Jameson owner Pernod Ricard has set out global ambitions for the Irish whiskey, aiming to double sales by 2020.
The company said a distillery in Co Cork is key to making Jameson’s ambition of doubling sales to more than €1 billion by 2020 come true.
Pernod Ricard says it provides capacity to spread Irish whiskey globally and will help close the gap with American whiskey behemoth Jack Daniel’s.
"Our long-term goal is definitely to be seen globally as a brand as big as Jack Daniel's," Thierry Billot, head of brands at Paris-based Pernod, said in an interview at Jameson's new distillery in Midleton, just outside Cork.
“Growth in the US will represent a significant part of it - we’re still far behind it there. We also need to open Asia.”
Founded in 1780, the Pernod brand is more than 80 years older than its US rival, yet has a way to go to even reach the same league.
Jack Daniel’s sold 13.2 million 9-litre cases last year, according to researcher International Wine and Spirits Review, while Jameson shipped 4.3 million.
Still, the latter is growing faster both in volume and value terms, and with Irish whiskey demand outpacing the growth of the international market for all spirits, Pernod sees a chance to start bridging the gap.
“While they’ve largely focused on the US and South Africa, it’s got huge untapped potential in other countries,” Trevor Stirling, an analyst at Sanford Bernstein in London, said of Jameson.
Catching up will involve appealing to younger consumers on a wider international scale, Mr Billot said.
It will also mean investment: Jameson last year completed a €100 million plan to double the capacity of the Midleton distillery, and spent another €100 million on a site to mature the spirit.
Bloomberg
