Spirits. 1. Turkey shall recognize “Pisco” as a Chilean geographical indication for spirits, within the meaning of paragraph 1 of Article 22 of the TRIPS Agreement. Turkey shall not permit the sale of any product as “Pisco”, unless it has been manufactured in Chile, according to the laws of Chile governing the manufacture of “Pisco”. This shall not prejudice the rights that Turkey may recognize, in addition to Chile, exclusively to Peru with respect to “Pisco”.
Spirits. Determine alcohol strength. Determine quantity of liquid and alcohol present. Determine percentage obscuration. Determine alcohol content of composite goods. Determine the original gravity of wort or wash. Verify that goods are eligible for exemption from duty under the Alcoholic Liquor Duties Act 1979 Act (XXXX Section 7 – ‘spirits used for medical purposes’). Identify other products eligible for remission of duty (XXXX Section 11 – ‘goods imported not for human consumption’).
Spirits. Alcoholic beverage derived from the distillation of a fermented liquor. Sometimes aged in wooden casks. Alcohol by volume does not normally exceed 55%.
Spirits. Both parties agreed to apply a duty free regime from the entry into force of this Agreement for goods falling within CN codes 2208 50, 2208 60 and 2208 90.
Spirits. Xxxxx is considered as a leading producer of aquavit23 and a leading player in the Nordic spirits market24. In addition to the Nordic countries, Germany is also considered a home market. In Germany, Xxxxx has a relatively small, but profitable, aquavit product business and sees growth potential going forward. Arcus brands represented approximately 85 percent of the Sprits segment’s operating revenue in 2019, not including revenue contribution from AP, with the remaining 15 percent generated through the sale of partner brands. Braastad cognac supplied by Tiffon S.A is included in the share of Arcus brands. The Spirits segment develops and markets branded spirits products of which a major share consists of traditional Nordic products with long histories and heritage, supplemented by selected brands within the cognac and vodka categories. Arcus also has own brands within a number of other spirits categories. In addition to the segment’s own brands, Arcus imports and distributes a considerable number of third-party brands through agency agreements. The major share of Arcus’ own brand sales are Norwegian and Danish aquavit products, however vodka, bitter and gin products are also important product categories. Arcus also has own brands within the whisky and grape spirits (cognac and xxxxxx) categories, where spirits are imported, bottled and blended at Arcus’ production facilities at Gjelleråsen. In addition, Xxxxx owns 34.75 percent of the French cognac producer Xxxxxx S.A. Arcus also has a number of agency agreements with international spirits producers from a number of different countries, of which Great Britain, France, Canada, Ireland and the United States are the largest. When competing for the most attractive agencies, Arcus’ competencies and industry expertise in the Nordic monopoly markets is an important competitive advantage. In addition, the management of Arcus believes that Arcus’ pan-Nordic platform, with a dedicated HoReCa sales force in all markets, is highly attractive for the international producers as the Nordic market, on an aggregate level, is a relatively large and attractive market from an international perspective, while individually the markets are relatively small and not as attractive. The Spirits business segment is managed from Norway with centralised sales, marketing and product development at Gjelleråsen outside of Oslo, with the Danish brands managed by the Danish organisation.
Spirits. The key trends seen in the Norwegian spirits market include a shift from mid-priced alternatives towards super-premium, premium or value brands, as well as, a shift towards lower ABV alcoholic drinks. In Sweden, there has been an increased interest for organic spirits in recent years. In Denmark, new flavours of spirits and low ABV shots have experienced increased interest. Arcus sees growth potential in increasing speed and innovation to quickly adapt to new emerging trends and positioning itself to capitalise on new market developments. Xxxxx is enjoying a strong position as a leading global aquavit producer and sees considerable growth potential in introducing the aquavit and bitter product categories to selected markets where they currently receive little attention. During in the second quarter of 2020, revenue has increased in all monopoly markets as sales shifted from border channels to domestic retail. In Norway, Sweden and Finland revenue increased in the double digits compared to the previous year. Despite the strong growth in the monopoly markets, the organic growth on external sales was negative by 8.5 percent, mainly due to lower travel and border sales following the Coronavirus pandemic. The EBITDA margin increased compared to the second quarter of 2019 due to lower operational costs combined with higher gross profit from internal wine bottling. Wine The Nordic monopolies assortment is determined through a clearly defined tender process. Products that are included in a monopoly’s base assortment enjoy the highest degree of product promotion through allocated shelf spacing in all of a country’s monopoly retail stores. These products consequently have a higher likelihood of enjoying high sales volumes and sales growth. Xxxxx sees potential in focusing efforts towards winning assortment tenders in order to increase the number of Arcus products included in a monopoly’s base assortment. Further potential is seen in focusing promotions towards products that are already included in a monopoly’s base assortment, and Xxxxx also sees operational improvement potential in developing and adapting simpler, faster and more commercial ways of working. The management of Arcus believes that Arcus has been successful in utilising its market insight in developing best-selling, own wine brands. This innovation trend has primarily been strong in the Norwegian market and Arcus has developed a number of the best-selling products at Vinmonopolet. Arcus’ own wine brand...
