The $30 Billion Spirits Power Play How Pernod Ricard × Brown-Forman Could Redefine Duty-Free Economics
In advanced discussions around a “merger of equals.” ; the deal won’t just create a larger spirits company. It will reshape the balance of power across global travel retail.
Premiumisation in Airport Spirits: The $200+ Bottle Opportunity
The average spirits transaction has climbed 30% in five years. How premiumisation is reshaping the category and where the ceiling is.
Travel Retail Exclusives in Spirits: Strategy, Value, and Shopper Response
TR exclusives account for 42% of top Scotch SKUs. The strategy behind exclusives, when they create value, and when they backfire.
Travel Retail Exclusives in Spirits: Strategy, Value, and Shopper Response
TR exclusives account for 42% of top Scotch SKUs. The strategy behind exclusives, when they create value, and when they backfire.
Why Scotch Whisky Dominates Travel Retail — and for How Long?
Scotch accounts for 50% of all spirits sold in global duty-free. But premium tequila is growing at 18–22% a year, Japanese whisky has achieved prestige parity, and travellers under 35 are choosing differently. The honest data on how long Scotch's dominance will last.