On Tuesday 3 October, 2023, the Chairman of the Board of Directors of Diageo, Javier Ferran, Executive Vice President of Global Markets at Pernod Ricard, Gilles Bogaert, and Chairman of Moutai Group, Ding Xiongjun, officially signed the “Global Spirits T3 Dialogue International Cooperation Agreement” in London. The agreement was witnessed by the China Alcoholic Drinks Association, and marked the first meeting of the top three global liquor companies, known as the T3 dialogue.
The successful agreement includes seven parts, with the primary objective being to establish a cooperative platform among the three companies, which adheres to the principles of equality, openness, and sharing. It also aims to promote global exchange and mutual learning in spirits’ culture, as well as enhancing cooperation in responsible drinking, environmental protection and energy conservation.
The combined annual revenue of the three companies exceeds $52.2 billion, and the global spirits sales in 2022 reached approximately $467.69 billion. According to estimates, the spirits market revenue is expected to maintain a compound annual growth rate of 4.6% from 2023 to 2027.
Chairman of the China Alcoholic Drinks Association, Song Shuyu, expressed that the T3 dialogue between the leading spirits companies is a historic and high-profile gathering, which has the potential to become an influential IP on a global scale. He believes that it will further develop in-depth exchanges and interactions among world spirits companies in the fields of market, brand, and culture, as well as promote the healthy, sustainable, and high-quality development of the global spirits industry.
Derick is an experienced reporter having held multiple senior roles for large publishers across Europe. Specialist subjects include small business and financial emerging markets.