Pernod Ricard and Wuliangye International (HK) have signed a memorandum of understanding as they aim to capitalise on shared resources.
The alcohol companies said the agreement signifies both parties’ intent to carry out collaborative communication and comprehensive exchanges by jointly strengthening infrastructure, developing regional sales channel systems starting from Southeast Asia, with potential expansion to other markets in Asia outside of China.
China-based Wuliangye is increasingly looking to expand the availability of its baijiu spirit overseas.
“We are excited to form a new strategic partnership with a respected baijiu leader, Wuliangye, and embark a new adventure together,” said Philippe Guettat, CEO of Pernod Ricard Asia.
“Imported spirits and baijiu have both enjoyed a long and glorious history in their respective markets. Joining our forces and expertise today marks a historic milestone in the industry.
“Leveraging Pernod Ricard’s established network and experience, I am sure this partnership will bring unprecedented innovative forces to the market.”
Li Shuguang, chairman of Wuliangye Group, said: “The Asia market beyond China will be a very important stepping stone for Wuliangye as it treads into the international market. Wuliangye attaches paramount importance to its partnership with Pernod Ricard and is confident that by working together we will expand across the Asia market.”
In September, Pernod Ricard announced plans to build a malt whisky distillery in Sichuan, China, with a $150 million investment for the next decade.
© FoodBev Media Ltd 2019