S KOREA: Pernod Ricard blames lost Imperial sales on "experimenting"
Pernod has lost Imperial sales in South Korea
Pernod Ricard has blamed a drop in sales for its blended Scotch whisky in South Korea on consumer trends towards white spirits and single malt.
The company's Imperial range has reportedly seen sales in South Korea fall by 21% in the first six months of the year, alongside a 20% drop for Diageo's blended Scotch brand, Windsor. Industry observers have blamed the decline on a consumer switch to lighter and cheaper drinks.
However, Eric Benoist, marketing director for Pernod's Scotch unit Chivas Brothers, told just-drinks this week that South Korean consumers are “experimenting” with different alcohol categories.
“The market is evolving a lot,” Benoist said. “Soju is still popular but there are new trends in the country for white spirits such as vodka and single malt.”
Benoist said Pernod needs to “find a balance” in the market as there is room in South Korea for all spirit categories.
Imperial, which underwent a packaging redesign in April, is the second-biggest selling Scotch in South Korea, selling a reported 6.8m litres last year behind Diageo's Windsor's 7.2m litres. Pernod took full control of Imperial in June last year.
Benoist was speaking at the opening of Chivas Brother's new super-premium bottling hall in Paisley, near Glasgow, on Tuesday. The “Prestige Hall”, which is part of Pernod's new GBP40m (US$62.2m) annual investment in Scotch to increase production, will bottle Chivas products including Imperial, Royal Salute and Chivas Regal.
Chivas said the hall will allow for more complex packaging that will help its products stand out in the competitive high-end spirits market.
MarketLine's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organi...
"The Future of the Wine Market in Australia to 2017: Market Size, Distribution and Brand Share, Key Events and Competitive Landscape" is the result of Canadean’s extensive market and company research....
"The Future of the Wine Market in the United Arab Emirates to 2017: Market Size, Distribution and Brand Share, Key Events and Competitive Landscape" is the result of Canadean’s extensive market and co...
"The Future of the Spirits Market in India to 2017: Market Size, Distribution and Brand Share, Key Events and Competitive Landscape" is the result of Canadean’s extensive market and company research. ...
- Focus - Edrington's FY Performance by Brand
- Pernod relies on Indian whiskey to crack Africa
- Hail Marie Brizard: But, For How Long?
- 5 reasons why Constellation's Meiomi buy works
- NPD: The Clear Soft Drink Trend is Back
- Comment - Diageo CFO to North America? Do the Math
- Diageo CFO Mahlan to head up N America
- Diageo sells "non-core" Gleneagles
- Diageo lining up Gleneagles sale - report
- Pernod Ricard allays Havana Club shortage fears
- Global liqueurs insights - market forecasts, product innovation and consumer trends research
- Edrington Group in Spirits (World)
- Diageo plc (DGE) - Financial and Strategic SWOT Analysis Review
- The IWSR Company Profile 2014 – Remy Cointreau
- Global Tequila insights - market forecasts, product innovation and consumer trends research