Korean whisky market up for ‘premiumization’
on 29/04/11 at 12:15 pmIndustry
The chief executive officer of Pernod Ricard said Thursday that the French-based global company sees the Korean market as mature for its diverse premium spirits.
“The strategy is to go for premium products,” said Pierre Pringuet during an exclusive interview with The Korea Times in a Seoul hotel. Pringuet coined the word “premiumization.”
He said Korea is already consuming a growing volume of premium and super-premium products, so the company is ready to satisfy those customers with various products and new spirits.
The bureaucrat-turned-businessman said that Korea is one of the key markets in Asia for the world’s leading liquor company.
“Korea is probably one of the top six countries for our products. When you include duty free, it probably is one of the top five,” he said.