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Taiwan Beer Expected to Take 1% Market Share in China in 5 Years |
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Thursday, 05 November 2009 09:34 |
TAIPEI, Taiwan—Sales in China of Taiwan Beer, a brand made by the state-owned Taiwan Tobacco and Liquor Corp. (TTLC) are expected to have reached NT$30 billion (US$924 million) in 3 to 5 years, accounting for 1 percent of China's beer market, TTLC Chairman Wei Po-tao said Wednesday.
In a legislative interpellation session, Wei said the company has estimated that sales of Taiwan Beer in China will reach NT$200 million this year and will reach NT$1.5 billion next year.
If that is the case, the company's return on its investment of NT$260 million in sponsorship for the 16th Asian Games slated to be held later in the month in Guangzhou will be realized in 2010, Wei noted. TTLC has been named as the official Bear Partner of the games.
He also rebutted media rumors that the company had invested NT$400 million in the games.
If the goal of NT$30 billion in sales is reached, Wei went on, the company could make a profit of NT$4.5 billion, which he said could be used to create 1,000 jobs in Taiwan.
Chinese citizens consume about 113 billion liters of beer annually, so if Taiwan beer can take 1 per cent of the market share, that would be equivalent to Taiwan's total beer consumption for a whole year, Wei said.
He also vowed to resign if the goal is not reached.
(C) 2009 Asia Pulse Pte Ltd.
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