Moët Hennessy and Campari Group have teamed up to create a European e-commerce wine player

Bernard Arnault is at the helm of the LVMH luxury group, which controls Moët Hennessy. Moët Hennessy and Campari Group are partnering to create a joint venture and their aim is focused on investing in Wine & Spirits e-commerce companies as well as building a European player specialized in this channel, which in 2020 has registered an enormous surge in business volume. The Campari Group will participate in the joint venture through its channel, TANNICO, focused on online sales of wines and premium spirits, which is 30% of this segment. The creation of the joint venture provides for selling 50% of the capital of the joint venture itself from Campari Group to Moët Hennessy, totaling, in cash, 25.6 million euros, and the deal is expected to be finalized and signed after completing all the customary authorizations.
A few weeks ago, Tannico purchased a majority share in VentealaPropriete.com, which is an important e-commerce platform that sells premium wines and liquors throughout France. These two groups, today, complement each other considering their levels of business models, geographical presence, technology, and marketing and logistical skills. At the aggregate level, the two companies have generated sales for over 70 million euros in 2020. Therefore, the joint venture between Campari and Moët Hennessy is focused on building a pan-European high-end e-commerce player that will support and be in favor of all the wine and spirit brands and their European consumers. An experienced managerial team will administer the new joint business, headed by Marco Magnocavallo, CEO of TANNICO, who remains a key minority shareholder in the business.
“This partnership”, said Philippe Schaus, president and CEO of Moët Hennessy, “has meant that a significant step forward has been taken in our e-commerce strategy, which was already a growing channel for wines and liqueurs, while, instead, the global pandemic has helped it grow in an even more substantial manner. We are, therefore, pleased to collaborate with Campari Group and Tannico to create a pan-European premium player in the Wine & Spirits e-commerce channel”. Bob Kunze-Concewitz, CEO of Campari Group, agreed and commented, “we are very pleased to collaborate with Moët Hennessy to become a pan-European premium player in the Wine & Spirits e-commerce channel through TANNICO. After TANNICO completed the first transforming step through the acquisition of Ventealaproprieto.com, and thanks to this agreement, the aim of the new partnership is to continue to grow, by further strengthening its presence and competence in the online retail of Spirits & Wine”. Finally, Marco Magnocavallo, CEO of Tannic, commented emphasizing that through “the joint support of Moët Hennessy and Campari Group, Tannico will have the means to consolidate the fragmented sector of European e-commerce and constitute a relevant and integrated access channel on the market, which will satisfy the needs of all its wines and spirits suppliers”.