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French wines and spirits group, Pernod Ricard, says it plans to invest some €100m in a major push to develop its position in Asian markets.

The acquisition of Seagram had significantly enhanced the company's position in Asian markets, chairman and CEO of Pernod Ricard Asia, Philippe Dreano, said. The company has risen from fifth place among drinks groups in Asia to the number two spot behind Diageo.

Dreano said the group's main promotional focus in the region would be Chivas Regal Scotch whisky and Martell Cognac. South Korea, China and Thailand were all identified as prime markets. As part of the group's Asian development plans, Pernod is moving its regional headquarters from Japan to Hong Kong in June.
 
Pernod Ricard's sales in Asia are expected to increase by 6% this year and the region is forecast to contribute 20% of the group's total sales within five years, against 12% last year.


Companies: Pernod Ricard, Diageo

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