NEWS
DIAGEO PLANS TO BUILD R&D CENTRE IN SHANGHAI TO DEVELOP PRODUCTS FOR CHINESE TASTES
By Tony Zhu
15-9-2021
Credit: Siulan Law Mathews
Global drinks giant Diageo has announced plans to build a new research and development centre in Shanghai to further its product innovation and expansion ambitions in China.
The new facility will primarily support the China market and strengthen Diageo’s ability to rapidly innovate and develop premium products that cater to Chinese consumer tastes.
The aim of the facility is to create a portfolio of products developed in China for China based on local consumer insights and trends.
Construction will begin in 2021 and the R&D centre is expected to be fully operational by mid-2022.
Diageo has recently opened a major logistics hub in Shenzhen, the R&D facility in Shanghai will reinforce the company’s strategic commitment on its business across China.
“Today’s announcement is another key step in our transformational journey to invest and deliver growth in a fast-moving and highly competitive market,” said Sam Fischer, president Asia-Pacific and global travel of Diageo.
“China’s total beverage alcohol market is the largest in the world in both value and volume terms, and is expected to grow over the next five years. Much of this growth will be driven by strong premiumisation trends that are accelerating as new channels and occasions emerge for international spirits, beer and new-to-world innovations,” Fischer added.
(the writer can be contacted at: info@thewinechronicle.com)
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