Pernod to invest in Chivas Regal to rebuild brand in ChinaBy Melita Kiely
Pernod Ricard plans to invest more money in Chivas Regal to rebuild the blended Scotch whisky brand in China after admitting the company “made mistakes”.
Speaking at a roundtable meeting in London yesterday (5 September), Laurent Lacassagne, Chivas Brothers CEO, opened up about “mistakes” made by the French drinks group when it came to Scotch whisky in China – particularly with the Chivas Regal brand.
In its latest full-year results, Pernod announced a 3% organic sales decline for Chivas Regal globally, with volume sales down 2%.
“We made some mistakes. But the whisky market in China is starting to rebuild itself,” said Lacassagne. “We believe we have the foundations to bring back brand growth in the China market.
“We will focus on China with [Chivas Regal] Extra, which currently launched on 1 September in China. We have started to significantly invest in the brand from this year. We are working in the right way.
“We are adding a new platform with sport. We believe sport is relevant for our target audience. Our target sport in China is the NBA, which is starting this autumn.”