Pernod Ricard is a French company that produces Alcoholic Beverages. Over the years, the chunk of their sales have come from their own European regions but now the tide is changing and they have Asia to thank for the bulk of their profits this time round. Pierre Pringuet, chief executive, said there was no sign of a slowdown
in Asia, which has also become the group's largest profits generator,
leapfrogging Europe and the Americas.For those not familiar, this is the company that owns Absolut vodka, Chivas Regal whisky and Martell Cognac. The region the company has to thank the most is China, where the love for Whiskey and other spirits has shot up recently. China's taste for cognac and whisky drove like-for-like sales growth of
14 per cent in Asia, easily outpacing the Americas, Europe and France.The pull factor is there in Asia now, people around the region, not just in China, India but also in South East Asian nations are spending cash on luxurious items. Many years ago, alcohol in these regions would be considered luxury but right now it has almost become a necessity. Every restaurant, bar or household has some form of alcohol in there and companies stand to benefit a lot. With this increased popularity, people will be going online more to check different mixes and different kinds of drinks to make with different kinds of alcohol.
Source: http://www.ft.com
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