Campari Group and Sichuan Yibin Wuliangye Group have signed a Memorandum of Understanding (MOU) to form a strategic cooperation relationship.
The strategic cooperation in Yibin City, China, will enable the two spirits companies to collaborate in areas such as new product co-creation, channel expansion, strengthening marketing cooperation and promoting brand culture.
It will support the joint development of both parties in domestic China and the international spirits market.
During the signing ceremony, Bob Kunze-Concewitz, CEO of Campari Group, introduced the history and performance of Campari Group and reaffirmed the importance of the China market.
Kunze-Concewitz said that the “spirit of cooperation” between the two companies is “rooted in deep respect for each other’s strengths” and reflects “shared values of pragmatism and agility”.
The strategic cooperation aims to complement the advantages of both parties and was described by Matteo Fantacchiotti, Campari’s group deputy CEO and managing director of the Asia Pacific Region, as a “significant milestone” in the global spirits industry.
Together with Wuliangye, Campari will uncover growth opportunities while promoting cultural exchange through spirits, represented by Campari Group’s wide portfolio of western spirits and Wuliangye’s leadership in Chinese Nongxiang Flavor Baijiu.
The two companies plan to not only introduce consumers in China and abroad to different spirits representing different cultures, but will jointly develop new products for different occasions through the partnership.
Zeng Conggin, secretary and chairman of the party committee of Wuliangye Group, said that the cooperation will be a “breakthrough in product innovation” for the two spirits groups, as well as a “passionate collision of cultural exchanges between the East and the West,” leading to prosperity and development of the global spirits industry.
In September this year, Wuliangye and Campari jointly released a brand-new cocktail, the ‘Wugroni,’ made with a blend of Wuliangye Baijiu co-created by both companies. With the formal signing of the strategic memorandum, the two companies will further deepen collaboration.
© FoodBev Media Ltd 2024