Wuliangye International (HK) Limited and Pernod Ricard officially signed a strategic cooperation memorandum of understanding (MOU) in Yibin, Sichuan on 14th November.
The signing of the MOU signifies both parties’ shared intent to carry out collaborative communication and comprehensive exchanges by jointly strengthening infrastructure, developing regional sales channel systems starting from Southeast Asia, with potential expansion to other markets in Asia outside of China and beyond, at a later stage. By doing so, both Wuliangye and Pernod Ricard aim to capitalize on shared resources to boost their joint development in both the Asia and global spirits markets.
At the signing ceremony, Mr Philippe Guettat, Chairman and CEO of Pernod Ricard Asia commented: “We are excited to form a new strategic partnership with a respected Baiju leader, Wuliangye, and embark a new adventure together. Imported spirits and baiju have both enjoyed a long and glorious history in their respective markets. Joining our forces and expertise today marks a historic milestone in the industry. Leveraging Pernod Ricard’s established network and experience, I am sure this partnership will bring unprecedented innovative forces to the market.”
Mr Li Shuguang, Party Committee Secretary and Chairman of Wuliangye Group said: “The Asia market beyond China will be a very important stepping stone for Wuliangye as it treads into the international market. Wuliangye attaches paramount importance to its partnership with Pernod Ricard and is confident that by working together we will expand across the Asia market.”
By fully leveraging this landmark collaboration with one of China’s largest baijiu producers, Pernod Ricard aims to enhance a win-win relationship that will enable both companies to accelerate further development.
(Source: Pernod Ricard)