国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Companies

Brown-Forman, Wuliangye sign cooperation deal

By WANG ZHUOQIONG (China Daily) Updated: 2014-12-16 09:32

Brown-Forman, Wuliangye sign cooperation deal

A sales assistant showcases a bottle of Wuliangye white spirits at a supermarket in Ganyu county, Jiangsu province. [Provided to China Daily]

New products will counter impact of govt crackdown against corruption

Baijiu maker Wuliangye Yibin Co Ltd has teamed up with United States liquor giant Brown-Forman Corp to develop new products for emerging markets and counter sluggish baijiu sales business due to the ongoing crackdown on corruption and extravagance in China.

Brown-Forman, the Louisville-based wine and spirits producer that owns famous whiskey brand Jack Daniels, has already signed a cooperation agreement with Wuliangye in this regard, said sources.

Brown-Forman, Wuliangye sign cooperation deal

The US company was ranked third in China's whiskey market in 2013, behind France's Pernod Ricard Groupe and the United Kingdom-based Diageo Plc. Pernod Ricard had 45 percent of the market share in China, followed by Diageo with 19.5 percent and Brown-Forman at 8.7 percent, according to statistics provided by Euromonitor International.

James Roy, associate principal at China Market Research Group, said Wuliangye and Kweichow Moutai Group Co Ltd, the two baijiu leaders in China, have suffered due to the anti-corruption drive as government, military and enterprises' spending on luxury banquets has dried up, thereby leading to flagging sales.

But foreign spirits such as whiskeys have not done that badly during the same period as there are more opportunities for people to drink foreign spirits for their own leisure and entertainment such as socializing.

"The bar culture has played a big role in boosting demand in Chinese cities. It was not always like this before. So it makes sense that Brown-Forman has partnered with Wuliangye, a company that needs more diversification, and still has strong presence in distribution channels," said Roy.

Xiao Zhuqing, a liquor marketing specialist, said both companies are expected to develop emerging categories such as the cocktail brand Rio that targets young consumers.

"It is a growing trend that the age group of consumers using liquor products is becoming younger," said Xiao.

"Ready-to-drink cocktail has achieved quite positive reception among young consumer groups, inviting increasing attention from liquor producers to cash in the market."

Between 2009 and 2013, the cocktail market has maintained annual growth of 30 percent and is expected to reach 4 billion yuan ($647 million) this year, according to industry sources. The growth rate is much higher than liquor at 6 percent, beer at 9 percent and wine at 5 percent.

The lucrative cocktail market has also attracted several investors. Shanghai Bairun Flavor & Fragrance Co Ltd has acquired Shanghai Bakesi Wine Ltd, producer of cocktail brand Rio.

Shanghai Bakesi has achieved net profits of 4.9 million yuan, 20.2 million yuan and 110 million yuan in three years starting from 2012.

Liquor products are often sold through banquets, supermarkets or dealers while foreign spirits are mostly distributed in night clubs, said Xiao.

Hot Topics

Editor's Picks
...
湖南省| 乌兰县| 尼木县| 湄潭县| 石渠县| 海阳市| 临安市| 永寿县| 孟津县| 辽宁省| 渝北区| 永兴县| 黔南| 彝良县| 利辛县| 中卫市| 恩平市| 绥滨县| 荥经县| 亳州市| 西城区| 漳平市| 宜宾县| 阿拉善盟| 华宁县| 娱乐| 黎川县| 巫溪县| 左权县| 庆云县| 德令哈市| 邵武市| 九龙县| 闸北区| 会昌县| 黄冈市| 绥宁县| 奉节县| 双流县| 江油市| 那坡县|