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Major Spirits Brands Are Sitting on a Massive $22 Billion Glut of Unsold Inventory: Report [Yahoo! Finance]

Brown Forman Inc Class A (BF.A) 
Company Research Source: Yahoo! Finance
a recent report from the Financial Times , And it's not just whiskey (and whisky): Brands that make Cognac, tequila, and rum are dealing with this issue as well and will likely be forced to cut prices (not exactly a bad thing for consumers, it should be noted). Five major drinks companies— Diageo Pernod Ricard , Campari, Brown-Forman , and Remy Cointreau—together are sitting on about $22 billion worth of aged spirits, which is the largest amount of unsold inventory they've had in a decade, the new report says. While the debate continues about what exactly might be causing this glut, the article points to the pandemic when people were drinking a lot more at home (understandably) and producers were encouraged to increase production. Still, considering that many whiskies, particularly scotch, are aged for at least 10 years, there is something more to the story. More from Robb Report Jimmy Stewart and Dean Martin Both Owned This $12 Million SoCal Ranch Tony Stark's One-Off Acura N Show less Read more
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