Emperador, Inc. aims to expand its international operation to India as it continues to grow its overseas market share by 2025, a company official said during its annual stockholders’ meeting on Monday.
“India is a market waiting to explode, with a trade agreement being signed by both India and the [United Kingdom]. If this happens this year, we could just imagine the potential of whisky going into India,” Emperador International Division President and Chief Executive Officer Glenn D. Malapaz said.
“It is one of the biggest countries now by population and whisky is [in] very high demand … So, with China, the US, and India combined the demand for whisky will keep on growing in the near future,” Mr. Malapaz added.
The company aims to increase the contribution from its international operations to account for 50% of its business by 2025 from the 35% reported the previous year by doubling its branded single malt sales and achieving high single-digit growth in brandy sales.
It said earlier that capital expenditures for the year would amount to about P7 billion, which will be used for its overseas market expansion.
For the first quarter, Emperador booked a 9.5% higher attributable net income of P2.3 billion from the P2.1 billion reported a year prior on the back of higher revenues.
“Our business continues to be strong … coming from three consecutive banner performances in 2020, 2021 and 2022,” Emperador President Winston S. Co said in a statement.
The company’s revenues for the three-month period went up by 26% to P15.6 billion from the P12.3 billion reported in the same period last year.
Mr. Co added that its international business in China and North America saw continued growth during the period, as well as its travel retail segment due to increased air travel.
“Ultimately, the strength of our business comes from having a compelling whisky and brandy product portfolio. For instance, our single malt whiskies are increasingly becoming more accessible and popular across the globe,” he added.
Emperador shares fell by 0.24% or P0.05 to close at P20.80 apiece on Monday. — Adrian H. Halili