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CIIE facilitates global whisky brands in seizing opportunities in Chinese market Release date： 2024-10-11 Source：Multiple
With China's consumer market evolving rapidly, whiskey is becoming increasingly popular in the country. A report by Morgan Stanley predicts that the Chinese whiskey market will reach $15 billion by 2030.
For the past six years, the China International Import Expo (CIIE) has been a magnet for global whiskey brands, offering them a gateway to explore the lucrative Chinese market.
At the 6th CIIE, French spirits group Remy Cointreau unveiled Bruichladdich Black Art 11.1, a nearly 30-year-old single malt Scotch whisky, marking its debut in China. The whisky was enthusiastically received by whisky enthusiasts at the expo and is set to return for this year's 7th CIIE.
By participating in the CIIE for four consecutive years, Remy Cointreau has not only increased brand awareness and product recognition among Chinese consumers but has also gained deep insights into Chinese consumer preferences and market trends, providing strong support for aligning its brand with the evolving structure of the Chinese consumer market.
In response to the growing demand for personalized luxury experiences among Chinese consumers, Remy Cointreau's renowned brand Louis XIII has set up its boutiques in China, offering Chinese consumers a unique and exclusive customized experience. This initiative underscores the group's commitment to deepening its presence in the Chinese market and accelerating innovation.
Sophie Phe, chief executive officer of Remy Cointreau in China, recognized the spillover effects of the CIIE, stating, "Through the CIIE, we not only enhance brand awareness among Chinese consumers, but also gain valuable insights into their preferences, enabling us to innovate and expand our offerings."
She further expressed her hope to contribute to a new wave of consumer upgrading through the CIIE platform, promising to continue developing high-quality products and experiences to help Chinese consumers achieve a better quality of life.
Remy Cointreau's Bruichladdich Black Art 11.1 is showcased at the 6th CIIE. [Photo/Bruichladdich]
In addition to serving as a vital bridge for companies to connect with consumers, the CIIE also acts as a gateway for foreign firms to seize investment opportunities in China. Pernod Ricard is a prime beneficiary of the expo.
Having participated in the CIIE for six consecutive years, Pernod Ricard has unveiled multiple new products at the expo, including its cognac offerings, and gained valuable insights into Chinese consumer preferences through interactive engagements.
This positive feedback has propelled Pernod Ricard to further invest in its Chuan Distillery in Sichuan province, the first malt whiskey distillery in China operated by an international spirits group.
The Chuan malt whiskey from Pernod Ricard. [Photo/Pernod Ricard]
Through this strategic investment, Pernod Ricard is not only capitalizing on the booming Chinese whiskey market but also accelerating its localization strategy. Jerome Cottin-Bizonne, CEO of Pernod Ricard China, is confident that the company will continue to expand in the Chinese market through the CIIE, meeting the demands of Chinese consumers.
In addition to showcasing European whiskey brands, the CIIE also features Japanese whiskey products. Kirin, one of Japan's largest food conglomerates, is a regular participant at the expo. At the 6th CIIE, Kirin presented its Fuji single grain whiskey and Four Roses Bourbon whiskey, with the flagship brand Fuji stealing the spotlight.
The Fuji single grain whiskey. [Photo/Kirin]
After seeing how popular the company's products were at the CIIE, Naoyuki Yasutake, director and chief executive officer of Kirin (China) Investment Company, recognized the immense potential of whiskey in the Chinese market. He emphasized that the expo not only provides a platform for consumers to learn about companies and brands but also serves as an excellent platform for direct consumer engagement.
As preparations for the 7th CIIE enter the final stages, numerous whiskey brands are gearing up to showcase their offerings on this global stage. Each brand is expected to deliver a distinctive showcase, thereby etching a memorable presence that resonates throughout this year's expo.
Sources: Xinhua News Agency, cctv.com, Economic Daily, Global Times, finance.ifeng.com, www.21jingji.com, Shanghai Morning Post, Southern Metropolis Daily, Yicai, www.jiemian.com, relevant information of included enterprises
By Zhao Guangmei