Constellation Brands, Inc. (STZ): Business Model Canvas [Jan-2025 Mis à jour]

Constellation Brands, Inc. (STZ) est une puissance de l'industrie de l'alcool des boissons, naviguant magistralement dans le paysage complexe du vin, de la bière et des spiritueux avec une approche stratégique qui transcende les modèles commerciaux traditionnels. De ses marques emblématiques de bière Corona et Modelo à Innovative Cannabis Market Ventures, la société a conçu une toile commerciale dynamique qui mélange de manière transparente des offres de produits haut de gamme, des partenariats stratégiques et un positionnement du marché de pointe. En ciblant divers segments de clients et en tirant parti d'un portefeuille robuste de marques, Constellation Brands s'est positionné comme un leader mondial qui s'adapte continuellement à l'évolution des préférences des consommateurs et des opportunités de marché émergentes.

Constellation Brands, Inc. (STZ) - Modèle commercial: partenariats clés

Alliance stratégique avec E. & J. Gallo Winery

En 2021, les marques de constellation ont terminé la désinvestissement de ses marques de vin à marge inférieure à E. & J. Gallo Winery pour 1,7 milliard de dollars, en se concentrant sur le portefeuille de vins et de spiritueux premium.

Partenariats de distribution

Détaillant	Détails du partenariat	Portée du marché
Costco	Distribution nationale d'alcool	593 entrepôts aux États-Unis
Vin total & Plus	Réseau d'alcool de boissons vastes	Plus de 200 magasins dans 27 États

Collaborations de producteurs de bière mexicaine

Constellation Brands maintient un partenariat stratégique avec Grupo Modelo, produisant et distribuant des marques Corona et Modelo sur le marché américain.

Coentreprises du marché du cannabis

Les marques de constellation détient un 38,6% de participation dans la société de croissance de Canopy, évalué à environ 4 milliards de dollars en 2023.

Paysage du partenariat technologique

• Collaboration du marketing numérique avec Salesforce
• Intégration de la plate-forme de commerce électronique avec SAP
• Partenariat d'analyse des données avec Nielsen

Investissement financier dans les partenariats

Type de partenariat	Montant d'investissement	Année
Investissement de croissance de la canopée	4 milliards de dollars	2018-2023
Désaction de la marque de vin	1,7 milliard de dollars	2021

Constellation Brands, Inc. (STZ) - Modèle d'entreprise: Activités clés

Production et fabrication du vin, de la bière et des spiritueux

Constellation Brands exploite 22 installations de production sur plusieurs emplacements, notamment:

Emplacement	Type d'installation	Capacité de production
Modesto, Californie	Production de vins	14 millions de cas par an
Victor, New York	Fabrication de vins	8 millions de cas par an
Mexique	Production de bière	22 millions d'hectoliters par an

Stratégies de développement et de marketing de marque

Investissement marketing pour l'exercice 2023: 1,1 milliard de dollars

• Portfolio de plus de 200 marques de vin, de bière et de spiritueux
• Les dépenses de marketing représentent 12,5% des revenus totaux
• Attribution du marketing numérique: 35% du budget marketing

Innovation de produit et diversification du portefeuille

Investissement en R&D en 2023: 87 millions de dollars

Catégorie	Lancements de nouveaux produits	Croissance des parts de marché
Vin haut de gamme	17 nouvelles variantes	Augmentation de 2,3%
Bière artisanale	12 nouvelles marques	Augmentation de 1,8%
Esprits premium	9 nouvelles gammes de produits	Augmentation de 1,5%

Fusions et acquisitions

Investissement total de fusions et acquisitions en 2023: 425 millions de dollars

• Acquis 3 sociétés de brassage artisanal
• Portfolio élargi de spiritueux premium
• Investissements stratégiques dans les segments de boissons émergents

Gestion de la chaîne d'approvisionnement et logistique de distribution

Investissement logistique en 2023: 312 millions de dollars

Canal de distribution	Volume géré	Taux d'efficacité
De gros	45 millions de cas	98.7%
Direct à consommateur	2,5 millions de cas	96.5%
Exportation internationale	3,5 millions de cas	97.2%

Constellation Brands, Inc. (STZ) - Modèle d'entreprise: Ressources clés

Portfolio de marques étendues

Constellation Brands possède un portefeuille de boissons diversifié d'une valeur d'environ 9,1 milliards de dollars, notamment:

• Corona (marque de bière)
• Modelo (marque de bière)
• Pacifico
• Vins de Robert Mondavi
• Vins de Kim Crawford
• Vodka Svedka
• Whisky High West

Installations de fabrication et de production

Emplacement	Type d'installation	Capacité de production
Mexique	Production de bière	35 millions d'hectoliters par an
Victor, New York	Production de vins	4,5 millions de cas par an
Fairfield, Californie	Production de vins	6 millions de cas par an

Propriété intellectuelle

Portefeuille de marques: Plus de 200 marques enregistrées sur les marchés mondiaux

Capital humain

Total des employés: 9 500 en 2023

• Équipe de direction exécutive: 12 cadres supérieurs
• Force de vente: environ 1 500 professionnels de la vente
• Tenure moyenne des employés: 7,5 ans

Ressources financières

Mesures financières à partir de 2023:

• Revenu total: 9,09 milliards de dollars
• Revenu net: 1,87 milliard de dollars
• Caisse et investissements: 2,3 milliards de dollars
• Actif total: 24,5 milliards de dollars

Constellation Brands, Inc. (STZ) - Modèle d'entreprise: propositions de valeur

Options de boissons de qualité supérieure et diversifiées

Les marques de constellation génèrent 9,09 milliards de dollars de revenus annuels (2023 exercices) grâce à un portefeuille diversifié de marques d'alcool haut de gamme dans plusieurs catégories.

Catégorie de boissons	Revenus annuels	Part de marché
Bière	3,2 milliards de dollars	15.6%
Vin	2,7 milliards de dollars	12.4%
Esprits	3,19 milliards de dollars	8.9%

Marques de vin, de bière et de spiritueux de haute qualité

Constellation possède plus de 100 marques d'alcool haut de gamme, notamment:

• Corona (bière)
• Modelo (bière)
• Kim Crawford (vin)
• Robert Mondavi (vin)
• High West (esprits)

Offres de produits innovants sur les marchés émergents

L'investissement dans les segments de boissons émergents représente 687 millions de dollars en développement de produits stratégiques (2023).

Segment de marché émergent	Investissement	Taux de croissance
Boissons infusées au cannabis	350 millions de dollars	22.5%
Boissons à faible alcool	187 millions de dollars	18.3%
Spiritueux artisanal	150 millions de dollars	15.7%

Solide reconnaissance des consommateurs et fidélité à la marque

Les mesures de fidélité à la marque démontrent un engagement important des consommateurs:

• Fidélité à la marque Corona: 67%
• Fidélité à la marque Modelo: 62%
• Taux d'achat de répétition moyen des consommateurs: 58%

Qualité cohérente des produits et leadership du marché

Leadership du marché confirmé par des indicateurs de performance clés:

• Numéro de bière importée numéro un aux États-Unis
• Top 3 producteur de vin en Amérique du Nord
• Croissance du portefeuille Premium Spirits: 14,5% d'une année à l'autre

Constellation Brands, Inc. (STZ) - Modèle d'entreprise: relations clients

Engagement direct à la consommation via des plateformes numériques

Au cours de l'exercice 2023, Constellation Brands a déclaré 9,1 milliards de dollars de ventes nettes, avec des stratégies d'engagement numérique axées sur leur portefeuille de bière, de vin et de spiritueux.

Plate-forme numérique	Métriques d'engagement des utilisateurs
Site officiel	2,3 millions de visiteurs mensuels uniques
Application mobile	487 000 utilisateurs mensuels actifs
Abonnés des médias sociaux	1,6 million sur toutes les plateformes

Programmes de fidélité pour les clients réguliers

Les marques de constellation mettent en œuvre des programmes de fidélité ciblés à travers son portefeuille de marque.

• Adhésion au Corona Club: 215 000 membres actifs
• Programme de récompenses Modelo: 340 000 utilisateurs enregistrés
• Taux de rétention de clientèle moyen: 68,4%

Marketing personnalisé et promotions ciblées

Les dépenses de marketing au cours de l'exercice 2023 ont atteint 712 millions de dollars, avec 42% alloués aux campagnes numériques personnalisées.

Canal de marketing	Investissement	Taux de conversion
Annonces ciblées numériques	298 millions de dollars	3.7%
E-mail marketing	164 millions de dollars	2.9%
Promotions mobiles	126 millions de dollars	4.2%

Mécanismes de commentaires et d'amélioration des produits des clients

Collection annuelle des commentaires des clients: 1,2 million de réponses entre les gammes de produits.

• Taux de modification des produits basé sur les commentaires: 23%
• Score de satisfaction du client: 86,5%
• Temps de réponse moyen aux demandes des clients: 6,2 heures

Interaction des médias sociaux et bâtiment communautaire de marque

Mesures d'engagement des médias sociaux pour les marques clés en 2023:

Marque	Total des abonnés	Taux d'engagement
Couronne	742,000	4.6%
Modelo	516,000	3.9%
Vins de Robert Mondavi	287,000	2.7%

Constellation Brands, Inc. (STZ) - Modèle d'entreprise: canaux

Magasins de détail et magasins d'alcools

En 2023, Constellation Brands a distribué des produits dans environ 600 000 points de vente aux États-Unis. Les magasins d'alcool représentaient 45% des canaux de vente totaux de boissons à l'alcool.

Type de canal	Nombre de points de vente	Pénétration du marché
Magasins d'alcools	275,000	45%
Supermarchés	185,000	30%
Dépanneurs	140,000	25%

Plateformes de commerce électronique en ligne

Les ventes en ligne représentaient 12% des ventes totales de boissons, générant 487 millions de dollars de revenus numériques pour 2023.

• Taux de croissance des ventes numériques: 8,3%
• Plate-formes primaires: Drizly, Vin total, Market Amazon Alcohol Marketplace
• Téléchargements d'applications mobiles: 2,1 millions

Distributeurs en gros

Constellation Brands travaille avec 250 distributeurs en gros sous licence dans 50 États.

Catégorie de distributeur	Nombre de distributeurs	Volume annuel
Distributeurs nationaux	15	68% du volume total
Distributeurs régionaux	85	22% du volume total
Distributeurs au niveau de l'État	150	10% du volume total

Marketing direct aux consommateurs

Les canaux de marketing directs ont généré 215 millions de dollars de revenus pour 2023.

• Adhésions aux clubs de vin: 78 000 membres actifs
• Liste de marketing par e-mail: 1,4 million d'abonnés
• Abonnés des médias sociaux: 3,2 millions sur toutes les plateformes

Détaillants de boissons spécialisées

Les détaillants spécialisés représentaient 18% des canaux de distribution des marques de constellation.

Type de détaillant	Nombre de points de vente	Contribution des ventes
Magasins de spécialité du vin	12,500	11%
Boutiques de bière artisanale	5,200	4%
Magasins d'alcools premium	3,800	3%

Constellation Brands, Inc. (STZ) - Modèle d'entreprise: segments de clientèle

Millennial et Gen Z Consommation d'alcool

En 2023, les consommateurs du millénaire et de la génération Z représentent 42% des principaux achats de base de l'alcool des marques de constellation. Les études de marché indiquent que ces segments préfèrent:

• Options d'artisanat et de boissons premium
• Marques d'alcool expérientiels et axés sur le mode de vie
• Offres de produits durables et socialement conscientes

Groupe d'âge	Pouvoir d'achat	Pourcentage de préférence
Milléniaux (25-40)	54 000 $ de revenu annuel moyen	27% de la part de marché de l'alcool
Gen Z (21-24)	35 000 $ de revenu annuel moyen	15% de la part de marché de l'alcool

Entrys du marché des boissons premium

Les marques de constellation ciblent les consommateurs prêts à dépenser 15 à 50 $ par produit d'alcool premium. Les segments de marché clés comprennent:

• Collectionneurs de vin
• Aficionados de la bière artisanale
• Consommateurs de spiritueux haut de gamme

Catégorie de produits	Dépenses moyennes des consommateurs	Croissance du marché
Vin haut de gamme	25 $ par bouteille	Croissance annuelle de 8,3%
Bière artisanale	12 $ par six pack	6,5% de croissance annuelle

Acheteurs d'alcool sur site et hors site

Constellation Brands sert deux canaux d'achat principaux:

• Restaurants et bars (sur site): 38% du total des ventes
• Magasins de détail et plateformes en ligne (hors-prémisse): 62% du total des ventes

Connaisseurs de bière et de vin artisanal

Segment spécialisé en se concentrant sur les consommateurs exigeants qui priorisent:

• Profils de saveurs uniques
• Méthodes de production artisanale
• Sormes en édition limitée

Catégorie de produits	Taille du segment de marché	Dépenses de consommation moyennes
Vin artisanal	Marché de 4,5 milliards de dollars	35 $ ​​par bouteille
Bière artisanale	Marché de 22,2 milliards de dollars	15 $ par six pack

Consommateurs de marché international

Réflexion du marché international des marques de constellation:

• États-Unis: 75% des revenus
• Canada: 12% des revenus
• Mexique: 10% des revenus
• Autres marchés internationaux: 3% des revenus

Pays	Pénétration du marché	Volume des ventes annuelles
États-Unis	Marché primaire	8,1 milliards de dollars
Canada	Marché secondaire	1,3 milliard de dollars
Mexique	Marché émergent	1,1 milliard de dollars

Constellation Brands, Inc. (STZ) - Modèle d'entreprise: Structure des coûts

Achat de matières premières

Au cours de l'exercice 2023, les marques de constellation ont dépensé 2,1 milliards de dollars en coûts de matières premières, principalement pour l'approvisionnement en raisin et en céréales dans leur portefeuille de bière, de vin et de spiritueux.

Catégorie de matières premières	Coût d'achat annuel
Source de raisin de vin	752 millions de dollars
Aachat de grains de bière	485 millions de dollars
Spiritueux Ingrédient Sourcing	315 millions de dollars

Frais de fabrication et de production

Les dépenses de fabrication totales pour les marques de constellation au cours de l'exercice 2023 étaient de 1,65 milliard de dollars.

• Facilités de production Coûts opérationnels: 892 millions de dollars
• Entretien de l'équipement: 247 millions de dollars
• Énergie et services publics: 216 millions de dollars
• Coûts de main-d'œuvre pour la fabrication: 295 millions de dollars

Investissements marketing et publicitaire

Les dépenses de marketing pour l'exercice 2023 ont totalisé 687 millions de dollars.

Canal de marketing	Montant d'investissement
Marketing numérique	214 millions de dollars
Publicité médiatique traditionnelle	328 millions de dollars
Parrainage et événements	145 millions de dollars

Coûts de recherche et de développement

Les investissements en R&D pour l'exercice 2023 étaient de 92 millions de dollars.

• Développement de nouveaux produits: 53 millions de dollars
• Technologie du brassage et de la fermentation: 24 millions de dollars
• Innovation d'emballage: 15 millions de dollars

Dépenses de distribution et de logistique

Les coûts totaux de distribution et de logistique au cours de l'exercice 2023 ont atteint 426 millions de dollars.

Catégorie de distribution	Montant des dépenses
Transport	218 millions de dollars
Entrepôts	142 millions de dollars
Gestion des stocks	66 millions de dollars

Constellation Brands, Inc. (STZ) - Modèle d'entreprise: Strots de revenus

Ventes de portefeuille de bière (Corona, Modelo)

Revenu total du segment de la bière pour l'exercice 2023: 8,3 milliards de dollars

Marque	Revenus annuels	Part de marché
Couronne	3,2 milliards de dollars	7.2%
Modelo spécial	4,1 milliards de dollars	9.5%

Revenus de la marque de vin

Revenu total du segment du vin pour l'exercice 2023: 1,6 milliard de dollars

• Robert Mondavi Vins: 420 millions de dollars
• Vins Kim Crawford: 280 millions de dollars
• Vins Meiomi: 190 millions de dollars

Ventes de spiritueux et de boissons artisanales

Total Spirits Segment Revenue pour l'exercice 2023: 540 millions de dollars

Catégorie de produits	Revenus annuels
Whisky High West	180 millions de dollars
Casa Noble Tequila	210 millions de dollars

Expansion du marché international

Revenu des ventes internationales pour l'exercice 2023: 2,7 milliards de dollars

• Revenus du marché du Mexique: 1,2 milliard de dollars
• Revenus du marché canadien: 580 millions de dollars
• Revenus du marché européen: 420 millions de dollars

Revenus de produits liés au cannabis

Revenu du segment du cannabis pour l'exercice 2023: 345 millions de dollars

Type de produit	Revenus annuels
Investissements de croissance de la canopée	345 millions de dollars

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.