Drinks group Campari is focused on the United States and Asia as it presses on with its acquisition strategy, and is also targeting premium brands, its chief executive has been quoted as saying.
"Campari has built a structure capable of managing revenues that are higher than our current ones," chief executive Bob Kunze-Concewitz told La Stampa daily in an interview, when asked whether the group would continue with M&A deals.
The Aperol, Skyy vodka and Grand Marnier owner wants to continue to expand in the high-end segment, Kunze-Concewitz added.
Earlier this month, Campari announced a reported net sales gain of 17.9% (+10.5% on a reported basis), to €397.3 million, in the first quarter of its financial year. This was also up 12.1% on the first quarter of 2019.
It said that it reported off-trade growth in North America and Northern Europe, as well as in emerging markets, particularly Jamaica, Brazil and Argentina. This offset weakness in its on-trade market as well as travel retail, which 'continued to be negatively impacted by lockdowns', the company said.
"Overall we had a very solid and satisfactory start to the year with good brand momentum, driven by sustained home consumption," Kunze-Concewitz said at the time. "Nevertheless, the performance in this low seasonality quarter was amplified also by an easy comparison base as well as an early Easter effect."
Looking at the remainder of the year, Kunze-Concewitz added that he expected 'positive brand momentum' to continue, backed by "sustained marketing investments, expected to accelerate towards the peak aperitif seasons, a gradual reopening of the on-premise channel as well as e-commerce momentum."
News by Reuters, additional reporting by ESM. For more Drinks news, click here. Click subscribe to sign up to ESM: European Supermarket Magazine.