Global Spirits Giants Gather in London Committed to Establishing a World Spirits Dialogue Platform
Tuesday 3 October, 2023On September 29th, Javier Ferran, Chairman of the Board of Directors of Diageo, Gilles Bogaert, Executive Vice President of Global Markets at Pernod Ricard, and Ding Xiongjun, Chairman of Moutai Group, jointly signed the "Global Spirits T3 Dialogue International Cooperation Agreement" in London, witnessed by the China Alcoholic Drinks Association. This marks the first meeting of the top three global liquor companies under the name "T3" aiming to establish a global dialogue platform for premium spirits.
In the spirits industry, Guizhou Moutai, Diageo, and Pernod Ricard are all representative brands, with a combined annual revenue exceeding $52.2 billion. According to statistics, the global spirits sales in 2022 reached approximately $467.69 billion, and it is estimated that the spirits market revenue will maintain a compound annual growth rate of 4.6% from 2023 to 2027.
The "Global Spirits T3 Dialogue International Cooperation Agreement" reached by the T3 dialogue includes seven parts:
1. Establishing a cooperative platform with the China Alcoholic Drinks Association as the organizer, where all parties adhere to the principles of equality, openness, and sharing to strengthen cooperative relationships.
2. Complying with relevant anti-monopoly laws and conducting exchanges, conferences, and other collaborative activities among parties.
3. Promoting global exchange and mutual learning in spirits’ culture.
4. Driving exchanges and cooperation in the field of alcoholic drinks cultural heritage.
5. Enhancing cooperation in promoting responsible drinking.
6. Focusing on environmental protection and promoting sustainable development of society and the environment.
7. Advocating for energy conservation, emission reduction, circular economy, and recycling.
Song Shuyu, chairman of the China Alcoholic Drinks Association, stated that the T3 dialogue is a historic and high-profile gathering of the three leading spirits companies, and as the future summit becomes institutionalized, it would evolve into a globally influential IP, further solidifying in-depth exchanges and interactions among world spirits companies in the fields of market, brand, and culture, and then promote the healthy, sustainable, and high-quality development of the global spirits industry.
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