The article discusses Emperador, the world’s largest brandy producer, which is owned by Filipino tycoon Andrew Tan. The company has been growing its whisky segment in recent years with brands such as Dalmore and Tamnavulin. Now, Emperador is eyeing a new spirits segment to penetrate: agave-based spirits like tequila and mezcal.
According to Glenn Manlapaz, the director, president and CEO of Emperador, the company has been growing its whisky business through various means including introducing it in bars and restaurants to consumers who can later buy it in liquor stores. He believes that a similar approach can be used to grow the mezcal segment.
Emperador acquired a 60 per cent stake in Destileria Los Danzantes, a Mexican distiller, for 80 million Mexican pesos (S$5.9 million) last year. Manlapaz sees potential to grow this brand over the long term in European markets as there has been growing interest in mezcal there.
In Asia, he also sees potential in growing the mezcal market in more developed economies such as Greater China, South Korea, Japan and Singapore.
Overall, Emperador’s revenue for the first quarter grew 1.1 per cent from the same period a year ago, supported by sustained consumer demand and operational efficiencies.
Source: Read the original article
