Constellation Brands, Inc. (STZ): Modelo de negócios Canvas [Jan-2025 Atualizado]

A Constellation Brands, Inc. (STZ) permanece como uma potência na indústria de álcool de bebidas, navegando magistralmente na complexa paisagem de vinho, cerveja e espíritos com uma abordagem estratégica que transcende os modelos de negócios tradicionais. De suas icônicas marcas de cerveja Corona e Modelo até empreendimentos inovadores do mercado de cannabis, a empresa criou uma tela de negócios dinâmicos que combina perfeitamente ofertas premium de produtos, parcerias estratégicas e posicionamento de mercado de ponta. Ao direcionar diversos segmentos de clientes e alavancar um portfólio robusto de marcas, a Constellation Brands se posicionou como um líder global que se adapta continuamente às preferências em evolução do consumidor e às oportunidades de mercado emergentes.

Constellation Brands, Inc. (STZ) - Modelo de negócios: Parcerias -chave

Aliança estratégica com E. & J. Gallo Winery

Em 2021, a Constellation Brands concluiu a desinvestimento de suas marcas de vinho de margem inferior a E. & J. Gallo Winery por US $ 1,7 bilhão, com foco no portfólio premium de vinho e bebidas espirituosas.

Parcerias de distribuição

Varejista	Detalhes da parceria	Alcance do mercado
Costco	Distribuição nacional de álcool	593 armazéns nos Estados Unidos
Vinho total & Mais	Rede de álcool de bebidas extensas	Mais de 200 lojas em 27 estados

Colaborações de produtores de cerveja mexicanos

A Constellation Brands mantém uma parceria estratégica com a GRUPO Modelo, produzindo e distribuindo marcas Corona e Modelo no mercado dos Estados Unidos.

Joint ventures do mercado de cannabis

As marcas de constelação possuem um 38,6% de participação na Canopy Growth Corporation, avaliado em aproximadamente US $ 4 bilhões em 2023.

Cenário de Parceria Tecnológica

• Colaboração de marketing digital com Salesforce
• Integração da plataforma de comércio eletrônico com SAP
• Data Analytics Partnership com a Nielsen

Investimento financeiro em parcerias

Tipo de parceria	Valor do investimento	Ano
Investimento em crescimento do dossel	US $ 4 bilhões	2018-2023
Desvestar da marca de vinho	US $ 1,7 bilhão	2021

Constellation Brands, Inc. (STZ) - Modelo de negócios: Atividades -chave

Produção e fabricação de vinho, cerveja e bebidas espirituosas

As marcas de constelação opera 22 instalações de produção em vários locais, incluindo:

Localização	Tipo de instalação	Capacidade de produção
Modesto, Califórnia	Produção de vinho	14 milhões de casos anualmente
Victor, Nova York	Fabricação de vinho	8 milhões de casos anualmente
México	Produção de cerveja	22 milhões de hectoliters anualmente

Estratégias de desenvolvimento e marketing da marca

Investimento de marketing para o ano fiscal de 2023: US $ 1,1 bilhão

• Portfólio de mais de 200 marcas de vinho, cerveja e bebidas espirituosas
• Os gastos com marketing representam 12,5% da receita total
• Alocação de marketing digital: 35% do orçamento de marketing

Inovação de produtos e diversificação de portfólio

Investimento de P&D em 2023: US $ 87 milhões

Categoria	Novos lançamentos de produtos	Crescimento de participação de mercado
Vinho premium	17 novas variantes	2,3% de aumento
Cerveja artesanal	12 novas marcas	1,8% de aumento
Espíritos premium	9 novas linhas de produtos	Aumento de 1,5%

Fusões e aquisições

Investimento total de fusões e aquisições em 2023: US $ 425 milhões

• Adquiriu 3 empresas de fabricação de cerveja artesanais
• Portfólio de espíritos premium expandido
• Investimentos estratégicos em segmentos de bebidas emergentes

Gerenciamento da cadeia de suprimentos e logística de distribuição

Investimento de logística em 2023: US $ 312 milhões

Canal de distribuição	Volume tratado	Taxa de eficiência
Atacado	45 milhões de casos	98.7%
Direto ao consumidor	2,5 milhões de casos	96.5%
Exportação Internacional	3,5 milhões de casos	97.2%

Constellation Brands, Inc. (STZ) - Modelo de negócios: Recursos -chave

Extenso portfólio de marcas

A Constellation Brands possui um portfólio diversificado de bebidas avaliado em aproximadamente US $ 9,1 bilhões, incluindo:

• Corona (marca de cerveja)
• Modelo (marca de cerveja)
• Pacifico
• Vinhos Robert Mondavi
• Vinhos Kim Crawford
• Svedka vodka
• Uísque de High West

Instalações de fabricação e produção

Localização	Tipo de instalação	Capacidade de produção
México	Produção de cerveja	35 milhões de hectoliters anualmente
Victor, Nova York	Produção de vinho	4,5 milhões de casos por ano
Fairfield, Califórnia	Produção de vinho	6 milhões de casos por ano

Propriedade intelectual

Portfólio de marcas comerciais: Mais de 200 marcas registradas em mercados globais

Capital humano

Total de funcionários: 9.500 a partir de 2023

• Equipe de liderança executiva: 12 executivos seniores
• Força de vendas: aproximadamente 1.500 profissionais de vendas
• Posse média dos funcionários: 7,5 anos

Recursos financeiros

Métricas financeiras a partir de 2023:

• Receita total: US $ 9,09 bilhões
• Lucro líquido: US $ 1,87 bilhão
• Caixa e investimentos: US $ 2,3 bilhões
• Total de ativos: US $ 24,5 bilhões

Constellation Brands, Inc. (STZ) - Modelo de negócios: proposições de valor

Opções de bebidas alcoólicas premium e diversas

As marcas de constelação gera US $ 9,09 bilhões em receita anual (2023 ano fiscal) através de um portfólio diversificado de marcas de álcool premium em várias categorias.

Categoria de bebida	Receita anual	Quota de mercado
Cerveja	US $ 3,2 bilhões	15.6%
Vinho	US $ 2,7 bilhões	12.4%
Espíritos	US $ 3,19 bilhões	8.9%

Marcas de vinho, cerveja e espíritos de alta qualidade

A Constellation possui mais de 100 marcas premium de álcool, incluindo:

• Corona (cerveja)
• Modelo (cerveja)
• Kim Crawford (vinho)
• Robert Mondavi (vinho)
• High West (Spirits)

Ofertas inovadoras de produtos em mercados emergentes

O investimento em segmentos emergentes de bebidas representa US $ 687 milhões em desenvolvimento estratégico de produtos (2023).

Segmento de mercado emergente	Investimento	Taxa de crescimento
Bebidas com infusão de cannabis	US $ 350 milhões	22.5%
Bebidas de baixo álcool	US $ 187 milhões	18.3%
Espíritos artesanais	US $ 150 milhões	15.7%

Forte reconhecimento do consumidor e lealdade à marca

As métricas de fidelidade da marca demonstram engajamento significativo do consumidor:

• CORONA Brand Lealty: 67%
• Modelo Lealdade à marca: 62%
• Taxa média de compra de repetição do consumidor: 58%

Qualidade consistente do produto e liderança de mercado

Liderança de mercado confirmada através dos principais indicadores de desempenho:

• Marca de cerveja importada número um nos Estados Unidos
• Top 3 produtor de vinho na América do Norte
• Crescimento do portfólio de espíritos premium: 14,5% ano a ano

Constellation Brands, Inc. (STZ) - Modelo de Negócios: Relacionamentos do Cliente

Engajamento direto do consumidor por meio de plataformas digitais

No ano fiscal de 2023, a Constellation Brands registrou US $ 9,1 bilhões em vendas líquidas, com estratégias de engajamento digital focadas em seu portfólio de cerveja, vinho e bebidas espirituosas.

Plataforma digital	Métricas de engajamento do usuário
Site oficial	2,3 milhões de visitantes mensais únicos
Aplicativo móvel	487.000 usuários mensais ativos
Seguidores de mídia social	1,6 milhão entre plataformas

Programas de fidelidade para clientes recorrentes

As marcas de constelação implementa programas de fidelidade direcionados em seu portfólio de marcas.

• Membros do Clube Corona: 215.000 membros ativos
• Programa de recompensas Modelo: 340.000 usuários registrados
• Taxa média de retenção de clientes: 68,4%

Marketing personalizado e promoções direcionadas

As despesas de marketing no ano fiscal de 2023 atingiram US $ 712 milhões, com 42% alocados para campanhas digitais personalizadas.

Canal de marketing	Investimento	Taxa de conversão
Anúncios direcionados digitais	US $ 298 milhões	3.7%
Marketing por e -mail	US $ 164 milhões	2.9%
Promoções móveis	US $ 126 milhões	4.2%

Feedback do cliente e mecanismos de melhoria do produto

Coleta anual de feedback do cliente: 1,2 milhão de respostas nas linhas de produtos.

• Taxa de modificação do produto com base no feedback: 23%
• Pontuação de satisfação do cliente: 86,5%
• Tempo médio de resposta às consultas do cliente: 6,2 horas

Interação das mídias sociais e construção da comunidade de marca

Métricas de engajamento de mídia social para as principais marcas em 2023:

Marca	Total de seguidores	Taxa de engajamento
Corona	742,000	4.6%
Modelo	516,000	3.9%
Vinhos Robert Mondavi	287,000	2.7%

Constellation Brands, Inc. (STZ) - Modelo de Negócios: Canais

Lojas de varejo e lojas de bebidas

Em 2023, as marcas de constelação distribuíram produtos através de aproximadamente 600.000 pontos de venda nos Estados Unidos. As lojas de bebidas representaram 45% do total de canais de vendas de bebidas alcoólicas.

Tipo de canal	Número de pontos de venda	Penetração de mercado
Lojas de bebidas	275,000	45%
Supermercados	185,000	30%
Lojas de conveniência	140,000	25%

Plataformas online de comércio eletrônico

As vendas on -line representaram 12% do total de vendas de bebidas, gerando US $ 487 milhões em receita digital para 2023.

• Taxa de crescimento de vendas digitais: 8,3%
• Plataformas primárias: Drizly, Wine Wine, Amazon Alcool Marketplace
• Downloads de aplicativos móveis: 2,1 milhões

Distribuidores por atacado

As marcas de constelação trabalham com 250 distribuidores de atacado licenciados em 50 estados.

Categoria de distribuidor	Número de distribuidores	Volume anual
Distribuidores nacionais	15	68% do volume total
Distribuidores regionais	85	22% do volume total
Distribuidores em nível estadual	150	10% do volume total

Marketing direto ao consumidor

Os canais de marketing direto geraram US $ 215 milhões em receita para 2023.

• Associações do Wine Club: 78.000 membros ativos
• Lista de marketing por e -mail: 1,4 milhão de assinantes
• Seguidores de mídia social: 3,2 milhões entre plataformas

Varejistas de bebidas especiais

Os varejistas especializados foram responsáveis ​​por 18% dos canais de distribuição das marcas de constelação.

Tipo de varejista	Número de pontos de venda	Contribuição de vendas
Lojas especializadas em vinhos	12,500	11%
Lojas de cerveja artesanal	5,200	4%
Lojas de bebidas premium	3,800	3%

Constellation Brands, Inc. (STZ) - Modelo de negócios: segmentos de clientes

Consumidores de álcool milenar e general

A partir de 2023, os consumidores da geração do milênio e da geração Z representam 42% da demográfica principal de compra de álcool da Constellation Brands. A pesquisa de mercado indica que estes segmentos preferem:

• Opções de bebidas artesanais e premium
• Marcas de álcool experimentais e de estilo de vida
• Ofertas sustentáveis ​​e socialmente conscientes

Faixa etária	Poder aquisitivo	Porcentagem de preferência
Millennials (25-40)	Receita média anual de US $ 54.000	27% da participação de mercado de álcool
Gen Z (21-24)	Receita média anual de US $ 35.000	15% da participação de mercado de álcool

Entusiastas do mercado de bebidas premium

As marcas de constelação têm como alvo os consumidores dispostos a gastar de US $ 15 a US $ 50 por produto de álcool premium. Os principais segmentos de mercado incluem:

• Coletores de vinho
• Aficionados por cerveja artesanal
• Consumidores de espíritos de ponta

Categoria de produto	Gasto médio do consumidor	Crescimento do mercado
Vinho premium	US $ 25 por garrafa	8,3% de crescimento anual
Cerveja artesanal	US $ 12 por pacote seis	6,5% de crescimento anual

Compradores de álcool no local e fora do local

As marcas de constelação servem dois canais de compra primários:

• Restaurantes e bares (local): 38% do total de vendas
• Lojas de varejo e plataformas on-line (fora do local): 62% do total de vendas

Os conhecedores de cerveja e vinho artesanais

Segmento especializado com foco em consumidores discernantes que priorizam:

• Perfis de sabor exclusivos
• Métodos de produção artesanal
• Lançamentos de edição limitada

Categoria de produto	Tamanho do segmento de mercado	Gastos médios ao consumidor
Vinho artesanal	Mercado de US $ 4,5 bilhões	US $ 35 por garrafa
Cerveja artesanal	Mercado de US $ 22,2 bilhões	US $ 15 por pacote seis

Consumidores do mercado internacional

A quebra do mercado internacional da Constellation Brands:

• Estados Unidos: 75% da receita
• Canadá: 12% da receita
• México: 10% da receita
• Outros mercados internacionais: 3% da receita

País	Penetração de mercado	Volume anual de vendas
Estados Unidos	Mercado primário	US $ 8,1 bilhões
Canadá	Mercado secundário	US $ 1,3 bilhão
México	Mercado emergente	US $ 1,1 bilhão

Constellation Brands, Inc. (STZ) - Modelo de negócios: estrutura de custos

Aquisição de matéria -prima

No ano fiscal de 2023, as marcas de constelação gastaram US $ 2,1 bilhões em custos de matéria -prima, principalmente para compras de uvas e grãos em seu portfólio de cerveja, vinho e bebidas espirituosas.

Categoria de matéria -prima	Custo anual de compras
Fornecimento de uva de vinho	US $ 752 milhões
Compras de grãos de cerveja	US $ 485 milhões
Spirits Ingredient Sourcing	US $ 315 milhões

Despesas de fabricação e produção

As despesas totais de fabricação para marcas de constelação no ano fiscal de 2023 foram de US $ 1,65 bilhão.

• Custos operacionais da instalação de produção: US $ 892 milhões
• Manutenção do equipamento: US $ 247 milhões
• Energia e utilitários: US $ 216 milhões
• Custos de mão -de -obra para fabricação: US $ 295 milhões

Investimentos de marketing e publicidade

As despesas de marketing para o ano fiscal de 2023 totalizaram US $ 687 milhões.

Canal de marketing	Valor do investimento
Marketing digital	US $ 214 milhões
Publicidade tradicional da mídia	US $ 328 milhões
Patrocínio e eventos	US $ 145 milhões

Custos de pesquisa e desenvolvimento

Os investimentos em P&D para o ano fiscal de 2023 foram de US $ 92 milhões.

• Desenvolvimento de novos produtos: US $ 53 milhões
• Tecnologia de fabricação e fermentação: US $ 24 milhões
• Inovação de embalagem: US $ 15 milhões

Despesas de distribuição e logística

Os custos totais de distribuição e logística no ano fiscal de 2023 atingiram US $ 426 milhões.

Categoria de distribuição	Quantidade de despesa
Transporte	US $ 218 milhões
Armazenamento	US $ 142 milhões
Gerenciamento de inventário	US $ 66 milhões

Constellation Brands, Inc. (STZ) - Modelo de negócios: fluxos de receita

Vendas de portfólio de cerveja (Corona, Modelo)

Receita total do segmento de cerveja para o ano fiscal de 2023: US $ 8,3 bilhões

Marca	Receita anual	Quota de mercado
Corona	US $ 3,2 bilhões	7.2%
Modelo Especial	US $ 4,1 bilhões	9.5%

Receitas da marca de vinho

Receita total do segmento de vinho para o ano fiscal de 2023: US $ 1,6 bilhão

• Vinhos Robert Mondavi: US $ 420 milhões
• Vinhos Kim Crawford: US $ 280 milhões
• Vinhos Meiomi: US $ 190 milhões

Vendas de bebidas espirituosas e artesanato

Receita do segmento total de bebidas espirituosas para o ano fiscal de 2023: US $ 540 milhões

Categoria de produto	Receita anual
Uísque de High West	US $ 180 milhões
Casa Noble Tequila	US $ 210 milhões

Expansão do mercado internacional

Receita internacional de vendas para o ano fiscal de 2023: US $ 2,7 bilhões

• Receita do mercado do México: US $ 1,2 bilhão
• Receita do mercado canadense: US $ 580 milhões
• Receita do mercado europeu: US $ 420 milhões

Receita de produtos relacionados à cannabis

Receita do segmento de cannabis para o ano fiscal de 2023: US $ 345 milhões

Tipo de produto	Receita anual
Investimentos em crescimento do dossel	US $ 345 milhões

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.