Scottish & Newcastle Targets Asian Markets – Report
UK-based brewer Scottish & Newcastle is looking at India, China and Vietnam as its future growth markets, reports Reuters.
According to John Hunt, Scottish & Newcastle’s managing director for Asia, the company expects an increase in demand for its products due to changing consumer behavior and rising income levels.
Mr Hunt said that Asia, China, India and Vietnam are all important markets for the brewer. He said they are similar in that they have strong gross domestic product growth, greater purchasing power, a young demographic and a change in social attitudes toward drinking.
Although revenue from Asian markets currently accounts for less than 10% of the company’s total revenue, Mr Hunt said it will rise soon as the company intends to make Asia a material part of its business.