Scotch whisky brand of Diageo; historic killer of hill street bottling.
Diageo has announced a multi-pronged turnaround plan led by Dave Lewis, including capital investment to boost Guinness production, expansion of RTD brands, and aggressive cost cuts. The group expects significant restructuring costs and thousands of job losses as it shifts to a more agile operating model and aims to return to profit growth in the coming years.
Harvey Nichols has been put up for sale and is undergoing a turnaround led by Frasers Group. The six-storefront estate, including Edinburgh’s flagship, will continue operating while a broader restructuring is pursued, with potential integration of Flannels and the wider Frasers luxury ecosystem.
VitHit founder Gary Lavin is stepping down as the health drinks brand is acquired by Nichols, which plans to accelerate growth across its distribution network. VitHit generated €26.5m in revenue last year with €4.1m in underlying profits before the sale.