Diageo, the world’s leading premium drinks business has launched Chinese White Spirit brand, Shui Jing Fang, into the GB domestic market. Great Britain is the first European market to stock Shui Jing Fang as part of Diageo’s strategy to build it as an internationally recognised brand.
Shui Jing Fang will be distributed throughout the UK by SeeWoo, a leading specialist Oriental food wholesaler headquartered in the UK. In addition to the launch in Great Britain, Diageo plans to introduce Shui Jing Fang into other northern European markets later in 2012.
Andrew Cowan, country director Diageo GB, said of the launch, “Diageo is delighted to introduce Shui Jing Fang into the GB domestic market, where we believe there is a real opportunity for growth. This launch represents a milestone in the journey of Shui Jing Fang to becoming an international brand and we look forward to working with SeeWoo to build the brand with British consumers.”
Having gained a controlling stake in Sichuan Chengdu Quanxing Group Company Ltd. ("Quanxing"), the largest shareholder of Sichuan Shuijingfang Co., Ltd. (“ShuiJingFang”) in 2011, Diageo is the only international company to have invested at scale in Chinese White Spirits. This stake in Quanxing gives Diageo the opportunity to participate in the super premium Chinese White Spirits segment, one of the largest, fastest growing spirits segments in the world.
Shui Jing Fang will initially be aimed at Chinese consumers in Britain, but the ‘baijiu’ segment is continuing to gain popularity in overseas markets due to rising demand from Chinese travelers and Western businessmen keen to do business in China.
Tony Tse, managing director of SeeWoo said, “We are very pleased to be working with Diageo to bring Shui Jing Fang to the GB market. We believe the ‘baijiu’ segment has great growth potential with Chinese and British consumers alike and we are proud to be representing the brand as its distributor.”
Shui Jing Fang will have an RRP of £96.19+VAT for a 500ml bottle and is available to order from SeeWoo.
Notes to editors
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Diageo and Shui Jing Fang:
- Since 2006, Diageo has made incremental increases in the shareholding of Sichuan Chengdu Quanxing Group Company Ltd (“Quanxing”), the largest shareholder of Sichuan Shui Jing Fang Co.,Ltd (“Shui Jing Fang”) .This resulted in Diageo gaining a 53% share holding in Quanxing, which holds approximately 40% of the Shanghai listed company Shui Jing Fang. The change of control of Quanxing required Diageo to make a MTO for the remaining 60.3% outstanding shares of Shui Jing Fang.
- The MTO was completed in April 2012. There was a nominal take up of the MTO OF 3,154 shares - 0.001% of the total 60.3% shares in issue not held by Quanxing.
Diageo is the world's leading premium drinks business with an outstanding collection of beverage alcohol brands across spirits, beer and wine. These brands include Johnnie Walker, Crown Royal, JεB, Windsor, Buchanan’s and Bushmills whiskies, Smirnoff, Cîroc and Ketel One vodkas, Baileys, Captain Morgan, Jose Cuervo, Tanqueray and Guinness.
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