China: Corona becomes China’s No 1 imported beer brand
Mexican beer brand Corona, which is owned by Grupo Modelo, is taking on the international market since its beer brand has become the number one import in China, the Mexico News Today reported on May 15.
Carlos Brito, CEO of AB InBev, parent company of Grupo Modelo says, “The brand continues to grow rapidly in the super premium segment in China where it recently became the number one imported beer brand.”
The brand had a 25.1 percent growth in revenues within Mexico, while outside the country it has seen a 40.3 percent increase.
“The opportunity we see with Corona is that it has a market share of 3 percent or more in only three countries where we have the brand. Chile, Australia and Mexico.
“With the brand that continues to grow at double digits throughout the world, we are still far from reaching its maximum potential,” added Brito.
During the first quarter of 2018, beer volumes increased by 0.5 percent mainly due to the performance in Mexico, Colombia and Argentina, which was counteracted by the US and Brazilian markets.
Revenues increased around 4.7 percent in that quarter, mainly due to the premium category, according to the company’s financial report.
Grupo Modelo in Zacatecas supplies Mexico and the rest of the world with Corona beer, as well as Modelo and Bud Light, among others.
In that plant, 30 percent of the production is exported globally, particularly to European countries, while the remaining 70 percent supplies the Mexican market.
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