6th Oct 2014 11:55
LONDON (Alliance News) - SABMiller PLC Chief Executive Alan Clark Monday said he wants to convert wine and spirits drinkers to premium beer instead, developing and extending the range of the brewer's top-end beers and ciders while at the same time making sure it has a stable of affordable beers to sell in emerging markets.
The CEO told an investor seminar that the South African brewing giant wants to attract more consumers by expanding its portfolio of flavoured beers and ciders, such as Radlers.
It said it plans to build a position for beer outside its traditional role as the "favourite drink for men in pubs and bars", by offering various flavoured beer and ciders that will attract "more consumers on more occasions".
"We know there's untapped potential in beer and it's time to change the image of beer as just a drink for guys watching sport. Why shouldn't beer be a great choice with food or something that has much more appeal for women?," Managing Director Nick Fell told investors.
"We are already seeing good results from strengthening our core lager brands and expanding our portfolios into new areas such as radlers, flavoured beers and ciders. Our new strategy for beer takes us further. We believe our unrivalled local market insights - as the most local of the global brewers - combined with our size and scale will allow us to really shape the future of beer in new and interesting ways," said Fell.
CEO Alan Clark said the brewer has sharpened its focus on three key elements - driving superior topline growth, becoming more efficient and concentrating on the highest growth opportunities.
"Our long experience of operating in emerging markets means we are well-positioned to capture the opportunities from these high-growth markets. But in the more mature and fragmented markets, we need a new approach. We have a long-term vision to push out the boundaries of the beer category, appealing to more consumers on more occasions through innovation and challenging traditional perceptions of beer," said Clark.
SABMiller shares were trading at 3,383.50 pence Monday morning, up 0.03%.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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