UPDATE: BERMUDA: Bacardi hails Dewar's investment as largest ever
Bacardi has trumpeted its US$250m cash injection into Dewar's Scotch whisky as one of its largest single brand investments in its history.
The drinks company has unveiled a US$250m investment behind the whisky, in response to what it calls growing global demand for Dewar's. The investment will be spread over the next ten years, Bacardi said.
Speaking to just-drinks today (31 July), Joaquin Bacardi, the global brand manager for Dewar's, said: "What's prompted this is the increased demand particularly for our premium and super-premium offerings.
"Asia and China in particular is driving alot of the growth for Dewar's right now. The creation of a stronger middle class leads to them recognising quality premium products. The reputation of Scotch in Asia is very high."
Bacardi also noted that the $250m will be spread over the next ten years. "This is a large investment and we're planning out towards the future to help us meet demand year on year as production and volumes increase," he said.
The initial investment will double the company's existing capacity at its facility in Westhorn in Glasgow. The second phase, meanwhile, will see the company secure a 100-acre site in Scotland, which will triple the size of its aging warehouses, maturation and blending facilities.
Marketing spirits as constituents in new or popular cocktails has been a feature of the spirits category for years. And the growing emphasis on attracting younger consumers has meant the cocktail has ...
Fortune Brands has posted a slide in full-year net income despite static sales....
The auction for Vin & Sprit has begun, according to reports....
Inver House has announced that its 16 Year Old AnCnoc Single Malt Scotch Whisky will launch later this month into "key international markets"....
Pernod Ricard has refused to be drawn on whether it has submitted a preliminary bid for Vin & Sprit....
The Swedish authorities have warned that the current turbulence on global markets could slow the sale of Vin & Sprit....
United Spirits has posted a plunge in net profit for its third quarter....
The top ten most visited stories on just-drinks this week:...
- Coca-Cola pressure builds as bid rumours swirl
- Gin: Plymouth's from Plymouth, London's from...?
- Comment - Diageo Making the Best of a Bad Job?
- Comment - IPO Launch a Tonic for Fever-Tree
- Fireball Recall: Putting Out Fire with Anti-Freeze
- NPD - Moët Hennessy’s Glenmorangie Dornoch
- Anheuser-Busch InBev cuts jobs in US shake-up
- Diageo targets Millenial women with Baileys push
- Pernod blames rule changes for Plymouth GI drop
- William Grant unveils bespoke Glenfiddich website
- Early Signals: future scenarios that will drive consumption and product innovation over the next five years
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- Global Beer Opportunities: Beyond Standard Lager
- The IWSR Global Trends Report 2014
- Global Cognac insights - market forecasts, product innovation and consumer trends research