“Revenge conviviality” is pushing Americans out to bars and restaurants in the post-pandemic era, boosting sales of Davide Campari-Milano NV’s signature Aperol-based aperitifs as well as its bourbons and tequilas.
(Bloomberg) — “Revenge conviviality” is pushing Americans out to bars and restaurants in the post-pandemic era, boosting sales of Davide Campari-Milano NV’s signature Aperol-based aperitifs as well as its bourbons and tequilas.
Campari this week reported better-than-expected quarterly sales, defying a slowdown in US demand that’s hit rivals including Remy Cointreau SA.
The post-pandemic going-out trend “is alive and doing well,” Chief Executive Officer Bob Kunze-Concewitz said Thursday in a Bloomberg TV interview. But it also marks a shift away from at-home consumption, the 56-year-old CEO said, as consumers have “plateaued on what they’re having at home, or it is slightly down, and now they’re actually going out.”
Kunze-Concewitz of Davide Campari-Milano NV on Bloomberg
That’s played out well for Campari, whose brands include bitter Aperol, Espolon tequila and Wild Turkey bourbon, the CEO said, while hurting producers of premium drinks like cognac.
Kunze-Concewitz also said Campari remains on the hunt for acquisitions after buying US Distiller Wilderness Trail last year. The drinks company is focused on producers of premium spirits brands in the US and Asia, he said.
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