EMPERADOR, INC. is targeting to bring its local brandy brand to Latin America next year after the products of its Mexican subsidiary became the dominant brand in the market.
In a statement, Tuesday, the Andrew L. Tan-led liquor manufacturer said its Mexican subsidiary, Casa Pedro Domecq, now has 57% of the brandy market share in Mexico, citing data by marketing firm Nielsen Corp.
The increasing appetite for brandy in the region has convinced the company to begin exporting Emperador Brandy to Mexico and other Latin American countries by 2021.
“There is a growing appetite for imported brandy in this market especially for brandy coming from the Philippines. Initial studies have shown very encouraging response to the taste profile of Emperador Brandy,” Joan Cortes Vilardell, director of Casa Pedro Domecq, was quoted in the statement as saying.
Emperador took control of Casa Pedro Domecq in 2017. It currently manufactures three brandy brands in Mexico: Presidente, Don Pedro and Aztec de Oro. These contribute 96% of the company’s brandy sales in the country.
Emperador noted Mexico has a population of around 120 million people, larger than its market in the Philippines.
“One of our top priorities in the coming years is to develop the markets in Latin America, which will be huge for Emperador’s international business, because of its combined population of around 600 million to date,” Emperador International CEO Glenn Manlapaz said in the statement.
“This will be quite easy for us to penetrate because of Casa Pedro Domecq’s strong foothold in Mexico and across Latin America,” he added.
The company currently exports Emperador Brandy to North America, Asia, Europe, Russia and Africa.
Emperador’s brandy business continues to account for the bulk of its revenues, making up P14.9 billion or 69% of its total P21.5-billion revenues in the first half. Its attributable net income grew 2% to P3.3 billion.
The company controls Emperador Distillers, Inc.; Scotch whisky maker Whyte and Mackay Group; and Spain-based Bodegas Fundador.
Shares in Emperador at the stock exchange gained 14 centavos or 1.42% to close at P9.99 each on Tuesday. — Denise A. Valdez