Gruppo Campari has added further details to plans to handle its own distribution in South Africa, with the new subsidiary - Campari South Africa - becoming operational on 1 January.
Campari CEO Bob Kunze-Concewitz said South Africa leads the way in Africa
On a conference call following the release yesterday of the group's Q3 & YTD results, CEO Bob Kunze-Concewitz said the growth potential across is proving attractive to drinks companies. Campari's move in South Africa would serve as a "launch pad" for the African market, he said, noting that whatever happens in the continent "gets kicked off" in South Africa.
"We've always viewed South Africa as the launch pad for Africa and our brands have done particularly well in the past few years there," he said. "We believe strongly in the continent, as well as the potential of our global priority and certain regional priority brands in Africa."
Kunze-Concewitz said the region currently only represents 1% of the group's sales.
"We strongly believe in the mid- to long-term potential of our portfolio," he said. "It's an attractive region [showing] very nice growth in the areas of premium and super-premium brands. So, we will benefit from this in the years to come."
The company is currently de-stocking in South Africa, in preparation for taking on its own brands.
For a breakdown of Campari's year-to-date performance by region, click here
Sectors: Company results, Spirits, Wine
