Diageo's hopes hang on China as Australian spirit sales slip
on 30/09/10 at 12:14 pmIndustry
THE alcoholic beverages giant Diageo has suffered falling sales in most of its brands of spirits in Australia and is looking to China’s thirst for luxury brands and emerging affluence in Vietnam and Indonesia to drive its growth in the region.
Diageo’s Asia-Pacific president, Gilbert Ghostine, told analysts that Johnnie Walker Scotch had posted share gains and net sales growth in Australia in the last financial year, but that overall market performance was softened by declines in other spirits.
Sales were hit by especially competitive pricing in the ready-to-drink market, with Australia representing Diageo’s second-biggest market for the beverage type.