Transcript
Introduction
Zack
Hi, I'm Zack Fuss. Today, we are breaking down Pernod Ricard, a business whose history dates back to 1797. Today, the business is the second-largest global producer of wine and spirits with a portfolio of 17 of the top 100 spirits brands, including Absolut vodka, Beefeater gin, Jameson Irish whiskey, and Malibu rum. The portfolio produces north of EUR 12 billion in sales and generates an impressive 60% gross margin and high 20% operating margin.
To break down Pernod Ricard, I am joined by Swetha Ramachandran, a fund manager at Artemis Investment Management. During this conversation, we explore the interplay between luxury goods and spirits, the post-COVID normalization and consumption trends, including the broader trajectory of the spirits industry, the importance of China and India to the future growth of the business, and the company's acquisition strategy. We hope you enjoy this breakdown of Pernod Ricard.