Grupo Modelo Gains Share in U.S. Market as Victoria Beer Cracks Top 20
on 16/07/11 at 11:22 amIndustry
Shipments of Modelo brands rose 4.4 percent in the 13 weeks ended July 3 compared with a 1.7 percent increase for all beer imports, Emilio Fullaondo, chief financial officer, said today on a conference call. Case shipments for the U.S. beer industry fell 0.9 percent, he said, citing data from SymphonyIRI Group.
Even amid weak U.S. consumer spending, Victoria surpassed sales of 2 million cases within the first 12 months, Fullaondo said. Modelo, based in Mexico City, first sold the beer in Chicago in June 2010 at a price that tops Corona, the company’s flagship export, he said. Victoria ranks 20th among imports.
“We are very optimistic about the potential for Victoria in the U.S. market as a super-premium import and are working on plans to further expand the distribution,” he said, speaking on an analyst call after the company reported second-quarter earnings.