MILAN (Reuters) – Italian spirit group Campari and Chinese group Sichuan Yibin Wuliangye, known for the Chinese liquor baijiu, have signed a memorandum of understanding for strategic cooperation, they said on Friday.
“The two groups will collaborate in areas such as new product co-creation, channel expansion, strengthening marketing cooperation, and promoting brand culture to support the joint development of both parties in domestic China and the international spirits market”, the companies said in a statement.
Campari’s sales in the Asia Pacific market currently counts for around 7% of the group’s total revenues.
(Reporting by Elisa Anzolin, editing by Gavin Jones)
