News

CHINA: Pernod Ricard plays down targeted China approach

Most popular

Pernod Ricard in YTD fiscal-2021 - preview

The just-drinks Analyst returns - Apr '21

The just-drinks Analyst returns - Apr '20

Remy Cointreau in fiscal-2021 - results preview

Heineken throws Q1 surprise - analysis

MORE

Pernod Ricard has played down reports that it will be targeting higher income households in China.

In a report yesterday (29 May), French newspaper Le Monde said the drinks giant would look to target households in the country which have an annual income of US$5,000 or more. This sector of the population is expected to reach 10% by 2010, the paper noted, compared with 8% in 2005.

Speaking to just-drinks today (30 May), a spokesperson for Pernod said: "We're not doing anything special (to target particular households)."

The company confirmed, however, that it was following forecasted statistics that showed China and India as two of the best places to invest in as part of a long-term growth strategy.

The spokesperson continued: "In our industry, if you look long-term, China and India will be the two major engines of the world economy. The US will remain a very important market, but China will be the key for growth. This is due to the economic growth and the size of the country, combined with more people earning over-average incomes. Lots of Chinese people want to drink Chivas and Ballantine's in discoteques, so we are there with a strong distribution network and a full portfolio and our own sales force. More and more Chinese people have more money to spend and want access to international imported products and premium brands. We are simply seeing potential in this growing consumer demand."

The focus for investment follows Chivas Brothers launching its campaign to promote its entire Ballantine's Scotch Whisky range internationally.

The Pernod-owned company announced this month, that it is investing EUR40m (US$54m) in the global positioning of its Ballantine's range and aims to take the outright number two volume position in the world Scotch whisky league.


Related Content

Pernod Ricard braces for coronavirus hit as China on-premise shuts down

Pernod Ricard braces for coronavirus hit as China on-premise shuts down...

Pernod Ricard in H2 2020 - results preview

Pernod Ricard in H2 2020 - results preview...

Pernod Ricard Performance Trends 2016-2020 - results data

Pernod Ricard Performance Trends 2016-2020 - results data...

How did Pernod Ricard perform in H1 fiscal-2020? - results data

How did Pernod Ricard perform in H1 fiscal-2020? - results data...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?