Angostura Enters 19 New Markets in just 3 Years
Concerted International Thrust sees Angostura enter
19 new markets in just three years
The House of Angostura’s strategic thrust into new markets is paying dividends for the company, with record-breaking levels of new market penetration into Europe, Middle East, Africa and Asia (the EMEAA region).
In the first half of this year, Angostura launched its brands in two new markets: Azerbaijan and Slovenia, with China due to open later this year. This follows on the heels of nine new market launches in 2017 alone (Kazakhstan, Moldova, Croatia, Hungary, Taiwan, Ghana, Tanzania, Uganda and Poland), topping the company’s eight new market launches in 2016.
This means that The House of Angostura® has launched its brands into a total of 19 new markets in the EMEAA in just the last three years, a tremendous achievement and a major stepping stone as the House of Angostura works to secure its position as a world leader in rum and bitters.
According to Andy Holmes, Founder and Managing Director of Artisan Spirits Ltd., Angostura’s Sales Agents for the EMEAA: “2017 was another strong year for Angostura in EMEAA – we’ve taken the business to new levels again. There’s a lot of opportunity still to be unlocked, but the foundations laid are getting stronger and stronger.”
Holmes continued: “We’re fortunate to have very motivated distribution partners in the markets and at the all-important bar and trade level, we’ve worked hard to build real supporters and Ambassadors of Angostura’s rum, bitters and Amaro brands. With these two key ingredients, together with creative promotional programs, product innovations and strong support from ourselves, the future of Angostura’s business across EMEAA is definitely healthy. We do our best to let Trinidad and Tobago’s sunshine, joy and fun shine through the Angostura brand and the markets just love the energy and quality the brand brings!”
Angostura has also enjoyed major breakthroughs in the realignment of its route-to-market partners, the cornerstone of the company’s international brand-building success. Changes of distribution partners were effected in the Netherlands, Greece and Lebanon, establishing solid, trustworthy new distributor relationships in each of these markets which are fit-for-purpose for the long term.
While Angostura has been involved in the Greek market since 2009, the company’s rum and bitters business there more than doubled between 2015 and 2017. “Despite all the economic troubles this market has recently had to weather, the bar scene in Greece has proved to be one of the most dynamic and high quality in Europe.” says Holmes, “Previously our business was concentrated in the Athens region, however coverage today is more balanced, and includes Thessaloniki and, importantly, the islands, to help capture our share of the more than 30 million tourists who travel to Greece each year.”
Holmes notes that Angostura has been in the Ukraine market (population 52 million) since 2005. “Ukraine’s imported rum market has grown 10 times its size since 2007, offering very positive opportunities for the growth of Angostura’s range of rums,” he says “with further strong category growth expected, our ambition is to double our business in the market every two years, to solidify our position as a “must-stock” brand by any premium bar or club. Amaro di ANGOSTURA® is also showing potential for growth with the market naturally leaning towards slightly sweeter yet aromatic flavour styles.”
In her message in the House of Angostura’s 2017 Annual Report Chief Executive Officer, Genevieve Jodhan said Angostura would “seek growth in carefully selected and targeted segments and markets,” noting that “continued alignment of our international distribution network is key to long term growth of our export brands – Angostura Bitters, Angostura premium rums, Lemon, Lime and Bitters and Amaro di ANGOSTURA.”
“As we proceed into 2018, our aim is to consolidate our gains locally and push for advancement in key international markets. In so doing, our ambition is to innovate faster to secure a strong place for the Group in the industry globally, as we build a better future,” said Jodhan.
To view the House of Angostura 2017 Annual Report in full, visit www.angostura.com/investor-relations/