Campari New CEO Says Now’s the Time to Boost Aperol in Asia
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Davide Campari-Milano NV’s new CEO, Matteo Fantacchiotti, plans to focus on boosting the growth of the company's popular Aperol beverage in Asia. He believes that Asia will account for 15% to 20% of Campari's global sales over the next five to ten years. The plan is to initially focus on cities close to Hong Kong and with favorable weather in China. The company also plans to continue seeking development opportunities in the US and Asia through mergers and acquisitions. Last year, Aperol accounted for 24% of Campari's sales and experienced triple-digit growth in China and India. The Asia-Pacific region accounted for 8% of the company's sales. Campari recently acquired Courvoisier Cognac from Beam Suntory for at least $1.2 billion and Wilderness Trail Distillery LLC in 2022 as part of its expansion beyond aperitifs. The CEO stated that there are no reasons not to provide guidance in the second quarter, but uncertainties remain.

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https://www.bloomberg.com/news/articles/2024-04-20/campari-s-new-chief-says-now-s-the-time-to-boost-aperol-in-asia