Sri Lanka brewery invests to expand sales in US market
COLOMBO (EconomyNext) – Ceylon Beverage Holdings is making big investments in its outlet in New York City, USA, which it sees as a stepping stone to the rest of the American market.
The company is placing particular emphasis on New York City where it has employed its own sales person, according to its Chief Executive Suresh K. Shah.
“During the year under review, volumes grew 70 percent in New York, underlying the success of this strategy,” he has told shareholders in the company’s annual report.
But he said it is an “extremely competitive” market and success will not come quickly or easily.
“Yet, if we succeed, it will provide us a stepping stone to the rest of the US.”
Shah said the focus of Ceylon Beverage Holdings, part of the Carson Cumberbatch, at present is to drive repeat purchases within a relatively narrow outlet base in New York rather than expand distribution.
The firm exports Lion Lager, Lion Imperial (a brand of strong beer not available in Sri Lanka) and Lion Stout to the US.
“All three brands are well received once customers consume them,” Shah said. “Lion Stout in particular is gradually gaining recognition as a truly world class beer and has received superb reviews including in specialty publications.”