Red Bull co-owner Dietrich Mateschitz said the company will begin “tapping into” China next year

Red Bull co-owner Dietrich Mateschitz said the company will begin “tapping into” China next year

Red Bull has said that it will look to enter the Chinese energy drinks market in the New Year.

In an interview with German publication Lebensmittel Zeitung late last week, the founder of the Austrian energy drinks firm, Dietrich Mateschitz, said the company will begin "tapping into" the market in early-2011. It is understood that the firm has previously had problems entering China due to Red Bull's Thai-co owner having the distribution rights for his own brand, Krating Daeng, in the country.

Mateschitz did not disclose further details behind the plans, although he did forecast a 15% increase in global sales for Red Bull to EUR3.8bn (US$5.01bn) in 2010.

When contacted by just-drinks today (21 December), Red Bull confirmed its intention to enter the Chinese market but declined to give further information.

Earlier this year, the firm reported a fall in sales in 2009 due to the global economic climate. Net sales for the 12 months to the end of December last year dropped to EUR3.27bn compared with EUR3.32bn in 2008.