LVMH’s Moët Hennessy and Italy’s Campari have recently announced their partnership, with the aim of investing in e-commerce companies that specialize in wines and spirits. The ultimate goal is to establish a dominant player in the European wines and spirits e-commerce sector. Although the deal is still awaiting regulatory approval, it involves the transfer of Campari’s stake in online wines and spirits company Tannico to a newly created joint venture.

As part of this agreement, Campari will sell 50% of the joint venture’s equity capital to Moët Hennessy for a cash amount of 25.6 million euros ($30 million). This strategic move exemplifies the rising importance of e-commerce in the wines and spirits industry. The global pandemic has further propelled the shift towards online purchasing channels, making this partnership highly opportune.

Moët Hennessy CEO Philippe Schaus expressed his excitement for this venture, highlighting that e-commerce has been a growing channel for wines and spirits even prior to the pandemic. However, the current crisis has significantly accelerated this trend. By collaborating with Campari and leveraging their respective expertise, Moët Hennessy aims to capitalize on the rapidly expanding e-commerce market and reinforce its position within the sector.

The joint venture will be led by Marco Magnocavallo, the current CEO of Tannico. In addition to his role as head of the venture, Magnocavallo will also retain a minority stake in the business. Tannico primarily operates in the B2C (business-to-consumer) space and holds a majority stake in Ventealapropriete.com, a renowned e-commerce platform specializing in selling premium wines and spirits in France. In 2020, Tannico and Ventealapropriete.com collectively generated sales exceeding 70 million euros.

The collaboration between Moët Hennessy and Campari signifies a strategic move to tap into the thriving e-commerce market within the wines and spirits industry. This partnership not only strengthens their online presence but also offers consumers a seamless and comprehensive shopping experience for premium wines and spirits. As the world increasingly embraces digital platforms for shopping, this joint venture is poised to make a significant impact in the European market and beyond.

Useful links:
LVMH Official Website
Campari Official Website