Italian spirits company Campari has formed a strategic partnership with Chinese liquor producer Sichuan Yibin Wuliangye Group to jointly boost presence in the Chinese and global spirits markets.
The two companies will collaborate in areas such as new product development, channel expansion, marketing cooperation, and brand promotion.
This partnership will allow Campari to leverage Wuliangye's expertise in the Chinese Baijiu market, while Wuliangye will gain access to Campari's portfolio of Western spirits brands.
The partnership is expected to benefit consumers in China and abroad, as they will have access to a wider variety of spirits products.
Additionally, the two companies plan to develop and co-create new products that are suitable for different occasions.
Bob Kunze-Concewitz, CEO of Campari Group said the spirit of cooperation between Campari and Wuliangye is rooted in deep respect for each other’s strengths and reflects the shared values of pragmatism and agility.
In October, the Italian spirits group said its third quarter like-for-like sales rose by 4.4% at constant exchange rates, below analyst expectations.
Business Expansion
This partnership is expected to help both companies grow their businesses in the Asia Pacific market, where Campari currently generates around 7% of its total revenue.
In September, Wuliangye and Campari jointly released a brand-new cocktail, the "Wugroni", made with a special blend of Wuliangye Baijiu that it co-created by both companies.
Campari is a well-established brand in the spirits industry, with a strong portfolio of products that includes Aperol, Campari, and Glen Grant.
Wuliangye is the world's largest producer of baijiu, a type of Chinese liquor that is popular in China and other Asian countries.
In September of this year, Wuliangye and Campari released the 'Wugroni' – a cocktail made with Wuliangye Baijiu that was co-created by both companies.
