Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Euronext Paris  >  Pernod Ricard    RI   FR0000120693

News SummaryMost relevantAll newsSector newsTweets

PERNOD RICARD : Pernod Coins New Cuban Brand For US To Replace Disputed Havana Club

share with twitter share with LinkedIn share with facebook
share via e-mail
05/14/2012 | 07:09pm CEST

French alcoholic beverages company Pernod Ricard SA (RI.FR) said Monday it will launch Havanista-branded Cuban rum in the U.S. if the country lifts its embargo on Cuba, after the U.S. Supreme Court refused to review a decision by a lower court that prevented the company from renewing its Havana Club trademark registration.

Pernod has been fighting a lengthy legal battle in the U.S. concerning the Havana Club trademark. With Havanista, the company appears to be cutting its losses and looking ahead to eventually launching a new Cuban rum product for the U.S. market.

Because of the U.S.'s long-standing embargo on Cuban exports, Pernod hasn't been able to sell its Cuba-made Havana Club rum in the U.S. In the absence of the trademark, competitor Bacardi International Ltd. adopted the Havana Club name for its rum, which is produced in Puerto Rico.

Pernod filed a suit against Bacardi, alleging deceptive advertising of the non-Cuban rum. Although Bacardi's Havana Club sales are minimal, Pernod had hoped to keep the trademark in its domain in case the embargo was lifted. Pernod has distributed Havana Club rum in other countries, in partnership with Cubaexport, since 1993.

A 1998 law in the U.S., known as "Section 211" for the section of the appropriations bill in which it was included, barred the registration of certain Cuban trademarks in the U.S. While Cubaexport argued that the rule applied only to new registrations, the Court of Appeals of the District of Columbia upheld a lower court's decision saying the rule also applies to the renewal of previously registered trademarks.

The Supreme Court's decision Monday upheld the Appeal Court's decision, which was made in application of Section 211.

Pernod said that, in light of the Supreme Court's decision, it has registered the trademark Havanista in the U.S.

The brand, which is produced and bottled in Cuba, is a "premium Cuban rum specifically aimed at the U.S. market, which will be launched if the embargo is lifted", Pernod said in a statement.

-By Nadya Masidlover, Dow Jones Newswires; +33 1 4017 1740; nadya.masidlover@dowjones.com

(Melissa Korn contributed to this article.)

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on PERNOD RICARD
08/17 PERNOD RICARD : Employees Support Sustainability in Hong Kong Across Four Distin..
08/16 CORBY SPIRIT AND WINE LIMITED : to Release Year-End Financial Results on Wednesd..
08/07 PERNOD RICARD : More strike action set for next week for Dumbarton whisky worker..
08/05 PERNOD RICARD : Union bid to avoid strikes
08/01 PERNOD RICARD : Completion of the partnership with Del Maguey Single Village mez..
07/20DJPERNOD RICARD : Skate Shop Operators-Turned-Vodka Distillers Help Pernod Ricard'..
07/13 PERNOD RICARD : Spirits maker takes over local distribution
07/12 PERNOD RICARD : The Absolut Kiss to Encourage 'Equal Love'
07/06 CORBY SPIRIT AND WINE : Announces New Vice-President of Marketing
07/05 PERNOD-RICARD : ex-dividend day for interim dividend
More news
News from SeekingAlpha
05/12 Tracking Gardner Russo & Gardner Portfolio - Q1 2017 Update
05/01 A Sparkling Opportunity? Investments In Champagne And Beyond With Laurent-Per..
04/29 CONSTELLATION BRANDS : High Growth, High Margin With Low Valuations
04/26 Castle Brands rockets on M&A report
04/25 FOCUS ON EUROPE : Gearing Up For Q1 Results!
Financials (€)
Sales 2017 9 002 M
EBIT 2017 2 421 M
Net income 2017 1 483 M
Debt 2017 8 197 M
Yield 2017 1,73%
P/E ratio 2017 21,25
P/E ratio 2018 19,80
EV / Sales 2017 4,37x
EV / Sales 2018 4,15x
Capitalization 31 121 M
Duration : Period :
Pernod Ricard Technical Analysis Chart | RI | FR0000120693 | 4-Traders
Technical analysis trends PERNOD RICARD
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 120 €
Spread / Average Target 2,3%
EPS Revisions
Alexandre Ricard Chairman & Chief Executive Officer
Gilles Bogaert Managing Director-Finance & Operations
Mathieu Lambotte Chief Information Officer
Frèdèric Andrè Director-Information Technology Governance
Jean-François Bernard Chief Technical Officer
Sector and Competitors
1st jan.Capitalization (M$)
PERNOD RICARD13.89%36 598
DIAGEO20.83%82 589