Jim Beam Owner Bets on Canned Vodka Cocktails to Double Revenue [Financial Post (Toronto, Ontario, Canada)]
SUNTORY BEV&FOOD UNSP/ADR (STBFY)
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — The maker of some of the world's most refined whiskeys is rebranding itself as it tries to dominate the global market for a more downmarket drink: the canned cocktail. Suntory Holdings Ltd.'s New York-based Beam Suntory subsidiary will change its name to Suntory Global Spirits on Tuesday, removing Beam from its name a decade after it bought the US-based bourbon brand. The unit aims to grow its $5.5 billion in global sales to $10 billion by 2030 — with an emphasis on RTDs, or “ready to drink” beverages. Article content Article content “We want to spread Japanese authenticity, which is so popular in the US,” Tak Niinami, chief executive officer of Suntory Holdings, said in a phone interview. “R&D in RTD is our strength, and has been for more than 30 years, as we study to how to put flavors together with alcohol. It sounds like a very easy task, bu
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