SIX OF WORLD'S TEN MOST VALUABLE SPIRITS BRANDS ARE CHINESE BAIJIU
By Siulan Law Mathews DipWSET
Source: Brand Finance
Six of the world’s ten most valuable spirits brands in 2022 are Chinese baijiu, with Kweichow Moutai, Wuliangye, Luzhou Laojiao and Yanghe taking the top four positions, Hennessy is the most valuable western spirits brand at fifth place.
According to a report released by brand valuation consultancy, Brand Finance, Kweichow Moutai’s brand value has dropped 5 percent in the past year to USD42.9 billion. Despite this, the brand is still solidly the most valuable, some USD14.2b more valuable than second placed Wuliangye which is valued at USD28.7b.
Chinese baijiu brand Fen Jiu sits at 6th place, while Gujing Gongjiu is 8th. The top 10 list is completed by Bacardi at 7th place, Jack Daniel’s at 9th and Johnnie Walker 10th.
Brand Finance said Kweichow Moutai has been adept in going digital by selling directly to customers with its iMoutai app which has over 10 million users in China. The company has also diversified into making alcoholic ice creams in the past year to expand its customer base by attracting more young consumers.
Source: Brand Finance
Despite these, Kweichow Moutai only ranked second after Wuliangye in Brand Finance’s brand strength chart.
Having grown is brand value by 12 percent in the past year, Wuliangye has achieved the largest increase in brand value growth among the top five most valuable baijiu brands in the ranking, while brand value of Kweichow Moutai has decreased.
Brand Finance said Wuliangye has been actively promoting Chinese baijiu overseas, by engaging in international events including World Economic Forum in Davos, the Boao Forum for Asia and other international trade events.
Brand Finance’s Managing Director, Alex Haigh, said: “Over the course of the pandemic, alcoholic brands have been faced with difficult conditions including fluctuating demand due to national lockdowns across the world. The reopening of the economy has driven major growth in the sector with spirits brands growing by 6 percent year-on-year.”
The report also named Casamigos, a Diageo-owned tequila brand started by George Clooney, the fastest-growing spirits brand. Casamigos’ brand value has almost tripled since last year and is now valued at USD450 million.
(the writer can be contacted at: firstname.lastname@example.org)
ALL RIGHTS RESERVED
**IF YOU THINK THE WINE CHRONICLE IS WORTH SUPPORTING, PLEASE MAKE A DONATION TO HELP US IMPROVE AND CONTINUE OUR WORK**
TRENDING│ FOCUS│ MISSION│ ABOUT US│ CONTACT