US: Reed's signs South Korea deal
Reed's enters South Korea
US soft drinks maker Reed's has signed a deal to launch its products in South Korea.
Reed's said yesterday (22 June) that it has signed a distribution agreement with a speciality gourmet food and drink business based in Seoul, the capital of South Korea.
The move will see "a few" of Reed's' handcrafted ginger ales and Sonoma Sparklers sold in the country, Reed's said.
"We are excited to enter the Asian market through a fast-growing distributor of upscale gourmet and natural premium branded foods and beverages to natural grocery markets, produce markets, and supermarkets in South Korea," said Chris Reed, founder, chairman and CEO of Reed's.
"This is a new and fascinating market for us as South Korean consumers are looking for premium products with natural and healthy ingredients such as are found in Reed’s and avoiding artificially flavoured beverages."
Neal Cohane, Reed’s senior VP of sales and marketing, said that Reed’s has been exploring new markets outside of the US.
On South Korea, he said: "The majority of the country’s food and beverages are imported, with overall imports to the country totaling US$323.1bn in 2009, and a rapidly growing market for organic products. This is an amazing opportunity for Reed’s all natural premium products.”
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