This Bud's for Vietnam courtesy of Anheuser-Busch Cos. Inc. The 2008 IW 50 Best Manufacturer will introduce its iconic Budweiser brand to Vietnam this month, the company said on June 9. Anheuser-Busch is entering a growing market in the Southeast Asian nation, says Tom Santel, CEO and president, Anheuser-Busch International Inc.
"Vietnam is an exciting beer market and an important one for Anheuser-Busch to begin establishing and building the Budweiser brand," Santel said in a statement. "The country's beer industry experienced double-digit volume growth for the past three years."
Budweiser should benefit from the country's growing economy and sizable young adult population, says Walter Blocker, CEO of Budweiser distributor Gannon Group Vietnam Ltd., which is a 100% foreign invested company established in Vietnam in 1994.
| At A Glance Anheuser Busch Cos. Inc. St. Louis, Mo. Primary Industry: Primary Metals Number of Employees: 3,500 2007 In Review Revenue: $2.51 billion Profit Margin: 12.68% Sales Turnover: 0.97 Inventory Turnover: 15.28 Revenue Growth: 6.16% Return On Assets: 12.92% Return On Equity: 53.71% |
The beer will initially be available in upscale bars, restaurants and supermarkets in Ho Chi Minh City and select chain outlets throughout the nation.
Anheuser-Busch is coming off an average first quarter during which revenues increased 6.2% to $4.1 billion and profit decreased 1.3% falling to $511 million compared with $518 million during the year-earlier period.
Revenue rose primarily from price and volume increases. The profit decline was attributed to higher ingredient costs, which the St. Louis-based company is combating with price hikes on most products, according to the Associated Press.
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