JON MORAMARCO: U.K. WINE INDUSTRY A “COMMODITY MARKET.”

Alcohol beverage companies, particularly wine, are having a difficult time with pricing in the U.K. – so much to the point that Constellation’s European head spoke openly against the discounts at a seminar last week. Jon Moramarco, chief of Constellation’s European arm, said that the U.K.’s tendency towards deep discounting is causing the country to turn into a “commodity market” for wine. But it could partly be the wine producers fault for going along with the system for so long.Moramarco