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Friday, March 29, 2024

Tanduay spending P500 million for expansion

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Bacolod City”•Tanduay Distillers Inc., the liquor unit of beer and tobacco tycoon Lucio Tan, plans to spend P500 million as it aims to expand sales by 5 percent this year.

Tanduay chief finance officer Nestor Mendones said in an interview the group aimed to increase sales volume from 20 million cases sold in 2018.

The company is aiming to expand its already dominant leadership in the rum category in the Visayas and Mindanao and take a bigger market in Luzon.

Tanduay has a 70-percent share of the liquor market in the Visayas and Mindanao. The company is aiming to increase this to 80 percent.  Its market share is only 2 percent in Luzon.

“We aim to double our market share in Luzon by 2020,” Mendones said.

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This will be done through aggressive marketing, promotion and distribution of products, the company said. Tanduay is also looking to launch more premium brands in line with the increasing spending capacity of Filipinos. 

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