Suntory Looks To Double Sales For Beam SubsidiaryDecember 24, 2015
Suntory Holdings Ltd. president Takeshi Niinami has set the goal of doubling sales and profit for the group’s Beam Suntory subsidiary looking ahead. In an interview with the Japan News, Niinami said, “The U.S. economy is good. I think it was great for us to commit [to doing business in] the United States. However, we have yet to fully boost Suntory’s value there. I believe there is a high possibility that Beam’s sales may double and its profit may more than double.”
According to Impact Databank, Beam Suntory currently ranks third among global spirits marketers with volume of around 54 million cases, but it remains roughly half the size of second-ranked Pernod Ricard. The company has enjoyed marked progress for its Bourbon stable—with Maker’s Mark, Knob Creek and Basil Hayden’s propelling growth in the U.S.—and it’s eyeing an expanded global presence for its Jim Beam flagship brand in the years ahead. Beam Suntory is also well-positioned in the fast-rising single malt Scotch segment with the Bowmore and Laphroaig brands, and one of its recent innovations, Hibiki Japanese Harmony ($65), was named Whisky Advocate’s Japanese Whisky of the Year.
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