Sun | Sep 24, 2017

Red Stripe to double exports by 2018

Published:Friday | April 22, 2016 | 4:31 AM

Red Stripe Jamaica said Thursday that it plans to double the brewery’s foreign sales in two years, as it positions as a “key global player”.

“We believe in the brand and its appeal, and our strategy is to expand our position in markets where we’re already present, and enter new markets with a high quality product at a competitive price,” said managing director Ricardo Nuncio in a statement quoting a speech he gave Thursday at the JEA quarterly Global Thought Leader Speaker Series in Kingston.

“We know it’s an ambitious goal. But we believe that we have an amazing product that people love, and there is a huge opportunity to grow beer in the Unites States and other key markets right now,” he said.

Nuncio said the company — now owned by Heineken since last October — plans to leverage brand Jamaica in its sales campaign towards its 2018 export goal.

Since Heineken’s takeover of Red Stripe, the company announced that it would return the production of beer done in the United States back to Jamaica. The repatriation is expected by September.

When Red Stripe first entered into the US contract with City Brewing back in 2012, it reportedly outsourced production of some 3.5 million cases at the time.

business@gleanerjm.com