Brett Fleming: ‘Looking Back, Forging Ahead’
We continue our summer Q&A series with Brett Fleming, MD of Armit Wines.
How has business been for you in the first half of 2024 and how do things compare to where you were last year?
There is optimism certainly and we are seeing continued growth in the premium on-trade as a result of our focus two years ago now playing out. One core difference to last year is we now have a new government that has an agenda of increased taxation, no matter the rhetoric. Quite how this plays out in terms of disposable income is anyone’s guess.
How has the cost-of-living crisis played out across the year and what – if anything – have you been able to do to mitigate that?
It has not gone away. Prices are not falling back and despite inflation falling, prices remain high. Retail has seen the biggest impact, but this has been offset by increased premium on-trade activity. Additionally, we need more of the wealthy tourists to return to London and the lack of gaining VAT back by these visitors is not helping occupancy rates in London particularly.
What are you most proud of achieving this year? Have you managed to achieve any specific goals?
On boarding some new agency producers we targeted three years ago. Pian del Orino being the most obvious to complement Marroneto and Sesti, but also working with the Perse latitudes family (Château Pavie) developing the Esprit de Pavie project. This has been a real success and shows the value of true collaborative partnerships in distribution.
And what is the biggest cause for concern?
The team at Armit have turned the business around despite the pandemic, Brexit issues, cost-of-living crisis, change in government, climate change impacts in frost and hail… the list goes on. But I am sure we can cope with whatever the future throws at us.
Specifically, what will be the likely impact on your business of the planned end of the temporary easement on wine duty on 1 February 2025?
The need to focus on the premium end of the sector is key as the impact in percentage terms on high priced bottles is less impacted than on an entry level wine. For sure the new government will look to the wine industry to tax further and this is a concern.
What are the biggest drinking trends at the moment, and how do you expect that to change going into the autumn?
As a fine wine business, it is harder for us to comment on a wider national trend, but we are seeing increasing demand for Italian premium producers particularly in on-trade.
Any other predictions for the second half of the year?
We are seeing renewed interest in some top end new world producers – Rockford from Australia and Beaux Freres from the US for example – and that is illustrative of people looking outside of the Old World. Indications are this is growing and will continue. Germany is also another area to watch. One only needs to see the increase in price on the GG wines to see this being played out.
Quick fire questions…
France, Italy or Spain? Italy
English fizz or Champagne? Champagne
‘Normal’ or ‘natural’ wine? Normal
Brown or white spirits? White but I do like an aged rum
Mixologist or mix it at home? Mix at home
Sharing plates or structured meal? BBQ in summer, large dinner party in winter!
Post-prandial preference? Once everyone has gone, one last glass of red by myself in the garden
Desert island treat? Eighteen holes of golf with three friends and a great dinner afterwards
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