Pernod Ricard, is aiming to continue their current healthy double digit organic growth in Asia over the long term. To this aim they are opening a new distribution subsidiary in Vietnam in April of this year. The cognac company that belongs to Pernod Ricard is Martell.
CEO, Peter Coppere, has said that the group is confident in their current portfolio of products and have no plans to purchase any more brands in the short-term. He put paid to the rumours that Pernod Ricard may be about to acquire Jose Cuervo Tequila, saying that they are focusing on the debt the company took on with the purchase of the Swedish vodka Absolut.
The company is the market leader in China and India for imported alcohol, whiskeys and liqueurs with this income making up 32% in total of the group’s sales and operating income in the tax year 2009-2010. China is now their second largest market after the U.S. Around half of the group’s revenue is through its sales of cognac.
Last year their cognac sales in China grew faster than those of whiskey, with many younger drinkers being drawn to eaux-de-vie, along with some tempting sales offers. This includes bottles of their youngest cognacs on sale for less than $25 U.S. dollars.
Sources: www.latribune.fr www.pernod-ricard.com