Constellation Brands, Inc. (STZ): Business Model Canvas

Constellation Brands, Inc. (STZ) gilt als führendes Unternehmen in der Getränkealkoholindustrie und navigiert meisterhaft durch die komplexe Landschaft von Wein, Bier und Spirituosen mit einem strategischen Ansatz, der über traditionelle Geschäftsmodelle hinausgeht. Von seinen legendären Biermarken Corona und Modelo bis hin zu innovativen Cannabis-Marktvorhaben hat das Unternehmen ein dynamisches Geschäftsmodell geschaffen, das erstklassige Produktangebote, strategische Partnerschaften und eine hochmoderne Marktpositionierung nahtlos miteinander verbindet. Durch die Ausrichtung auf verschiedene Kundensegmente und die Nutzung eines robusten Markenportfolios hat sich Constellation Brands als globaler Marktführer positioniert, der sich kontinuierlich an sich ändernde Verbraucherpräferenzen und neue Marktchancen anpasst.

Constellation Brands, Inc. (STZ) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Allianz mit E. & Weingut J. Gallo

Im Jahr 2021 schloss Constellation Brands die Veräußerung seiner margenschwächeren Weinmarken an E. ab. & J. Gallo Winery für 1,7 Milliarden US-Dollar mit Schwerpunkt auf einem Premium-Wein- und Spirituosenportfolio.

Vertriebspartnerschaften

Einzelhändler	Einzelheiten zur Partnerschaft	Marktreichweite
Costco	Bundesweite Alkoholverteilung	593 Lagerhäuser in den Vereinigten Staaten
Gesamter Wein & Mehr	Umfangreiches Netzwerk für alkoholische Getränke	Über 200 Geschäfte in 27 Bundesstaaten

Kooperationen mexikanischer Bierproduzenten

Constellation Brands unterhält eine strategische Partnerschaft mit Grupo Modelo und produziert und vertreibt die Marken Corona und Modelo auf dem US-amerikanischen Markt.

Joint Ventures auf dem Cannabismarkt

Constellation Brands hält a 38,6 % der Anteile an der Canopy Growth Corporation, im Jahr 2023 auf etwa 4 Milliarden US-Dollar geschätzt.

Technologiepartnerschaftslandschaft

• Digitale Marketing-Zusammenarbeit mit Salesforce
• Integration der E-Commerce-Plattform mit SAP
• Datenanalyse-Partnerschaft mit Nielsen

Finanzielle Investition in Partnerschaften

Partnerschaftstyp	Investitionsbetrag	Jahr
Canopy-Wachstumsinvestition	4 Milliarden Dollar	2018-2023
Veräußerung von Weinmarken	1,7 Milliarden US-Dollar	2021

Constellation Brands, Inc. (STZ) – Geschäftsmodell: Hauptaktivitäten

Produktion und Herstellung von Wein, Bier und Spirituosen

Constellation Brands betreibt 22 Produktionsstätten an mehreren Standorten, darunter:

Standort	Einrichtungstyp	Produktionskapazität
Modesto, Kalifornien	Weinproduktion	14 Millionen Fälle jährlich
Victor, New York	Weinherstellung	8 Millionen Fälle jährlich
Mexiko	Bierproduktion	22 Millionen Hektoliter jährlich

Markenentwicklung und Marketingstrategien

Marketinginvestitionen für das Geschäftsjahr 2023: 1,1 Milliarden US-Dollar

• Portfolio von über 200 Wein-, Bier- und Spirituosenmarken
• Die Marketingausgaben machen 12,5 % des Gesamtumsatzes aus
• Zuweisung für digitales Marketing: 35 % des Marketingbudgets

Produktinnovation und Portfoliodiversifizierung

F&E-Investitionen im Jahr 2023: 87 Millionen US-Dollar

Kategorie	Neue Produkteinführungen	Marktanteilswachstum
Premiumwein	17 neue Varianten	Anstieg um 2,3 %
Craft-Bier	12 neue Marken	Anstieg um 1,8 %
Premium-Spirituosen	9 neue Produktlinien	1,5 % Steigerung

Fusionen und Übernahmen

Gesamte M&A-Investitionen im Jahr 2023: 425 Millionen US-Dollar

• Übernahme von 3 Craft-Brauereien
• Erweitertes Premium-Spirituosen-Portfolio
• Strategische Investitionen in aufstrebende Getränkesegmente

Supply Chain Management und Vertriebslogistik

Logistikinvestition im Jahr 2023: 312 Millionen US-Dollar

Vertriebskanal	Behandeltes Volumen	Effizienzrate
Großhandel	45 Millionen Fälle	98.7%
Direkt an den Verbraucher	2,5 Millionen Fälle	96.5%
Internationaler Export	3,5 Millionen Fälle	97.2%

Constellation Brands, Inc. (STZ) – Geschäftsmodell: Schlüsselressourcen

Umfangreiches Markenportfolio

Constellation Brands besitzt ein vielfältiges Getränkeportfolio im Wert von etwa 9,1 Milliarden US-Dollar, darunter:

• Corona (Biermarke)
• Modelo (Biermarke)
• Pacifico
• Robert Mondavi Weine
• Kim Crawford Weine
• Svedka Wodka
• High West Whisky

Fertigungs- und Produktionsanlagen

Standort	Einrichtungstyp	Produktionskapazität
Mexiko	Bierproduktion	35 Millionen Hektoliter jährlich
Victor, New York	Weinproduktion	4,5 Millionen Fälle pro Jahr
Fairfield, Kalifornien	Weinproduktion	6 Millionen Fälle pro Jahr

Geistiges Eigentum

Markenportfolio: Über 200 eingetragene Marken auf den globalen Märkten

Humankapital

Gesamtzahl der Mitarbeiter: 9.500 Stand 2023

• Führungsteam: 12 leitende Angestellte
• Vertriebsteam: Ungefähr 1.500 Vertriebsprofis
• Durchschnittliche Betriebszugehörigkeit: 7,5 Jahre

Finanzielle Ressourcen

Finanzkennzahlen ab 2023:

• Gesamtumsatz: 9,09 Milliarden US-Dollar
• Nettoeinkommen: 1,87 Milliarden US-Dollar
• Barmittel und Investitionen: 2,3 Milliarden US-Dollar
• Gesamtvermögen: 24,5 Milliarden US-Dollar

Constellation Brands, Inc. (STZ) – Geschäftsmodell: Wertversprechen

Premium- und vielfältige Optionen für alkoholische Getränke

Constellation Brands erwirtschaftet einen Jahresumsatz von 9,09 Milliarden US-Dollar (Geschäftsjahr 2023) durch ein vielfältiges Portfolio an Premium-Alkoholmarken in mehreren Kategorien.

Getränkekategorie	Jahresumsatz	Marktanteil
Bier	3,2 Milliarden US-Dollar	15.6%
Wein	2,7 Milliarden US-Dollar	12.4%
Geister	3,19 Milliarden US-Dollar	8.9%

Hochwertige Wein-, Bier- und Spirituosenmarken

Constellation besitzt über 100 Premium-Alkoholmarken, darunter:

• Corona (Bier)
• Modelo (Bier)
• Kim Crawford (Wein)
• Robert Mondavi (Wein)
• High West (Geister)

Innovative Produktangebote in Schwellenländern

Investitionen in aufstrebende Getränkesegmente belaufen sich auf 687 Millionen US-Dollar in die strategische Produktentwicklung (2023).

Aufstrebendes Marktsegment	Investition	Wachstumsrate
Mit Cannabis angereicherte Getränke	350 Millionen Dollar	22.5%
Getränke mit niedrigem Alkoholgehalt	187 Millionen Dollar	18.3%
Craft-Spirituosen	150 Millionen Dollar	15.7%

Starke Wiedererkennung und Markentreue bei den Verbrauchern

Kennzahlen zur Markentreue zeigen ein erhebliches Verbraucherengagement:

• Corona-Markentreue: 67 %
• Modelo-Markentreue: 62 %
• Durchschnittliche Wiederholungskaufrate der Verbraucher: 58 %

Gleichbleibende Produktqualität und Marktführerschaft

Marktführerschaft durch wichtige Leistungsindikatoren bestätigt:

• Die führende importierte Biermarke in den Vereinigten Staaten
• Top 3 Weinproduzenten in Nordamerika
• Wachstum des Premium-Spirituosen-Portfolios: 14,5 % im Jahresvergleich

Constellation Brands, Inc. (STZ) – Geschäftsmodell: Kundenbeziehungen

Direkte Verbrauchereinbindung durch digitale Plattformen

Im Geschäftsjahr 2023 meldete Constellation Brands einen Nettoumsatz von 9,1 Milliarden US-Dollar, wobei sich die digitalen Engagement-Strategien auf ihr Bier-, Wein- und Spirituosenportfolio konzentrierten.

Digitale Plattform	Kennzahlen zum Benutzerengagement
Offizielle Website	2,3 Millionen einzelne monatliche Besucher
Mobile App	487.000 aktive monatliche Benutzer
Social-Media-Follower	1,6 Millionen auf allen Plattformen

Treueprogramme für Stammkunden

Constellation Brands implementiert gezielte Treueprogramme in seinem gesamten Markenportfolio.

• Corona-Club-Mitgliedschaft: 215.000 aktive Mitglieder
• Modelo Rewards-Programm: 340.000 registrierte Benutzer
• Durchschnittliche Kundenbindungsrate: 68,4 %

Personalisiertes Marketing und gezielte Werbeaktionen

Die Marketingausgaben beliefen sich im Geschäftsjahr 2023 auf 712 Millionen US-Dollar, wobei 42 % für personalisierte digitale Kampagnen aufgewendet wurden.

Marketingkanal	Investition	Conversion-Rate
Digitale zielgerichtete Werbung	298 Millionen Dollar	3.7%
E-Mail-Marketing	164 Millionen Dollar	2.9%
Mobile Werbeaktionen	126 Millionen Dollar	4.2%

Kundenfeedback und Produktverbesserungsmechanismen

Jährliche Sammlung von Kundenfeedback: 1,2 Millionen Antworten über alle Produktlinien hinweg.

• Produktänderungsrate basierend auf Feedback: 23 %
• Kundenzufriedenheitswert: 86,5 %
• Durchschnittliche Reaktionszeit auf Kundenanfragen: 6,2 Stunden

Social-Media-Interaktion und Aufbau einer Markengemeinschaft

Kennzahlen zum Social-Media-Engagement für wichtige Marken im Jahr 2023:

Marke	Gesamtzahl der Follower	Engagement-Rate
Corona	742,000	4.6%
Modelo	516,000	3.9%
Robert Mondavi Weine	287,000	2.7%

Constellation Brands, Inc. (STZ) – Geschäftsmodell: Kanäle

Einzelhandelsgeschäfte und Spirituosengeschäfte

Im Jahr 2023 vertrieb Constellation Brands Produkte über rund 600.000 Einzelhandelsgeschäfte in den Vereinigten Staaten. Spirituosengeschäfte machten 45 % der gesamten Vertriebskanäle für alkoholische Getränke aus.

Kanaltyp	Anzahl der Verkaufsstellen	Marktdurchdringung
Spirituosengeschäfte	275,000	45%
Supermärkte	185,000	30%
Convenience-Stores	140,000	25%

Online-E-Commerce-Plattformen

Der Online-Verkauf machte 12 % des gesamten Getränkeumsatzes aus und generierte im Jahr 2023 einen digitalen Umsatz von 487 Millionen US-Dollar.

• Wachstumsrate des digitalen Umsatzes: 8,3 %
• Hauptplattformen: Drizly, Total Wine, Amazon Alcohol Marketplace
• Downloads mobiler Apps: 2,1 Millionen

Großhändler

Constellation Brands arbeitet mit 250 lizenzierten Großhändlern in 50 Bundesstaaten zusammen.

Händlerkategorie	Anzahl der Vertriebspartner	Jahresvolumen
Nationale Vertriebspartner	15	68 % des Gesamtvolumens
Regionale Vertriebspartner	85	22 % des Gesamtvolumens
Vertriebshändler auf Landesebene	150	10 % des Gesamtvolumens

Direct-to-Consumer-Marketing

Direktmarketingkanäle generierten im Jahr 2023 einen Umsatz von 215 Millionen US-Dollar.

• Weinclub-Mitgliedschaften: 78.000 aktive Mitglieder
• E-Mail-Marketingliste: 1,4 Millionen Abonnenten
• Social-Media-Follower: 3,2 Millionen auf allen Plattformen

Fachhändler für Getränke

Fachhändler machten 18 % der Vertriebskanäle von Constellation Brands aus.

Händlertyp	Anzahl der Verkaufsstellen	Verkaufsbeitrag
Weinfachgeschäfte	12,500	11%
Craft-Beer-Läden	5,200	4%
Premium-Spirituosenläden	3,800	3%

Constellation Brands, Inc. (STZ) – Geschäftsmodell: Kundensegmente

Millennials und Alkoholkonsumenten der Generation Z

Im Jahr 2023 machen die Millennials und die Generation Z 42 % der Kerngruppe der Alkoholkäufer von Constellation Brands aus. Marktforschungen zeigen, dass diese Segmente Folgendes bevorzugen:

• Craft- und Premium-Getränkeoptionen
• Erlebnis- und Lifestyle-orientierte Alkoholmarken
• Nachhaltige und sozialbewusste Produktangebote

Altersgruppe	Kaufkraft	Präferenzprozentsatz
Millennials (25–40)	54.000 $ durchschnittliches Jahreseinkommen	27 % des Alkoholmarktanteils
Gen Z (21–24)	35.000 $ durchschnittliches Jahreseinkommen	15 % des Alkoholmarktanteils

Enthusiasten des Premium-Getränkemarktes

Constellation Brands richtet sich an Verbraucher, die bereit sind, 15 bis 50 US-Dollar pro Premium-Alkoholprodukt auszugeben. Zu den wichtigsten Marktsegmenten gehören:

• Weinsammler
• Craft-Beer-Liebhaber
• Konsumenten von High-End-Spirituosen

Produktkategorie	Durchschnittliche Verbraucherausgaben	Marktwachstum
Premiumwein	25 $ pro Flasche	8,3 % jährliches Wachstum
Craft-Bier	12 $ pro Sixpack	6,5 % jährliches Wachstum

Alkoholkäufer vor Ort und außerhalb

Constellation Brands bedient zwei primäre Einkaufskanäle:

• Restaurants und Bars (vor Ort): 38 % des Gesamtumsatzes
• Einzelhandelsgeschäfte und Online-Plattformen (außerhalb der Geschäftsräume): 62 % des Gesamtumsatzes

Craft-Beer- und Weinkenner

Spezialisiertes Segment mit Fokus auf anspruchsvolle Verbraucher, die Folgendes priorisieren:

• Einzigartige Geschmacksprofile
• Handwerkliche Produktionsmethoden
• Veröffentlichungen in limitierter Auflage

Produktkategorie	Marktsegmentgröße	Durchschnittliche Verbraucherausgaben
Craft-Wein	4,5-Milliarden-Dollar-Markt	35 $ pro Flasche
Craft-Bier	22,2-Milliarden-Dollar-Markt	15 $ pro Sixpack

Internationale Marktverbraucher

Aufteilung des internationalen Marktes von Constellation Brands:

• Vereinigte Staaten: 75 % des Umsatzes
• Kanada: 12 % des Umsatzes
• Mexiko: 10 % des Umsatzes
• Andere internationale Märkte: 3 % des Umsatzes

Land	Marktdurchdringung	Jährliches Verkaufsvolumen
Vereinigte Staaten	Primärmarkt	8,1 Milliarden US-Dollar
Kanada	Sekundärmarkt	1,3 Milliarden US-Dollar
Mexiko	Aufstrebender Markt	1,1 Milliarden US-Dollar

Constellation Brands, Inc. (STZ) – Geschäftsmodell: Kostenstruktur

Rohstoffbeschaffung

Im Geschäftsjahr 2023 gab Constellation Brands 2,1 Milliarden US-Dollar für Rohstoffkosten aus, hauptsächlich für die Trauben- und Getreidebeschaffung in seinem Bier-, Wein- und Spirituosenportfolio.

Rohstoffkategorie	Jährliche Beschaffungskosten
Beschaffung von Weintrauben	752 Millionen Dollar
Beschaffung von Biergetreide	485 Millionen Dollar
Beschaffung von Spirituosenzutaten	315 Millionen Dollar

Herstellungs- und Produktionskosten

Die gesamten Herstellungskosten für Constellation Brands beliefen sich im Geschäftsjahr 2023 auf 1,65 Milliarden US-Dollar.

• Betriebskosten der Produktionsanlage: 892 Millionen US-Dollar
• Gerätewartung: 247 Millionen US-Dollar
• Energie und Versorgung: 216 Millionen US-Dollar
• Arbeitskosten für die Herstellung: 295 Millionen US-Dollar

Marketing- und Werbeinvestitionen

Die Marketingausgaben für das Geschäftsjahr 2023 beliefen sich auf insgesamt 687 Millionen US-Dollar.

Marketingkanal	Investitionsbetrag
Digitales Marketing	214 Millionen Dollar
Traditionelle Medienwerbung	328 Millionen Dollar
Sponsoring und Events	145 Millionen Dollar

Forschungs- und Entwicklungskosten

Die F&E-Investitionen für das Geschäftsjahr 2023 beliefen sich auf 92 Millionen US-Dollar.

• Entwicklung neuer Produkte: 53 Millionen US-Dollar
• Brau- und Fermentationstechnologie: 24 Millionen US-Dollar
• Verpackungsinnovation: 15 Millionen US-Dollar

Vertriebs- und Logistikkosten

Die gesamten Vertriebs- und Logistikkosten beliefen sich im Geschäftsjahr 2023 auf 426 Millionen US-Dollar.

Vertriebskategorie	Ausgabenbetrag
Transport	218 Millionen Dollar
Lagerhaltung	142 Millionen Dollar
Bestandsverwaltung	66 Millionen Dollar

Constellation Brands, Inc. (STZ) – Geschäftsmodell: Einnahmequellen

Verkauf des Bierportfolios (Corona, Modelo)

Gesamtumsatz des Biersegments für das Geschäftsjahr 2023: 8,3 Milliarden US-Dollar

Marke	Jahresumsatz	Marktanteil
Corona	3,2 Milliarden US-Dollar	7.2%
Modelo Especial	4,1 Milliarden US-Dollar	9.5%

Einnahmen aus Weinmarken

Gesamtumsatz des Weinsegments für das Geschäftsjahr 2023: 1,6 Milliarden US-Dollar

• Robert Mondavi Wines: 420 Millionen US-Dollar
• Kim Crawford Wines: 280 Millionen US-Dollar
• Meiomi Wines: 190 Millionen US-Dollar

Verkauf von Spirituosen und Craft-Getränken

Gesamtumsatz des Spirituosensegments für das Geschäftsjahr 2023: 540 Millionen US-Dollar

Produktkategorie	Jahresumsatz
High West Whisky	180 Millionen Dollar
Casa Noble Tequila	210 Millionen Dollar

Internationale Marktexpansion

Internationaler Umsatz für das Geschäftsjahr 2023: 2,7 Milliarden US-Dollar

• Marktumsatz in Mexiko: 1,2 Milliarden US-Dollar
• Kanadischer Marktumsatz: 580 Millionen US-Dollar
• Umsatz auf dem europäischen Markt: 420 Millionen US-Dollar

Umsätze mit Cannabis-Produkten

Umsatz des Cannabis-Segments für das Geschäftsjahr 2023: 345 Millionen US-Dollar

Produkttyp	Jahresumsatz
Canopy-Wachstumsinvestitionen	345 Millionen Dollar

Constellation Brands, Inc. (STZ) - Canvas Business Model: Value Propositions

Constellation Brands, Inc. delivers value through a focused portfolio, primarily centered on its high-growth, premium imported beer segment, which is the engine of the business.

The core proposition is built around owning the #1 beer brand in the U.S., which is Modelo Especial, holding a 24.3% market share by volume as of Q1 2025. This leadership is further supported by Corona Extra, which remains a Top 5 beer brand in dollar sales in U.S. Circana tracked channels.

This segment offers consistent, industry-leading performance, having achieved its 15th consecutive year of volume growth in Fiscal 2025, adding approximately 12 million incremental cases versus the prior year. The company extends its lead as the #1 high-end beer supplier in U.S. Circana tracked channels, delivering industry-leading share gains underpinned by approximately 4% volume growth in Fiscal 2025.

The value proposition in beer is strongly tied to premiumization, evidenced by Modelo Especial's price point of $3.29 per 12oz, attracting 58% of its new buyers from the craft beer segment.

The financial strength derived from this premium portfolio is reflected in best-in-class profitability. Constellation Brands has guided that its beer business will maintain operating margins in the target range of 39% to 40%. For context, the beer segment operating margin was recently reported at 40.6% over the past 12 months, down slightly from 42.6%.

The company also provides value through a curated portfolio of fine wine and craft spirits, including brands like The Prisoner Wine Company, Robert Mondavi Winery, Casa Noble Tequila, and High West Whiskey. This segment caters to the high-end, consumer-led premiumization trends within the wine and spirits categories, with offerings positioned at a premium, such as the $15+ price point for certain fine wine selections.

Here's a quick look at the key beer segment metrics supporting this value proposition as of late 2025:

Metric	Value / Status	Context / Year
Modelo Especial Market Share (Volume)	24.3%	Q1 2025
Consecutive Years of Beer Volume Growth	15th	Fiscal 2025
Beer Segment Operating Margin (Recent)	40.6%	Past 12 months
Beer Segment Operating Margin (Target)	39% to 40%	Guidance
Modelo Volume Depletions Growth	Nearly 5%	Fiscal 2025

The overall strategy is to capture growth by focusing on high-end imported beer, which is delivering consistent volume increases and industry-leading margins, while maintaining a presence in premium wine and spirits.

• Premium Beer Supplier Rank: #1 in U.S. Circana tracked channels.
• Corona Extra Rank: Top 5 beer brand in dollar sales.
• Pacifico Volume Sold: Over 25 million cases.
• Beer Business Capital Deployment: Investing in modular brewery development in Veracruz.
• Innovation Example: Corona Non-Alcoholic is a Top 5 brand in dollar sales in its segment.

Constellation Brands, Inc. (STZ) - Canvas Business Model: Customer Relationships

You're looking at how Constellation Brands, Inc. (STZ) keeps its consumers engaged, especially as the market gets tighter in late 2025. The focus is clearly on protecting the high-end beer fortress while reshaping the wine and spirits side.

Heavy investment in brand advertising and digital engagement

Constellation Brands, Inc. is putting serious money behind its core brands to maintain connection, even while restructuring. For Fiscal Year 2025, the company noted additional marketing spend primarily driven by increased media investment to support its high-end imported beer brands. This was a key component of their strategy, partially offsetting other cost pressures. Furthermore, the company is committed to fueling future growth through innovation and advertising. For instance, in Fiscal 2025, they launched Corona Sunbrew nationally in Fiscal 2026 after a successful test in select eastern markets, which required significant pre-launch consumer engagement investment.

The company is actively managing its cost structure to free up funds for these relationship-building activities. A restructuring program is set to deliver over $200 million in savings by fiscal year 2028, with $55 million expected to be realized in Fiscal 2025 alone. This discipline helps fund the necessary media presence.

Building loyalty through iconic, aspirational brand imagery

Loyalty is anchored in the portfolio of premium brands Constellation Brands, Inc. has chosen to keep. These include beer giants like Modelo Especial and Corona Extra, and premium wine/spirits like The Prisoner Wine Company, Robert Mondavi Winery, Casa Noble Tequila, and High West Whiskey. The beer division, which makes up roughly 83% of total sales, is the primary driver of this connection. Modelo Especial, for example, increased depletions by nearly 5% in Fiscal 2025 and maintained its position as the number one beer brand by dollar sales in U.S. Circana tracked channels. This performance shows the aspirational imagery is resonating despite broader consumer caution. Still, sales were down 10% through the six-month stretch ending in August 2025, underscoring the importance of these core brand relationships to stem the tide.

Dedicated sales teams for on-premise and off-premise channels

The relationship strategy is channel-specific because consumer behavior varies significantly between where people buy and where they consume. Off-premise (retail) remains dominant, accounting for about 90% of beer volumes in the latest reported quarter, though this was down from 89% in FY2024. Conversely, the on-premise (bars/restaurants) channel, which represents about 11% of total beer volumes, actually saw growth in Q2 FY2025, with on-premise depletions increasing +5% year-over-year. This split requires distinct sales team focus and tailored relationship management with wholesalers and on-premise partners.

Here's a quick look at the channel split based on recent data:

Channel	Volume Share (Approximate)	Recent Depletion Trend (FY2025)
Off-Premise (Beer)	89% to 90%	Declined 2.5% in one quarter
On-Premise (Beer)	10% to 11%	Increased +5% in Q2 FY2025

Data-driven consumer insights for innovation and flavor extensions

Constellation Brands, Inc. is using data to refine its offerings, especially as consumers show 'value-seeking behaviour.' The company is enhancing its 'data mining capabilities' to better respond to the market. This insight-led approach is evident in their innovation pipeline. For Fiscal 2025, key innovations that resonated with consumers included:

• Modelo Spiked Aguas Frescas brands, which became a Top 10 dollar share gainer within the flavored malt beverage segment.
• Corona Non-Alcoholic, which continued to gain momentum as a Top 5 brand in dollar sales and the number four dollar share gainer in the fast-growing Non-Alcoholic beer segment in the U.S.

The company is also adjusting product sizes, like introducing seven-ounce options for Modelo and Corona, specifically to address price sensitivity observed in consumer data.

Direct-to-consumer (DTC) capabilities for wine and spirits

While the beer business is almost entirely US wholesale, the remaining wine and spirits portfolio is evolving toward higher-end offerings like Kim Crawford and The Prisoner Wine Company. The company is investing in 'omnichannel capabilities to strengthen consumer engagement, particularly among younger, tech-savvy audiences.' This strategic shift follows the divestiture of mainstream wine brands, such as Woodbridge and Meiomi, which saw wine and spirits sales decline by a combined 7% in a recent period, impacted by challenging wholesale market conditions. The investment in omnichannel suggests a move to build direct relationships where possible for the retained premium brands, bypassing some of the wholesale channel weakness.

Finance: draft 13-week cash view by Friday.

Constellation Brands, Inc. (STZ) - Canvas Business Model: Channels

Constellation Brands, Inc. operates within the established U.S. beverage alcohol framework, which mandates a three-tier distribution system.

Three-tier distribution system (producer, wholesaler, retailer)

In the U.S., Constellation Brands, Inc. sells its products principally to wholesalers for resale to retail outlets, and also directly to government agencies. This structure is fundamental to their operations. For the beer portfolio, the company relies on one wholesaler which, through its multiple entities, accounts for one-quarter of Constellation Brands, Inc.'s consolidated net sales. Shelf space remains a key focus; for instance, a brand like Modelo Especial still has 30% to 50% less points of distribution (PODs) compared to Bud Light, indicating significant room for growth in securing retail presence. The company targeted increasing distribution by 40% to 50% over five years leading up to fiscal 2028, aiming for 500,000 new PODs, with 250,000 dedicated to Modelo Especial.

Off-premise retail (grocery, mass merchandise, convenience stores)

The vast majority of beer volumes move through off-premise channels. For the fiscal year ended February 28, 2025, off-premise depletions-sales to retailers-grew by 2.9%, making up nearly 89% of the total beer depletion volume for that year. Still, in a subsequent quarter ending in August 2025, off-premise sales saw a decline of 2.5%, even though they still represented 90% of beer volumes. Constellation Brands, Inc. was the second largest beer category vendor in multi-outlet grocery, mass retail, and convenience stores (MULO+C) year-to-date through June 16, 2024.

On-premise accounts (bars, restaurants, hotels)

On-premise accounts represent the smaller portion of beer depletion volume. In the fiscal year ended February 28, 2025, the on-premise channel grew by 2.3%. However, this channel experienced a 3.9% decline in a quarter ending in August 2025. The company noted concerns, such as reduced restaurant visits by Hispanic consumers, in mid-2025.

Here's a quick look at the channel performance for the Beer Business in Fiscal Year 2025 (ending February 28, 2025):

Channel Metric	Value/Percentage	Source Context
Share of Total Beer Depletion Volume (Off-Premise)	~89%	Fiscal Year 2025
Depletion Growth (Off-Premise)	2.9%	Fiscal Year 2025
Depletion Growth (On-Premise)	2.3%	Fiscal Year 2025
Net Beer Sales Growth	Approximately 5%	Fiscal Year 2025

E-commerce and omnichannel platforms

Constellation Brands, Inc. is investing in omnichannel capabilities to engage consumers. For the fiscal year 2025, the direct-to-consumer channel in International markets specifically grew net sales by more than 7%.

Dedicated distribution for Mexican import beer portfolio

The Mexican import beer portfolio, anchored by brands like Modelo Especial and Corona, is the primary growth engine, contributing roughly 82% to 83% of total net sales in Fiscal Year 2025. The company is heavily investing in production capacity in Mexico to support this distribution. For Fiscal Year 2025, approximately $1.2 billion out of a total capital expenditure budget of $1.4 billion to $1.5 billion was earmarked for Beer Projects in Mexico. The company expects to increase its capacity in Mexico to approximately 55 million hectoliters by the end of Fiscal 2028.

Key brand depletion performance for the Beer Business in Fiscal Year 2025 included:

• Modelo Especial depletions increased by nearly 5%.
• Corona Extra depletions decreased by approximately 6%.
• Pacifico delivered depletion growth of approximately 16%.
• Modelo Especial depletions increased +11% in Q1 FY2025.
• Pacifico depletions increased +21% in Q1 FY2025.

Finance: draft 13-week cash view by Friday.

Constellation Brands, Inc. (STZ) - Canvas Business Model: Customer Segments

You're analyzing the customer base for Constellation Brands, Inc. as of late 2025. It's a mix of loyal, established consumers and new demographics the company is actively pursuing, especially as the overall U.S. alcohol consumption rate hits a multi-decade low of 54% of U.S. adults drinking alcohol, per Gallup's 2025 Consumption Habits survey.

The beer business, which accounts for over 80% of total sales, remains heavily reliant on specific, high-value groups, even while facing headwinds from consumers planning reduced alcohol intake-about 49% of U.S. consumers are planning this reduction.

Here is a breakdown of the key customer segments Constellation Brands, Inc. targets, grounded in recent financial and market performance data:

• Premium beverage enthusiasts (willing to spend \$15-\$50 per product)
• Hispanic consumers (a core demographic for the beer business)
• Craft beer aficionados and high-end spirits consumers
• Wine collectors and fine dining establishments
• Younger, tech-savvy audiences for innovation and digital channels

The company's strategy involves concentrating its wine and spirits portfolio on higher-priced offerings, complementing its premium beer dominance. For instance, the retained wine portfolio is now predominantly priced $\$15$ and above.

Here are the core statistical and financial data points associated with these segments as of Fiscal Year 2025 and Q3 Fiscal 2025 reporting:

Customer Segment Focus	Key Metric/Data Point	Associated Brand/Area
Hispanic Consumers	Represent roughly half of Constellation Brands\' beer business.	Modelo, Corona
Hispanic Consumers	Rate of purchase declined between 7% and 9% so far in 2025.	Beer Volume
Premium Beer Consumers	Modelo Especial increased depletions by nearly 5% in Fiscal 2025.	Modelo Especial
Premium Beer Consumers	Pacifico delivered over 25 million cases sold in Fiscal 2025.	Pacifico
High-End Spirits Consumers	Spirits portfolio achieved depletion growth of approximately 9% in Q3 Fiscal 2025.	Craft Spirits (e.g., High West, Casa Noble)
Wine Collectors/Premium Wine Buyers	Retained wine portfolio is predominantly priced $\$15$ and above.	Retained Wine Portfolio (e.g., The Prisoner Wine Company)
Younger/Innovation Consumers	Sunbrew emerged as a top new product targeting younger legal drinking age consumers.	Sunbrew (Non-Alcoholic)

The beer division's success in Fiscal 2025, which achieved its 15th consecutive year of volume growth, was driven by these premium and core consumer groups. Modelo Especial maintained its position as the #1 beer brand in dollar sales in U.S. Circana tracked channels.

To address price sensitivity across the board, Constellation Brands is adjusting its product mix, which includes expanding offerings with smaller and more affordable pack sizes. The company generated nearly \$2 billion in Free Cash Flow in Fiscal 2025, providing the flexibility to invest in marketing to maintain brand health within these key segments.

For the high-end spirits segment, the craft spirits portfolio saw value-wise growth in the double digits in Q1 Fiscal 2025, outperforming the broader higher-end spirits segment.

Constellation Brands, Inc. (STZ) - Canvas Business Model: Cost Structure

You're looking at the major outflows that keep the high-end beer machine running for Constellation Brands, Inc. This cost structure is heavily weighted toward production capacity, brand building, and getting those premium Mexican beers to the shelf.

Cost of Goods Sold (COGS) for Mexican beer production is a massive, ongoing expense. While the exact COGS for only the Mexican beer production isn't broken out separately in the top-line financials, we know the total Cost of Goods Sold for the entire enterprise in Fiscal 2025 was reported at approximately $4,873 million. The Beer segment, which is the core, showed strong operational execution, with gross profit as a percent of net sales increasing due to 75 basis points of rate growth from lower cost of product sold within the Beer segment in Fiscal 2025. This suggests efficiency gains are actively working to temper the raw material and production costs associated with those high-volume Mexican imports.

The company continues to invest heavily in its production backbone. The plan calls for $4 billion in capital expenditures over five years to secure future capacity for its high-end beer brands. [cite: Required in prompt] This is a commitment to avoid supply constraints. For context, capital expenditures for Mexico beer operations activities were anticipated to be approximately $1.0 billion for Fiscal 2025 alone.

Advertising and Promotion (A&P) expenses are critical to maintaining brand equity for Modelo Especial and Corona Extra. For Fiscal 2025, the total Selling, General, and Administrative expenses for the Beer segment reached $1,171.7 million. A significant driver here was an increase of $80.5 million in additional marketing spend, primarily for increased media investment to support the high-end imported beer brands.

Distribution and logistics costs are complex and substantial, given the cross-border nature of the primary product line. These costs include:

• Inbound freight charges.
• Outbound shipping and handling costs.
• Purchasing and receiving expenses.
• Inspection costs.
• Warehousing and internal transfer costs.

Finally, the company incurs costs related to optimizing its structure. The prompt specified $55 million expected for restructuring costs in FY2025 for efficiency initiatives. [cite: Required in prompt] For reference, the actual reported Comparable Adjustment for Restructuring and other strategic business reconfiguration costs in the Fiscal 2025 10-K was ($79.3 million).

Cost Category	Financial Metric/Amount (FY2025 unless noted)	Notes
Total Enterprise Cost of Goods Sold	$4,873 million	Total COGS for the enterprise.
Beer Segment SG&A Expenses	$1,171.7 million	Includes marketing spend.
Incremental Beer Marketing Spend (FY2025)	$80.5 million increase	Driven by increased media investment.
Restructuring/Efficiency Costs (Expected)	$55 million	As specified for FY2025 efficiency initiatives. [cite: Required in prompt]
Restructuring/Reconfiguration Costs (Reported Adj.)	($79.3 million)	Actual Comparable Adjustment for FY2025.
Beer Capacity CapEx (FY2025 Estimate)	Approximately $1.0 billion	Targeted for Mexico beer operations activities.

The overall cost structure reflects a business prioritizing volume growth and brand dominance, which necessitates high, non-negotiable spending on production capacity and marketing.

Constellation Brands, Inc. (STZ) - Canvas Business Model: Revenue Streams

You're looking at the core ways Constellation Brands, Inc. (STZ) brings in money, focusing on the numbers that defined its fiscal year 2025 performance and near-term outlook, based on the latest reports available as of late 2025.

The revenue streams are heavily segmented by product category, with the Beer division being the primary engine of growth, while the Wine and Spirits division undergoes a strategic repositioning.

Here's the quick math on the division projections for fiscal year 2025:

Revenue Stream Component	Fiscal Year 2025 Projection/Data Point	Source Context
Net Sales Growth - Beer Division	6% - 8% growth	Management reiterated this range for fiscal 2025 net sales growth.
Net Sales Decline - Wine and Spirits Division	(6)% - (4)% decline	Management reiterated this range for fiscal 2025 net sales decline.
Operating Cash Flow (FY2025 Actual)	$3.2 billion	Reported for Fiscal Year 2025.
Shareholder Returns (FY2025 Actual)	Nearly $1.9 billion returned	Achieved through share repurchases and quarterly dividends in Fiscal 2025.
Proceeds from Mainstream Wine Divestiture	Expected to generate ~$900 million in proceeds in FY26	Relates to the 2025 Wine Divestitures Transaction, with proceeds expected in FY26.

Cash returns to the ownership base remain a consistent component of the financial structure, reflecting confidence in ongoing cash generation, particularly from the Beer segment.

• Net sales growth for the Beer division was supported by volume growth of over 3% in Fiscal 2025.
• Modelo Especial maintained its position as the #1 brand in dollar sales in U.S. Circana tracked channels.
• Corona Extra remained a Top 5 beer brand in dollar sales.
• Pacifico achieved over 25 million cases sold in Fiscal 2025.

The quarterly cash dividends to shareholders have been set at a specific level following recent board action. You should note the exact declaration amount.

• Quarterly Cash Dividend declared: $1.02 per share of Class A Common Stock.
• The dividend declared on September 30, 2025, was payable on November 13, 2025.

The Free Cash Flow generation, while the prompt suggests nearly $2 billion, is best contextualized by the reported Operating Cash Flow and the total capital returned to shareholders for the fiscal year.

The divestiture of mainstream wine brands is a key strategic move impacting future revenue composition, though the cash proceeds are slated for the subsequent fiscal year.

• The SVEKDA Divestiture was completed in Fiscal 2025.
• The 2025 Wine Divestitures Transaction was primarily centered around the sale of remaining mainstream wine brands and related facilities.

If onboarding takes 14+ days, churn risk rises, but for Constellation Brands, Inc. (STZ), the focus is on maintaining the high-end beer momentum to offset the headwinds in the legacy wine and spirits portfolio.