Emperador sales volume seen growing up to 35%
Andrew Tan-led Emperador Inc., the world’s largest brandy company, remains optimistic of the business environment here and abroad as it sees sales volume growing between 30 to 35 percent this year.
In a press briefing following the company’s annual stockholders meeting yesterday, Emperador president Winston Co said the company’s businesses are doing well in the local and international markets.
In the Philippines, he said strong consumer spending is driving demand for the company’s products. He said the country’s strong economic growth is expected to continue boosting consumption spending.
“There is a consumption story in the Philippines,” Co said.
The company is likewise seeing strong consumer spending growth in Asia.
Emperador owns Spanish brandy and sherry brands led by the iconic Fundador. In 2014, it bought Scotch company Whyte and Mackay, which jumpstarted the company’s global expansion.
Whyte & Mackay is the fifth largest Scotch whisky manufacturer in the United Kingdom that is behind the brands The Dalmore, Jura Single Malt Whisky, Mackinlay’s Shackleton Malt Whisky, Whyte & Mackay Scotch Whisky, Vladivar Vodka, among others.
Its brands are now available in 100 countries around the world.
In his message during the stockholders meeting, Emperador chairman Andrew Tan said Fundador continued to assert itself as a leading global brand.
“We have invested considerable amount of resources to bring new exciting products to the Philippines and the rest of the world. Our premiumization efforts and our strategy to grow our business worldwide are underway. We are excited about the prospect of these initiatives,” Tan said.
He said that in the Philippines, despite stiff competition, the company has sustained its leadership through its market efforts and because of the product’s quality.
“We are now well on our way to replicating this success in the relatively nascent domestic whisky market through our wide range of brands and offers. As we move on to 2018 and beyond, I remain truly confident that the vision and commitment that have sustained us for decade will remain our beacon for more achievements in the future,” Tan said.
In the first quarter, the company posted an 11 percent growth in net income to P1.66 billion, while revenues grew 8.5 percent to P9.7 billion.