Global Spirits Giants Rush to Hainan: Diageo and Pernod Ricard Open More Stores

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The 21st Century Business Herald reporter attended the 2nd China International Consumer Products Expo held in Haikou and learned that in addition to exhibiting twice in a row with a host of its brands, two of the world's largest spirits giants, Diageo and Pernod Ricard, have both increased their layout in Hainan's duty-free channel by setting up additional stores.

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In June this year, the world's largest Martell duty-free boutique settled in Haikou Riyue Plaza GDF Duty-Free City, where diversified high-tech artificial intelligence brings a new immersive, interactive and personalized shopping experience. After the first Martell duty-free boutique in Hainan landed in Sanya last year, Pernod Ricard opened its first cross-category boutique in the travel retail sector - "Pinwai Appreciation Hall" in Haikou. The full range of Martell products, classic Scottish blended whiskies such as Ballantine's, Chivas Regal and Royal Salute, as well as Scotch malts such as Granville and Secret Speyside, are gathered here.

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Pernod Ricard ranks second in the global spirits and wine industry with consolidated sales of €8.8 billion in fiscal 2021 and owns 16 of the world's top 100 spirits brands.

On July 26, Diageo China Managing Director Mark Edwards told the 21st Century Business Herald at the second China International Consumer Products Expo that this year was Diageo's second appearance at the China International Consumer Products Expo. At present, Diageo has seven shop-in-shops in the duty-free channel in Hainan and will open three more shop-in-shops to have a total of 10 stores in the duty-free channel in the Hainan market. He said that Diageo will further increase resources in the Hainan market, such as staffing, brand building and retail channel investment. In Diageo's view, Hainan itself has enormous development opportunities and is also an excellent showcase.

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Since the outbreak of the epidemic, the import volume and import value of whisky in all imported alcohol achieved high year-on-year growth. The 21st Century Business Herald reporter learned from the CCCFNA and Livestock Liquor Importers and Exporters Branch, 2021, imported spirits across the board upward, the volume scale is record-breaking, the year-on-year growth rate reached a peak in the middle of the year after the start of the correction. Among them, the volume of imports of whisky is a record high, the annual import volume exceeded 30 million litres for the first time, an increase of 44% year on year, and the import value of $ 460 million, nearly doubled year-on-year growth.

China's domestic whisky investment fever has also been on the rise. Diageo’s whisky factory opened in Yunnan Dali Eryuan County, Pernod Ricard in Sichuan Emeishan City whisky factory out of the wine for sale, including TSINGTAO, Chinese Baijiu industry and much other beer, liquor companies also entered the whisky track.

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Also, the CCCFNA and Livestock Liquor Importers and Exporters Branch reported that the vast majority of imported liquor was lower across the board in the first quarter of this year. However, whisky import volume and import value increased by 13% and 29% year-on-year respectively, and its import value has risen from 18% of all imported spirits in the whole of last year to about one-third. From January to May, the whisky category continued its year-on-year growth in import volume and value.

"The whisky category has an annual penetration rate of only 3% in the Chinese consumer market, which means there is still 97% of Chinese consumers who do not choose to drink whisky every year now, with plenty of room for growth. We see an opportunity to continue to promote the healthy growth of the whisky category in the Chinese market and in the international market." Eynwald said.

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Source(s): 21st century business herald

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