Diageo has announced a new research and development (R&D) centre in Shanghai, China, as it aims to create new products for the Chinese market based on local consumer insights and trends.
The spirits giant described the new facility as “the first of its kind in the beverage alcohol sector in Shanghai”. The new site will primarily support the China market and is expected to strengthen Diageo’s ability to innovate and develop products that fit Chinese consumer tastes.
“Today’s announcement is another key step in our transformational journey to invest and deliver growth in a fast-moving and highly competitive market,” said Sam Fischer, president, Asia-Pacific and global travel.
“China’s total beverage alcohol market is the largest in the world in both value and volume terms and is expected to grow over the next five years. Much of this growth will be driven by strong premiumisation trends that are accelerating as new channels and occasions emerge for international spirits, beer and new-to-world innovations.”
He continued: “Together with the recent opening of our major logistics hub in Shenzhen, this facility sets Diageo up for continued success and reinforces our strategic commitment to our business across China”.
Diageo will begin construction of the new R&D centre this year and expects it to be fully operational by mid-2022.
© FoodBev Media Ltd 2022
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