China’s rising consumption of spirits like cognac and whisky will push multinational corporations like Remy Cointreau to invest more to meet local demand, said Phe, CEO of Remy Cointreau China. — Reuters
SHANGHAI: Driven by China’s offshore duty-free shopping policies in the Hainan Free Trade Port, and soaring demand for premium and diversified alcohol products, Remy Cointreau Group, the French spirits company, will introduce more products and expand its sales in duty-free channels in the country’s lucrative market, says a senior executive.
With growing middle-income earners and their increasingly discerning tastes, China’s rising consumption of spirits like cognac and whisky will push multinational corporations like Remy Cointreau to invest more to meet local demand, said Sophie Phe, chief executive officer of Remy Cointreau China.
Speaking during the third China International Consumer Products Expo (CICPE) held in Haikou, Hainan province, last week, Phe said Remy Cointreau, a three-time CICPE participant, showcased a range of products, including champagne, Scotch whisky, gin and cognac, at the grand event.
To meet domestic demand for single malt whisky, the company recently released two new single malts, Octomore 13.1 and Black Art 10.1, from its distillery on the island of Islay, Scotland, in the Chinese market.
The executive said that China’s influential international exhibitions, such as the CICPE and the China International Import Expo, are key platforms for foreign companies like Remy Cointreau to further promote sales and brand awareness.
“They represent a fantastic opportunity to showcase our products and share our core values with consumers, as well as demonstrate our long-term commitment to the Chinese market,” said Phe.
She added that the International Consumer Products Expo and the Hainan Free Trade Port will play a vital role in the global travel retail sector, serving as a window into China. — China Daily/ANN
