Incorporation of Transbeverage subsidiary → Company name change
Campari Group “Korean market has high potential”
CEO Ryu Ho-jun “Expanding growth with a strong team and products”
Campari Group, Italy’s leading liquor company, is entering the market in earnest through an official domestic corporation.
Campari Group announced the launch of its official domestic corporation, Campari Korea, on the 18th. With the launch of Campari Korea, Trans Beverage, a joint venture that has been in charge of Campari Group’s Korean business, has been transformed into an official corporation. Campari Group acquired all shares of Transbeverage, incorporated it as a subsidiary, and changed its name to Campari Korea.
Transbeverage, established in March 2018 with an equity investment from Campari Group, has promoted new products to domestic consumers and led brand growth through a cultural approach to alcohol in the highly competitive domestic market. In particular, the American brand Wild Turkey led the premium bourbon whiskey boom in the domestic market. Wild Türkiye Russell Reserve was so popular that an open run was held.
Campari Group also paid attention to the dynamics and potential of the Korean market and decided to launch an official corporation. Matthijs Kramer, head of Campari Group Asia-Pacific, said, “Based on our optimistic outlook on the Korean market, we were confident of its long-term growth potential, so we acquired shares and launched an official corporation.” He added, “We will continue to serve high-quality Korean consumers.” “We will do our best to satisfy sophisticated tastes.”
CEO Ryu Ho-jun, who leads Campari Korea following Transbeverage, said, “I am personally proud of the successful launch of Campari Korea,” and added, “Campari Korea will create new value and achieve long-term growth based on a strong team and excellent product portfolio.” “We will make it happen,” he said.
Kim Min-beom, Donga.com reporter [email protected]
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